Telecom Trio Financials: Taiwan Mobile Maintains Profitability Crown with EPS of NT$3.32 in First 7 Months

The 'Big Three' telecom operators in Taiwan released their latest revenue figures today (10th). Taiwan Mobile (3045-TW) reported a post-tax net profit of NT$14.1 billion for the first seven months of the year, with earnings per share (EPS) of NT$3.32, higher than Chunghwa Telecom (2412-TW)'s NT$3.11 and Far EasTone (4904-TW)'s NT$2.46, maintaining its position as the most profitable.

Chunghwa Telecom

Chunghwa Telecom's revenue for July reached NT$19.88 billion, down 6.8% month-on-month but up 3.7% year-on-year. EBITDA was NT$7.87 billion, up 4.9% MoM and 5.9% YoY. Post-tax net profit was NT$3.34 billion, down 5.9% MoM but up 4.3% YoY, with EPS of NT$0.43. Chunghwa Telecom benefited from steady growth in equipment sales, strong performance from subsidiaries, and asset monetization gains, driving both July revenue and EBITDA to record highs for the same period.

Cumulatively, Chunghwa Telecom achieved revenue of NT$141.24 billion in the first seven months, up 7.2% YoY; EBITDA of NT$54.69 billion, up 4.1% YoY; and post-tax net profit of NT$24.09 billion, up 4% YoY, with EPS of NT$3.11.

Regarding core telecom operations, the company stated that in July, continued effectiveness of 5G speed-up promotions and steady growth in upgraded customers, along with higher roaming demand compared to the same period last year, drove mobile service revenue to grow nearly 3% YoY. Fixed broadband services benefited from sustained market demand for high-speed bandwidth, with the number of users on plans of 300 Mbps or higher growing 14.4% YoY in July, boosting fixed broadband revenue by 2.6% YoY.

In network resilience services, stable contributions from the SJC2 and Apricot international submarine cables, along with ongoing expansion of satellite services, led to double-digit YoY growth in related revenues.

As for ICT (Information and Communications Technology) services, revenue saw a slight YoY decline in July due to a high base from the recognition of one-off large projects in the same period last year. However, revenue from mobile application government tenders still grew nearly 30% YoY, while IDC equipment托管 services continued to contribute stable recurring income.

Taiwan Mobile

Taiwan Mobile reported July revenue of NT$16.17 billion, down 6.6% MoM but up 7.2% YoY. EBITDA was NT$3.735 billion, down 3.6% MoM but up 4.5% YoY. Post-tax net profit was NT$1.41 billion, down 11.9% MoM but up 17.5% YoY, with EPS of NT$0.46.

Cumulatively, Taiwan Mobile achieved revenue of NT$115.38 billion in the first seven months, up 4.2% YoY; EBITDA of NT$26.586 billion, up 7.6% YoY; and post-tax net profit of NT$10.09 billion, up 24% YoY, with EPS of NT$3.32.

Taiwan Mobile's three major growth engines continue to perform strongly. In its core Telco business, higher ARPU from smartphone subscription users and increased roaming during the summer vacation period drove mobile service revenue up 3% YoY, with monthly roaming revenue hitting an 11-year high. Continued strong sales of iPhones and high-end models boosted equipment sales revenue by 18% YoY.

The Telco + Enterprise segment continues to capture opportunities in AI infrastructure, with AIDC driving double-digit revenue growth. The Telco+Tech technology business continues to expand, with momo's revenue up 5% YoY, and brand e-commerce and game publishing businesses also contributing to revenue performance.

Far EasTone

Far EasTone reported July revenue of NT$9.252 billion, down 0.7% MoM but up 14.9% YoY. EBITDA was NT$3.331 billion, down 4.5% MoM but up 7.1% YoY. Post-tax net profit was NT$1.15 billion, down 16.2% MoM but up 0.7% YoY, with EPS of NT$0.32.

Cumulatively, Far EasTone achieved revenue of NT$65.721 billion in the first seven months, up 10.8% YoY; EBITDA of NT$23.562 billion, up 7.2% YoY; and post-tax net profit of NT$8.868 billion, up 14.3% YoY, with EPS of NT$2.46.

Far EasTone noted that in July, its user base continued to expand steadily. Driven by ongoing 5G upgrades, the 5G penetration rate among subscription users rose to 49.6%. Additionally, stable growth in average monthly revenue per user (ARPU) drove overall mobile service revenue to NT$5.322 billion.

In personal digital lifestyle services, July saw strong performance from friDay Video, friDay Guardian, and insurance agency services. Notably, friDay Video's paid subscribers grew 24% YoY. In enterprise smart ICT services, revenue performed well due to the successful delivery of cloud services, system integration, and cybersecurity projects, contributing to stable overall revenue growth.