Chunghwa Telecom - ADR

Strong Financial Performance: Chunghwa Telecom reported a record high full-year revenue of TWD 236.11 billion for 2025, up 2.7% year-over-year (YOY), with the highest full-year earnings per share (EPS) at TWD 4.99, marking an 8-year high. The fourth quarter revenue reached TWD 65.65 billion, a steady 0.5% YOY increase, driven by strong mobile device sales and sustained telecom services.

Increased CapEx and Operating Costs: The company anticipates a 24% increase in non-mobile capital expenditures (CapEx) for 2026, primarily focused on expanding their IDC and satellite services. In contrast, mobile CapEx is set to decline by 6.3% as the company moves past the peak of 5G deployment. Operating costs are expected to rise between 3.5% to 3.7% YOY, largely due to investments in talent for emerging sectors and potential increases in electricity costs.

Mobile and Fixed Broadband Growth: Chunghwa maintained robust growth in its mobile segment, achieving a mobile revenue market share of 41% and a postpaid average revenue per user (ARPU) increase of 3.6%. Fixed broadband also saw substantial growth with an ARPU increase to TWD 819, driven by high-speed upgrade promotions.