Financials Hutchison Telecommunications Hong Kong Holdings Limited

Equities

Market Closed - Hong Kong S.E. Other stock markets 01:38:42 28/06/2024 pm IST			5-day change	1st Jan Change
0.98 ^HKD	0.00%		-1.01%	-8.41%

10/05	Vodafone's Joint Venture With Three Gets Conditional Approval From U.K. Government	DJ
18/03	Hutchison Telecommunications Hong Kong Holdings Limited(SEHK:215) dropped from FTSE All-World Index	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	7,566	5,590	6,024	5,879	5,156	4,723	-	-
Enterprise Value (EV) ¹	2,579	339.2	9,999	2,179	1,472	1,320	1,711	1,756
P/E ratio	17.6 x	15.5 x	1,563 x	-37.2 x	-99.1 x	64.9 x	18.1 x	26.5 x
Yield	4.25%	6.46%	21.8%	6.14%	7%	7.39%	7.39%	7.39%
Capitalization / Revenue	1.36 x	1.23 x	1.12 x	1.2 x	1.05 x	0.95 x	0.93 x	0.92 x
EV / Revenue	0.46 x	0.07 x	1.86 x	0.45 x	0.3 x	0.26 x	0.34 x	0.34 x
EV / EBITDA	1.55 x	0.2 x	6.77 x	1.53 x	1.01 x	0.9 x	1.13 x	1.14 x
EV / FCF	26,26,254 x	4,81,749 x	39,96,351 x	34,42,808 x	-	-	-	-
FCF Yield	0%	0%	0%	0%	-	-	-	-
Price to Book	0.63 x	0.46 x	0.56 x	0.57 x	0.52 x	0.5 x	0.51 x	0.52 x
Nbr of stocks (in thousands)	48,19,096	48,19,096	48,19,096	48,19,096	48,19,096	48,19,096	-	-
Reference price ²	1.570	1.160	1.250	1.220	1.070	0.9800	0.9800	0.9800
Announcement Date	28/02/20	26/02/21	25/02/22	28/02/23	05/03/24	-	-	-

¹HKD in Million²HKD

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	5,582	4,545	5,385	4,882	4,896	4,989	5,070	5,114
EBITDA ¹	1,662	1,672	1,477	1,420	1,457	1,461	1,515	1,541
EBIT ¹	386	403	120	-94	-86	9.336	105.7	150.7
Operating Margin	6.92%	8.87%	2.23%	-1.93%	-1.76%	0.19%	2.09%	2.95%
Earnings before Tax (EBT)	535	444	86	-109	-	-	-	-
Net income	429	361	4	-158	-52	-	-	-
Net margin	7.69%	7.94%	0.07%	-3.24%	-1.06%	-	-	-
EPS ²	0.0890	0.0749	0.000800	-0.0328	-0.0108	0.0151	0.0543	0.0370
Free Cash Flow	982	704	2,502	633	-	-	-	-
FCF margin	17.59%	15.49%	46.46%	12.97%	-	-	-	-
FCF Conversion (EBITDA)	59.09%	42.11%	169.4%	44.58%	-	-	-	-
FCF Conversion (Net income)	228.9%	195.01%	62,550%	-	-	-	-	-
Dividend per Share ²	0.0668	0.0749	0.2729	0.0749	0.0749	0.0724	0.0724	0.0724
Announcement Date	28/02/20	26/02/21	25/02/22	28/02/23	05/03/24	-	-	-

¹HKD in Million²HKD

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	3,975	-	-	-	-	-
Net Cash position ¹	4,987	5,251	-	3,700	3,684	3,402	3,012	2,967
Leverage (Debt/EBITDA)	-	-	2.691 x	-	-	-	-	-
Free Cash Flow	982	704	2,502	633	-	-	-	-
ROE (net income / shareholders' equity)	3.07%	3.01%	0.04%	-1.5%	-0.52%	0.64%	1.44%	1.88%
ROA (Net income/ Total Assets)	2.61%	2.47%	0.03%	-1.04%	-0.35%	-	-	-
Assets	16,407	14,645	15,152	15,201	14,756	-	-	-
Book Value Per Share ²	2.480	2.500	2.240	2.130	2.050	1.980	1.930	1.890
Cash Flow per Share ²	0.3100	0.2700	0.7000	0.2300	0.2300	0.3100	0.3100	0.3500
Capex ¹	503	593	874	496	481	740	1,235	777
Capex / Sales	9.01%	13.05%	16.23%	10.16%	9.82%	14.84%	24.36%	15.19%
Announcement Date	28/02/20	26/02/21	25/02/22	28/02/23	05/03/24	-	-	-

¹HKD in Million²HKD

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

0.98 HKD

Average target price

1.24 HKD

Spread / Average Target

+26.53%

	1st Jan change	Capi.
HUTCHISON TELECOMMUNICATIONS HONG KONG HOLDINGS LIMITED	-8.41%	60Cr
CHINA MOBILE LIMITED	+18.83%	22TCr
VERIZON COMMUNICATIONS	+9.39%	17TCr
DEUTSCHE TELEKOM AG	+7.95%	12TCr
NIPPON TELEGRAPH AND TELEPHONE CORPORATION	-11.90%	7.93TCr
CHINA TELECOM CORPORATION LIMITED	+23.80%	7.39TCr
AMÉRICA MÓVIL, S.A.B. DE C.V.	-1.08%	5.25TCr
SAUDI TELECOM COMPANY	-5.69%	4.98TCr
CHARTER COMMUNICATIONS, INC.	-23.08%	4.31TCr
EMIRATES TELECOMMUNICATIONS GROUP COMPANY	-18.02%	3.81TCr