HKBN ( (HKBNF) ) has released its Q4 earnings. Here is a breakdown of the information HKBN presented to its investors.
HKBN Ltd. is a telecommunications company based in Hong Kong, known for offering fixed telecommunications network services and a diverse range of IT solutions for enterprises and residential markets. In its latest earnings report, HKBN Ltd. announced a 9% decline in total revenue to HK$10,651 million for the fiscal year 2024, largely due to a drop in handset sales. However, EBITDA grew by 3% to HK$2,365 million, and the company turned a previous year loss into a modest profit of HK$10 million. The company attributed its improved performance to operational efficiencies and a strategic focus on high-margin services. Despite a challenging economic environment and increased financial costs due to high interest rates, HKBN Ltd. continued to enhance its service offerings, particularly in cloud technology and IT solutions, which helped maintain its market position. Looking forward, the company aims to leverage its strong telecommunications infrastructure and strategic initiatives to drive future growth, focusing on advanced broadband services and expanding its presence in the Greater Bay Area. Management remains optimistic about sustaining profitability and enhancing shareholder value in the coming years.
