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CHT Interim / Quarterly Report 2020

Nov 11, 2020

52063_rns_2020-11-11_548856a4-9055-4dc4-9b88-1a09023c43b4.pdf

Interim / Quarterly Report

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3Q 2020 Operating Results

MasterLink Securities November 11, 2020 2020 Taiwan Corporate Day

1

Disclaimer

STATEMENT REGARDING UNAUDITED FINANCIAL INFORMATION

The unaudited financial information under T-IFRSs in this presentation is preliminary and subject to adjustments and modifications. Adjustments and modifications to the financial statements may be identified during the course of the audit /review work, which could result in significant differences from this preliminary unaudited financial information.

NOTE CONCERNING FORWARD-LOOKING STATEMENTS

This presentation contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Statements that are not historical facts, including statements about Chunghwa’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Investors are cautioned that actual events and results could differ materially from those statements as a result of a number of factors including, but not limited to the risks outlined in Chunghwa’s filings with the U.S. Securities and Exchange Commission on Forms F-1, F-3, 6-K and 20-F, in each case as amended. The forward-looking statements in this presentation reflect the current belief of Chunghwa as of the date of this presentation and Chunghwa undertakes no obligation to update these forward-looking statements for events or circumstances that occur subsequent to such date, except as required under applicable law.

This presentation is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer or selling security holder and that will contain detailed information about the company and management, as well as financial statements.

SPECIAL NOTE REGARDING NON-GAAP FINANCIAL MEASURES

A body of generally accepted accounting principles is commonly referred to as "GAAP". A non-GAAP financial measure is generally defined by the SEC as one that purports to measure historical or future financial performance, financial position or cash flows but excludes or includes amounts that would not be so adjusted in the most comparable U.S. GAAP measure. We disclose in this report certain non-GAAP financial measures, including EBITDA. EBITDA for any period is defined as consolidated net income (loss) excluding (i) depreciation and amortization, (ii) total net comprehensive financing cost (which is comprised of net interest expense, exchange gain or loss, monetary position gain or loss and other financing costs and derivative transactions), (iii) other expenses, net, (iv) income tax, (v) cumulative effect of change in accounting principle, net of tax and (vi) (income) loss from discontinued operations.

In managing our business we rely on EBITDA as a means of assessing our operating performance. We believe that EBITDA can be useful to facilitate comparisons of operating performance between periods and with other companies because it excludes the effect of (i) depreciation and amortization, which represents a non-cash charge to earnings, (ii) certain financing costs, which are significantly affected by external factors, including interest rates, foreign currency exchange rates and inflation rates, which have little or no bearing on our operating performance, (iii) income tax and tax on assets and statutory employee profit sharing, which is similar to a tax on income and (iv) other expenses or income not related to the operation of the business.

EBITDA is not a measure of financial performance under U.S. GAAP or T-IFRSs. EBITDA should not be considered as an alternate measure of net income or income from operations, as determined on a consolidated basis using amounts derived from statements of operations prepared in accordance with U.S. GAAP or T-IFRSs, as an indicator of operating performance or as cash flows from operating activity or as a measure of liquidity. EBITDA has material limitations that impair its value as a measure of a company's overall profitability since it does not address certain ongoing costs of our business that could significantly affect profitability such as financial expenses and income taxes, depreciation, pension plan reserves or capital expenditures and associated charges. These non-GAAP measures are not in accordance with or an alternative for GAAP financial data, the non-GAAP results should be reviewed together with the GAAP results and are not intended to serve as a substitute for results under GAAP, and may be different from non-GAAP measures used by other companies.

2

Committed to Improving Shareholder Value

Cash Return

NT$ bn

2020 AGM resolved to distribute NT$32.8 billion to shareholders

  • NT$4.226 per share

  • payout ratio 99.98%

Note:

1. 1 ADR = 10 common shares

2. The regular dividend has been calculated based on total share number 7,757,446,545.

3

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Business Overview

4

+

Mobile

Accelerate 5G deployment and develop innovative application

Always Broadband Connected

Fixed Broadband

300Mbps ↑ Customers YoY 79.5%

Home Wi-Fi (Mesh)

Home Wi-Fi Devices YoY 140%

5

#1 Mobile Services Provider

#1 Mobile Revenue[(a)(b)]

#1 Mobile Subscribers[(c)]

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CHT
38.4%
Other
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Source: Company data, MOTC and NCC statistics Note :

a) Market share as of September 2020

b) Revenues are based on T-IFRSs c) 040 subscribers included

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Other,
15.0%
CHT,
FET, 37.2%
24.0%
TWM,
23.8%
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Lowest Decline in Mobile Service Revenue

Highest Subs & Lowest Churn

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(Billion)
18 0%
16
14 -2%
12
-4%
10
8
-6%
6
4 -8%
2
0 -10%
Q3 19 Q4 19 Q1 20 Q2 20 Q3 20
CHT TWM FET CHT TWM FET
revenue
YoY growth rate
(before IFRS 15 adoption)
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(Thousand)
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12,000 1.6%
1.4%
10,000
1.2%
8,000
1.0%
6,000 0.8%
0.6%
4,000
0.4%
2,000
0.2%
- 0.0%
Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20
CHT TWM FET CHT TWM FET
Subscribers Churn rate
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Note : For TWM and FET, mobile service revenue is derived from mobile ARPU under Residual Value Method times the average subscriber number.

Note : Churn rate for postpaid subscribers

6

Fixed Broadband Service

Broadband Revenue

Fixed Broadband Subs

ARPU( NT$) ARPU( NT$) ARPU( NT$) ARPU( NT$) Fiber Fiber Fiber ≥300M ≥300M
8,000 703 713 715 722 725 700 YoY 79.5%
7,000
6,000 5,225 5,286 5,305 5,356 5,370
600		 4,434 4,405 4,388
4,375		 4,365
5,000 500 35% 36% 37% 38% 39%
3,000
4,000		 4,461 4,515
4,499		 4,530 4,528 300
400
2,000 200 47% 46% 45% 45% 44%
1,000 100 18% 18% 18% 17% 17%
0 0
Q3 19 Q4 19 Q1 20 Q2 20 Q3 20 Sep 19 Dec 19 Mar 20
Jun 20		 Sep 20
(NT$ mn) Broadband Access Data Communications ARPU (Thousand) ADSL Fiber (<100M) Fiber (≥100M)

Note1 : Broadband ARPU is calculated as access plus ISP Note2 : Revenue is calculated based on T-IFRSs

7

MOD/ IPTV Service

(Thousand)

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1,200 2,100
2,050
1,100 2,090 2,082 2,086 2,085 2,080
2,000
1,000 902 921 912 915 906 1,950
1,900
900
1,850
800
1,800
700 1,750
1,700
600
1,650
500 1,600
Q3 19 Q4 19 Q1 20 Q2 20 Q3 20
(NT$ mn) MOD revenue MOD Subs [(Thousand)]
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1,600
1,400 1,347 1,327 1,328 1,264 1,303
1,200
1,000
800
600
400
200
0
Q3 19 Q4 19 Q1 20 Q2 20 Q3 20
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SVOD ： Subscription Video on Demand

MOD Ad Revenue YoY 13.5%

8

ICT Business

YoY 84.9%

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YoY 8.8%

YoY 19.2%

Q3 19 Q4 19 Q1 20 Q2 20 Q3 20

YoY 7.7%

9

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Financials Overview

10

Financials: Income Statement Highlights

Consolidated
Q3 2020
Q3 2019
Growth
%
9M 2020
9M 2019
Growth
%
52.17
50.85
2.6
148.13
152.29
(2.7)
41.74
40.82
2.2
116.54
121.54
(4.1)
10.72
10.01
7.1
31.86
30.72
3.7
8.34
8.09
3.0
25.19
25.02
0.7
1.07
1.04
3.0
3.25
3.22
0.7
20.09
18.81
6.8
58.81
57.08
3.0
38.51
36.99
39.70
37.48		 Consolidated
Q3 2020
Q3 2019
Growth
%
9M 2020
9M 2019
Growth
%
52.17
50.85
2.6
148.13
152.29
(2.7)
41.74
40.82
2.2
116.54
121.54
(4.1)
10.72
10.01
7.1
31.86
30.72
3.7
8.34
8.09
3.0
25.19
25.02
0.7
1.07
1.04
3.0
3.25
3.22
0.7
20.09
18.81
6.8
58.81
57.08
3.0
38.51
36.99
39.70
37.48		 Consolidated
Q3 2020
Q3 2019
Growth
%
9M 2020
9M 2019
Growth
%
52.17
50.85
2.6
148.13
152.29
(2.7)
41.74
40.82
2.2
116.54
121.54
(4.1)
10.72
10.01
7.1
31.86
30.72
3.7
8.34
8.09
3.0
25.19
25.02
0.7
1.07
1.04
3.0
3.25
3.22
0.7
20.09
18.81
6.8
58.81
57.08
3.0
38.51
36.99
39.70
37.48		 Consolidated
Q3 2020
Q3 2019
Growth
%
9M 2020
9M 2019
Growth
%
52.17
50.85
2.6
148.13
152.29
(2.7)
41.74
40.82
2.2
116.54
121.54
(4.1)
10.72
10.01
7.1
31.86
30.72
3.7
8.34
8.09
3.0
25.19
25.02
0.7
1.07
1.04
3.0
3.25
3.22
0.7
20.09
18.81
6.8
58.81
57.08
3.0
38.51
36.99
39.70
37.48		 Consolidated
Q3 2020
Q3 2019
Growth
%
9M 2020
9M 2019
Growth
%
52.17
50.85
2.6
148.13
152.29
(2.7)
41.74
40.82
2.2
116.54
121.54
(4.1)
10.72
10.01
7.1
31.86
30.72
3.7
8.34
8.09
3.0
25.19
25.02
0.7
1.07
1.04
3.0
3.25
3.22
0.7
20.09
18.81
6.8
58.81
57.08
3.0
38.51
36.99
39.70
37.48		 Consolidated
Q3 2020
Q3 2019
Growth
%
9M 2020
9M 2019
Growth
%
52.17
50.85
2.6
148.13
152.29
(2.7)
41.74
40.82
2.2
116.54
121.54
(4.1)
10.72
10.01
7.1
31.86
30.72
3.7
8.34
8.09
3.0
25.19
25.02
0.7
1.07
1.04
3.0
3.25
3.22
0.7
20.09
18.81
6.8
58.81
57.08
3.0
38.51
36.99
39.70
37.48
(NT$bn) Q3 2020 Q3 2019 Growth
%		 9M 2020 9M 2019 Growth
%
Revenues 52.17 50.85 2.6 148.13 152.29 (2.7)
Operating Costs and
Expenses		 41.74 40.82 2.2 116.54 121.54 (4.1)
Income from
Operations		 10.72 10.01 7.1 31.86 30.72 3.7
Net Income2 8.34 8.09 3.0 25.19 25.02 0.7
EPS 1.07 1.04 3.0 3.25 3.22 0.7
EBITDA 20.09 18.81 6.8 58.81 57.08 3.0
EBITDA Margin (%) 38.51 36.99 39.70 37.48

Note:

  1. Financials are prepared in accordance with T-IFRSs. Figures for 2020 are reviewed.

  2. Net income attributable to owners of the parent.

  3. EBITDA = operating income + Depreciation & Amortization.

  4. The calculation of growth rates is based on NT$mn.

11

Financials: Business Segment Revenues

(NT$bn)
Q3 2020		 (NT$bn)
Q3 2020		 Q3 2019 Growth
%		 9M 2020 9M 2019 Growth
%
Domestic Fixed 18.85
15.59		 20.9 49.23
47.23		 4.3
Local 6.16
6.41		 (3.9) 18.42
19.29		 (4.5)
DLD 0.51
0.55		 (7.6) 1.53
1.66		 (7.8)
Broadband Access 4.53
4.46		 1.5 13.56
13.47		 0.7
MOD 0.91
0.90		 0.4 2.73
2.68		 1.9
Mobile 21.63
23.63		 (8.5) 65.27
71.01		 (8.1)
Mobile Service Revenue 14.22
14.73		 (3.5) 42.52
44.12		 (3.6)
Sales of Mobile Handsets,
and Data Cards		 6.97
8.59		 (18.8) 21.81
26.04		 (16.2)
Internet 7.46
7.37		 1.2 22.40
22.23		 0.7
Data Communications 5.37
5.23		 2.8 16.03
15.74		 1.8
Application VAS 1.65
1.54		 7.2 4.79
4.64		 3.2
International Fixed 2.14
2.88		 (25.5) 6.56
8.64		 (24.1)
ILD 0.30
1.18		 (74.2) 1.28
3.71		 (65.6)
Leased line 0.64
0.62		 3.9 1.77
1.95		 (9.5)
Others 2.09
1.38		 51.3 4.67
3.18		 46.9
Total 52.17
50.85		 2.6 148.13 152.29 (2.7)

Note:

  1. Financials are prepared in accordance with T-IFRSs. Figures for 2020 are reviewed.

  2. The calculation of growth rates is based on NT$ mn.

  3. Businesses shown under each segment are highlighted; therefore, sum of the highlighted revenues is not equal to the total.

12

Financials: Costs & Expenses

Consolidated

(NT$bn) Q3 2020 Q3 2019 Growth
%		 9M 2020 9M 2019 Growth
%
Operating Costs 34.51 33.02 4.5 94.70 98.77 (4.1)
Operating Expenses 7.23 7.80 (7.3) 21.84 22.77 (4.1)
Marketing 5.10 5.59 (8.8) 15.45 16.38 (5.7)
General and
Administrative		 1.15 1.12 2.4 3.51 3.43 2.2
R&D Expense 0.98 1.09 (9.9) 2.88 2.96 (2.9)
Total 41.74 40.82 2.2 116.54 121.54 (4.1)

Note:

  1. Financials are prepared in accordance with T-IFRSs. Figures for 2020 are reviewed.

  2. The calculation of growth rates is based on NT$ mn.

13

Financials: Cash Flow

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Consolidated
Growth Growth
(NT$bn) Q3 2020 Q3 2019 9M 2020 9M 2019
% %
Net Cash Flow from
20.44 19.67 3.9 46.91 48.85 (4.0)
Operating Activities
CapEx 4.73 6.04 (21.7) 14.03 16.36 (14.2)
Free Cash Flow 15.71 13.63 15.3 32.88 32.49 1.2
Cash and Cash Equivalents
17.70 24.07 (26.5) 17.70 24.07 (26.5)
at the end of period
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Note:

  1. Financials are prepared in accordance with T-IFRSs. Figures for 2020 are reviewed.

  2. The calculation of growth rates is based on NT$ mn.

  3. Free cash flow is calculated by subtracting CapEx from Net Cash Flows from Operating Activities.

14

Operating Results vs. Forecast

Consolidated
(NT$bn)
Q3 2020
(A)
Q3 2020
（E）
Achieving
%
9M 2020
(A)
2020
(E)
Achieving
%
Revenues
52.17
53.91 ~ 54.22
96.2 ~ 96.8
148.13
214.10 ~ 215.29
68.8 ~ 69.2
Operating
Costs and
Expenses
41.74
44.59 ~ 44.69
93.4 ~ 93.6
116.54
175.51 ~ 175.83
66.3 ~ 66.4
Income
from
Operations
10.72
9.37 ~ 9.87 108.7 ~ 114.5
31.86
38.54 ~ 40.25
79.2 ~ 82.7
Net
Income2
8.34
7.65 ~ 8.21 101.7 ~ 109.2
25.19
30.91 ~ 32.47
77.6 ~ 81.5
EPS
1.07
0.99~ 1.06 101.7 ~ 109.2
3.25
3.99 ~
4.19
77.6 ~ 81.5
EBITDA
20.09
18.75 ~ 19.23 104.5 ~ 107.2
58.81
74.91 ~ 76.53
76.8 ~ 78.5
EBITDA
Margin (%)
38.51
34.78 ~ 35.47
-
39.70
34.99 ~ 35.55
-		 Consolidated
(NT$bn)
Q3 2020
(A)
Q3 2020
（E）
Achieving
%
9M 2020
(A)
2020
(E)
Achieving
%
Revenues
52.17
53.91 ~ 54.22
96.2 ~ 96.8
148.13
214.10 ~ 215.29
68.8 ~ 69.2
Operating
Costs and
Expenses
41.74
44.59 ~ 44.69
93.4 ~ 93.6
116.54
175.51 ~ 175.83
66.3 ~ 66.4
Income
from
Operations
10.72
9.37 ~ 9.87 108.7 ~ 114.5
31.86
38.54 ~ 40.25
79.2 ~ 82.7
Net
Income2
8.34
7.65 ~ 8.21 101.7 ~ 109.2
25.19
30.91 ~ 32.47
77.6 ~ 81.5
EPS
1.07
0.99~ 1.06 101.7 ~ 109.2
3.25
3.99 ~
4.19
77.6 ~ 81.5
EBITDA
20.09
18.75 ~ 19.23 104.5 ~ 107.2
58.81
74.91 ~ 76.53
76.8 ~ 78.5
EBITDA
Margin (%)
38.51
34.78 ~ 35.47
-
39.70
34.99 ~ 35.55
-		 Consolidated
(NT$bn)
Q3 2020
(A)
Q3 2020
（E）
Achieving
%
9M 2020
(A)
2020
(E)
Achieving
%
Revenues
52.17
53.91 ~ 54.22
96.2 ~ 96.8
148.13
214.10 ~ 215.29
68.8 ~ 69.2
Operating
Costs and
Expenses
41.74
44.59 ~ 44.69
93.4 ~ 93.6
116.54
175.51 ~ 175.83
66.3 ~ 66.4
Income
from
Operations
10.72
9.37 ~ 9.87 108.7 ~ 114.5
31.86
38.54 ~ 40.25
79.2 ~ 82.7
Net
Income2
8.34
7.65 ~ 8.21 101.7 ~ 109.2
25.19
30.91 ~ 32.47
77.6 ~ 81.5
EPS
1.07
0.99~ 1.06 101.7 ~ 109.2
3.25
3.99 ~
4.19
77.6 ~ 81.5
EBITDA
20.09
18.75 ~ 19.23 104.5 ~ 107.2
58.81
74.91 ~ 76.53
76.8 ~ 78.5
EBITDA
Margin (%)
38.51
34.78 ~ 35.47
-
39.70
34.99 ~ 35.55
-		 Consolidated
(NT$bn)
Q3 2020
(A)
Q3 2020
（E）
Achieving
%
9M 2020
(A)
2020
(E)
Achieving
%
Revenues
52.17
53.91 ~ 54.22
96.2 ~ 96.8
148.13
214.10 ~ 215.29
68.8 ~ 69.2
Operating
Costs and
Expenses
41.74
44.59 ~ 44.69
93.4 ~ 93.6
116.54
175.51 ~ 175.83
66.3 ~ 66.4
Income
from
Operations
10.72
9.37 ~ 9.87 108.7 ~ 114.5
31.86
38.54 ~ 40.25
79.2 ~ 82.7
Net
Income2
8.34
7.65 ~ 8.21 101.7 ~ 109.2
25.19
30.91 ~ 32.47
77.6 ~ 81.5
EPS
1.07
0.99~ 1.06 101.7 ~ 109.2
3.25
3.99 ~
4.19
77.6 ~ 81.5
EBITDA
20.09
18.75 ~ 19.23 104.5 ~ 107.2
58.81
74.91 ~ 76.53
76.8 ~ 78.5
EBITDA
Margin (%)
38.51
34.78 ~ 35.47
-
39.70
34.99 ~ 35.55
-		 Consolidated
(NT$bn)
Q3 2020
(A)
Q3 2020
（E）
Achieving
%
9M 2020
(A)
2020
(E)
Achieving
%
Revenues
52.17
53.91 ~ 54.22
96.2 ~ 96.8
148.13
214.10 ~ 215.29
68.8 ~ 69.2
Operating
Costs and
Expenses
41.74
44.59 ~ 44.69
93.4 ~ 93.6
116.54
175.51 ~ 175.83
66.3 ~ 66.4
Income
from
Operations
10.72
9.37 ~ 9.87 108.7 ~ 114.5
31.86
38.54 ~ 40.25
79.2 ~ 82.7
Net
Income2
8.34
7.65 ~ 8.21 101.7 ~ 109.2
25.19
30.91 ~ 32.47
77.6 ~ 81.5
EPS
1.07
0.99~ 1.06 101.7 ~ 109.2
3.25
3.99 ~
4.19
77.6 ~ 81.5
EBITDA
20.09
18.75 ~ 19.23 104.5 ~ 107.2
58.81
74.91 ~ 76.53
76.8 ~ 78.5
EBITDA
Margin (%)
38.51
34.78 ~ 35.47
-
39.70
34.99 ~ 35.55
-		 Consolidated
(NT$bn)
Q3 2020
(A)
Q3 2020
（E）
Achieving
%
9M 2020
(A)
2020
(E)
Achieving
%
Revenues
52.17
53.91 ~ 54.22
96.2 ~ 96.8
148.13
214.10 ~ 215.29
68.8 ~ 69.2
Operating
Costs and
Expenses
41.74
44.59 ~ 44.69
93.4 ~ 93.6
116.54
175.51 ~ 175.83
66.3 ~ 66.4
Income
from
Operations
10.72
9.37 ~ 9.87 108.7 ~ 114.5
31.86
38.54 ~ 40.25
79.2 ~ 82.7
Net
Income2
8.34
7.65 ~ 8.21 101.7 ~ 109.2
25.19
30.91 ~ 32.47
77.6 ~ 81.5
EPS
1.07
0.99~ 1.06 101.7 ~ 109.2
3.25
3.99 ~
4.19
77.6 ~ 81.5
EBITDA
20.09
18.75 ~ 19.23 104.5 ~ 107.2
58.81
74.91 ~ 76.53
76.8 ~ 78.5
EBITDA
Margin (%)
38.51
34.78 ~ 35.47
-
39.70
34.99 ~ 35.55
-
(NT$bn)
Q3 2020
(A)		 Q3 2020
（E）		 Achieving
%		 9M 2020
(A)		 2020
(E)		 Achieving
%
Revenues
52.17
53.91 ~ 54.22		 96.2 ~ 96.8 148.13 214.10 ~ 215.29 68.8 ~ 69.2
Operating
Costs and
Expenses
41.74
44.59 ~ 44.69		 93.4 ~ 93.6 116.54 175.51 ~ 175.83 66.3 ~ 66.4
Income
from
Operations
10.72
**9.37 ~ 9.87 **		 108.7 ~ 114.5 31.86 38.54 ~ 40.25 79.2 ~ 82.7
Net
Income2
8.34
**7.65 ~ 8.21 **		 101.7 ~ 109.2 25.19 30.91 ~ 32.47 77.6 ~ 81.5
EPS
1.07
**0.99~ 1.06 **		 101.7 ~ 109.2 3.25 3.99 ~
4.19		 77.6 ~ 81.5
EBITDA
20.09
**18.75 ~ 19.23 **		 104.5 ~ 107.2 58.81 74.91 ~ 76.53 76.8 ~ 78.5
EBITDA
Margin (%)
38.51
34.78 ~ 35.47		 - 39.70 34.99 ~ 35.55 -

Note:

  1. Financials are prepared in accordance with T-IFRSs. Figures for 2020 are reviewed.

  2. Net income attributable to owners of the parent.

  3. EBITDA = operating income + Depreciation & Amortization.

15

Effective and Efficient Capital Expenditure

Capital Expenditure

NT$ bn

==> picture [318 x 279] intentionally omitted <==

----- Start of picture text -----

50
20%
45
14.3%
13.2%
11.9% 11.7% 10.7%
40 9.5%
10%
35
30.7
28.6 1.9 0%
30 26.9
1.1 1.5
1.2 1.3 24.2 2.9
25 1.6 2.8
2.8 1.8 -10%
1.1
20 1.4 9.8 16.4 14.0
10.7 1.2
15 9.7 7.8 0.7 0.6 -20%
0.7 0.3
0.6
10 6.2 5.2
14.6 -30%
5 11.6 12.7 12.1
7.6 7.3
0 -40%
2017 2018 2019 2020 (E) 9M 2019 9M 2020
Domestic Fixed Mobile Internet International Fixed Others
Capex
Capex as % of Revenue
----- End of picture text -----

Budgeted capex for 2020: NT$30.7 bn Continue to focus on core businesses for future investments

  • FTTx

  • 4G

  • 5G

  • IDC/ Cloud

  • Service Platforms

Note: Actual capital expenditure are cash-based.

16

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Q&A

17

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