Concepts and key ratios
Voice, messaging, data and content.
Service revenues (external)
External net sales excluding equipment sales.
An abbreviation of “Earnings Before Interest, Tax, Depreciation and Amortization.” Equals operating income before amortization, depreciation and impairment losses, and before income from associated companies and joint ventures.
Non-recurring items comprise capital gains and losses, impairment losses, restructuring programs (costs for phasing out operations and personnel redundancy costs) or other costs with the character of not being part of normal daily operations.
Reported equity attributable to owners of the parent less the (proposed) dividend. For the parent company also including untaxed reserves net of tax.
Total assets less non-interest-bearing liabilities and non-interest-bearing provisions, and the (proposed) dividend.
Non-interest-bearing assets less non-interest-bearing liabilities, including the (proposed) dividend, and non-interest-bearing provisions.
Segment assets and liabilities
(Segment operating capital)
As Operating capital, but assets and liabilities exclude items related to foreign currency derivatives and accrued interest as well as to deferred and current tax, respectively, and liabilities exclude the (proposed) dividend.
Interest-bearing liabilities less derivatives recognized as financial assets (and hedging long-term and short-term borrowings) and related credit support annex (CSA), less short term investments, long-term bonds available for sale and cash/cash equivalents.
Net interest-bearing liability
Interest-bearing liabilities and provisions less interest-bearing assets but including investments in associated companies and joint ventures.
Free cash flow
Cash flow from operating activities less cash CAPEX.
An abbreviation of “Capital Expenditure.” Investments in intangible and tangible non-current assets but excluding goodwill, fair-value adjustments and asset retirement obligations.
Acquisitions and other investments
Investments in goodwill and fair-value adjustments, shares and participations, and asset retirement obligations.
EBITDA excluding non-recurring items expressed as a percentage of net sales.
Operating income expressed as a percentage of net sales.
Return on sales
Net income expressed as a percentage of net sales.
Total asset turnover
Net sales divided by average total assets.
Turnover of capital employed
Net sales divided by the average capital employed.
Return on assets
Operating income plus financial revenues expressed as a percentage of average total assets.
Return on capital employed
Operating income plus financial revenues excluding FX gains expressed as a percentage of average capital employed.
Return on equity
Net income attributable to owners of the parent expressed as a percentage of average adjusted equity.
Adjusted equity and equity attributable to non-controlling interests expressed as a percentage of total assets.
Net debt/equity ratio
Net debt expressed as a percentage of adjusted equity and equity attributable to non-controlling interests.
Net debt/EBITDA rate
Net debt divided by EBITDA excluding non-recurring items.
Net debt/assets ratio
Net debt expressed as a percentage of total assets.
Interest coverage ratio
Operating income plus financial revenues divided by financial expenses.
Cash flow from operating activities divided by gross investments.
Earnings and equity per share
Earnings per share are based on the weighted average number of shares before and after dilution with potential ordinary shares, while equity per share is based on the number of shares at the end of the period. Earnings equal net income attributable to owners of the parent and equity is equity attributable to owners of the parent.
Dividend per share divided by basic total earnings per share.
Minutes of usage per subscription and month.
The number of lost subscriptions (postpaid and prepaid) expressed as a percentage of the average number of subscriptions (postpaid and prepaid).
Average monthly revenue per user.
Year-on-year percentage change in the ratio: net sales at fixed prices to average number of full-time employees.
In conformity with international standards, this report applies the following currency notations:
||Hong Kong dollar