Sunevision Holdings Ltd. · HKEX:1686
Sunevision — FY2024/25 Earnings Presentation
24 slides from Sunevision's earnings presentation, September 2025
Slide 1: FY24/25 Results Presentation
FY24/25 RESULTS PRESENTATION (HKSE: 1686) September 2025
Slide 2: Disclaimer
DISCLAIMER The information contained in these materials is intended for reference and general information purposes only. Neither the information nor any opinion contained in these materials constitutes an offer or advice, or a solicitation, recommendation or suggestion by SUNEVISION Holdings Limited
Slide 3: Agenda
AGENDA •Financial Review •Business Review •Outlook 3
Slide 4: Financial Overview
FINANCIAL OVERVIEW Noel Lok Chief Financial Officer
Slide 5: Delivering Strong Growth in Revenue, Profit and Cash Generation
DELIVERING STRONG GROWTH IN REVENUE, PROFIT AND CASH GENERATION • Revenue increased 10% YoY to HK$2,938mn, revenue from data centre and IT facilities grew by 11% YoY • EBITDA grew a robust 15% YoY to HK$2,128mn with margins improving from 69% to 72% • Net profit increased 8% YoY to HK$979mn despite
Slide 6: Revenue Growth Underpinned by Higher Utilisation
REVENUE GROWTH UNDERPINNED BY HIGHER UTILISATION Revenue up 10% YoY to HK$2,938mn, driven by the launch of MEGA IDC Phase One, new deployments at MEGA Gateway and MEGA Fanling, and positive rental reversions at established sites1 Revenue Designed IT Capacity up to 280MW 2 ~70MW ~78MW ~87MW ~101MW ~1
Slide 7: Growing Revenue from Both Established Sites and New Sites
GROWING REVENUE FROM BOTH ESTABLISHED SITES AND NEW SITES New sites ramp up contributing to revenue growth with solid organic growth from news sites1 and established sites2 driven by power and pricing increments Revenue Mix3 (HK$mn) ▪ Recurring revenue increased 17% to One-off revenue Recurring reve
Slide 8: EBITDA and NPAT Expansion
EBITDA AND NPAT EXPANSION EBITDA up 15% YoY to HK$2,128mn; NPAT up 8% to HK$979mn. EBITDA margin rose to 72% on efficiency gains, while NPAT margin dipped on lower interest capitalisation post-MEGA IDC Phase One launch EBITDA1 and EBITDA Margin NPAT and NPAT Margin (HK$mn) (HK$mn) 41% 72% 72% 39% 71
Slide 9: Strong Operating Cash Flow and Disciplined CAPEX
STRONG OPERATING CASH FLOW AND DISCIPLINED CAPEX Operating cashflow up 23% YoY, with future CAPEX decreasing gradually to align with customer deployment schedules and the phased construction of MEGA IDC Phase Two and beyond Operating Cash Flows1 Net Cash used in Investing Activities IT Load Capacity
Slide 10: Funding Secured with Room for Debt Management
FUNDING SECURED WITH ROOM FOR DEBT MANAGEMENT The lowering of effective interest rates, together with the Group’s strategy of aligning investments with customer demand, enhances flexibility to pursue growth or prioritise debt management Total Debt Effective Interest Rate1 (HK$mn) (HK$mn) B 16,500 17
Slide 11: Business Overview
BUSINESS OVERVIEW Helen Lo Director, Commercial
Slide 12: Business Update
BUSINESS UPDATE • Robust demand in Hong Kong catalysed by AI and cloud adoption. – Both multinational and Chinese customers have stepped up deployments across the Group’s various data centres. – AI inference demand starts to become a driver for cloud expansion in Hong Kong. Chinese customers in part
Slide 13: Solid Growth in FY24/25
SOLID GROWTH IN FY24/25 Substantial data centre space taken up by both hyperscale and financial institutions, together with connectivity demands expected to continue growth FY24/25 Business Mix YoY Growth Description • MEGA-i’s leadership position in connectivity is further strengthened by addition
Slide 14: Established Sites Are Highly Profitable and Keep Growing
ESTABLISHED SITES ARE HIGHLY PROFITABLE AND KEEP GROWING Mature established sites1 are still a significant cash flow generator for the business with high potential for power upgrades • One of the most carrier-dense colocation site Power upgrades at established globally MEGA-i sites • New subsea cabl
Slide 15: New Sites to Capture AI Growth
NEW SITES TO CAPTURE AI GROWTH New sites1 are well-positioned to capture growth under the burgeoning AI wave with their superior infrastructure and excellent ecosystem MEGA Gateway MEGA IDC • 90% of built capacity has been occupied; good mix of cloud, telco and bank customers • Remaining capacity wi
Slide 16: Positive Feedback from Customers Reassures Confidence in Long Term Outlook
POSITIVE FEEDBACK FROM CUSTOMERS REASSURES OUR STRONG CONFIDENCE IN LONG TERM OUTLOOK 1 AI-driven demand begins to materialize • New deployments in MEGA Gateway and MEGA Two primarily involve workloads related to AI applications • The leading five Chinese cloud providers are expanding availability C
Slide 17: Abundant Power Provision to Support Our Growth
ABUNDANT POWER PROVISION TO SUPPORT OUR GROWTH CLP’s robust power provision empowers SUNeVision with the agility to respond promptly and efficiently to evolving customer demands given the short-term headwinds Top 6 Upcoming Data Centres in Hong Kong (by MW)1 Initial phase Future phases 180 MEGA IDC:
Slide 18: Well-Balanced Portfolio
WELL-BALANCED PORTFOLIO A diversified customer portfolio enhances SUNeVision’s resilience and operational stability, as each segment navigates distinct economic cycles — ensuring balanced performance across market conditions Customer Mix1 Top Customers’ Revenue Contribution for FY24/25 Largest Enter
Slide 19: Serving High End Demand with Superior Infrastructure
SERVING HIGH END DEMAND WITH SUPERIOR INFRASTRUCTURE Global leading revenue and EBITDA economics on the back of unrivalled infrastructure and service Revenue economics comparison among global peers EBITDA economics comparison among global peers (HK$/kW/month) (HK$/kW/month) ~2,500 ~2,000 Equivalent
Slide 20: ESG Remains a Key Focus for SUNeVision
ESG REMAINS A KEY FOCUS FOR SUNEVISION Environmental Social Governance Committed to be carbon neutral in Bringing positive impact to the Embed diversity, equality 2050 society and community and inclusion in the business • Obtained LEED Gold Building Design and • Fully supported the Strive and • 63%
Slide 21: Outlook
OUTLOOK Allen Fung Vice Chairman & Executive Director
Slide 22: Outlook
OUTLOOK • Business fundamentals remain strong, supported by firm pricing, high client renewal rates, and a robust connectivity business—underpinned by Hong Kong’s position as a leading regional connectivity hub • Early demand for AI inference workloads is emerging, with significant growth potential;
Slide 23: Q&A
Q&A
Slide 24: Thank You
THANK YOU wale
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