Pccw Limited · HKEX:8
Pccw — H1 2026 Earnings Presentation
22 slides from Pccw's earnings presentation, Jul 30, 2026
Slide 1: 2026 Interim Results
2026 INTERIM RESULTS For the six months ended 30 June 2026 30 July 2026 Hong Kong
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation may contain “forward-looking statements” that are not historical in nature. These forward-looking statements, which include, without limitation, statements regarding PCCW's future results of operations, financial condition or business prospects, are based
Slide 3: Business Overview
Business Overview Susanna Hui Group Managing Director and Group Chief Financial Officer
Slide 4: Leading Technology, Media, and Telecom Businesses
Leading Technology, Media, and Telecom Businesses OTT Business Free TV & Related Business HKT • Paid subscribers grew to 15.3 million; • FIFA World Cup 2026 and flagship original • Unleashing the power of AI by leveraging enriched content portfolio with premium content drove viewership and advertisi
Slide 5: 1H2026 Financial Highlights
1H2026 Financial Highlights 1H26 % change YoY (US $ million) Consolidated Revenue 2,590 7% Consolidated EBITDA 793 3% By Segment 1H26 % change YoY 1H26 % change YoY Revenue (US $ million) EBITDA (US $ million) HKT 2,396 8% HKT 844 3% OTT 142 OTT 41 Free TV & Related 47 8% Free TV & Related 3 05
Slide 6: Pursuing a Disciplined Dividend Policy
Pursuing a Disciplined Dividend Policy Disciplined Dividend Policy: PCCW 2026 Interim Focus on strengthening the Group’s financial position for sustainable Dividend per Share: growth while also striving to provide returns for our shareholders 9.77 HK cents (HK cents) 37.05 38.04 38.25 38.25 38.25 31
Slide 7: OTT Business
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Slide 8: Sustained SVOD Growth
Sustained SVOD Growth Underpinned by strong content and expanded distribution partnerships 1H2026 SVOD Streaming Bundles 1H2026 Paid Subscribers Revenue Growth YoY 15.3 million +5% +11% YoY No. 1 Asian Platform in GSEA • Refined content strategy focusing on a • Stimulating subscriber acquisition via
Slide 9: Premium, Multi-genre, and Multilingual Content
Premium, Multi-genre, and Multilingual Content Viu Original Chinese Korean Micro Drama • Global English-language drama • Scaled into a core content pillar • A core engagement driver, • Released over 300 titles since launch The Season topped charts across • Consistently top-ranked across anchored by
Slide 10: Driving AI Adoption at Scale
Driving AI Adoption at Scale 1 Efficiency 2 Monetisation 3 Innovation • Improving operational processes and cost • AI-powered content recommendation and • AI-augmented productions deliver special visual efficiency across content production, localisation, CRM capabilities enhanced precision targeting
Slide 11: SVOD Growth and Multiple New Drivers
SVOD Growth and Multiple New Drivers OTT Business Revenue OTT Business EBITDA US $ million US $ million 44 41 153 142 Others SVOD SVOD + 5% YoY 1H25 1H26 1H25 1H26 EBITDA 29% 29% Margin • High-impact content portfolio and deep distribution partnerships drove SVOD revenue growth of 5% YoY • EBITDA im
Slide 12: Free TV & Related Business
Free TV & Related Business y J,
Slide 13: Relatable and Authentic Storytelling Resonates with Audiences
Relatable and Authentic Storytelling Resonates with Audiences and Delivers Greater Value to Advertisers 1H2026 Highlights ViuTV digital membership Drama 3.4 million +4% YoY 1 Average daily viewing time >60 minutes • Drama: In Geek We Trust 2.0 (IT狗2.0) garnered streaming views double the average for
Slide 14: Sustained Growth via Integrated Ecosystem
Sustained Growth via Integrated Ecosystem Jacky Fan’s “淚光萬歲” | TELLER’S “I’m Telling You” Tiger’s “Where It Continues” | Marf’s “Nights Like This” In Geek We Trust 2.0 | COURT! MIRROR’s “ATTENTION” | ZPOT’s “Zpotlight” ROVER’s “2nd Anniversary” | Jer’s “The Shade Of Breathing” Talent Development Liv
Slide 15: Positioned for Continued Growth with a Strong 2H Content and Events Slate
Positioned for Continued Growth with a Strong 2H Content and Events Slate Free TV & Related Business Revenue Free TV & Related Business EBITDA US $ million 47 US $ million 44 8% YoY 6 3 1H25 1H26 1H25 1H26 • Advertising revenue grew, driven by compelling original dramas, • EBITDA reflected investmen
Slide 16: Financial Overview
Financial Overview Marco Wong Head of Investor Relations
Slide 17: Solid Financial Results Driven by TSS and Mobile Growth
Solid Financial Results Driven by TSS and Mobile Growth Adjusted Funds Flow grew to US$338 million. Interim Distribution of 34.80 HK cents per SSU HKT Revenue HKT EBITDA 8% YoY 3% YoY US $ million US $ million 844 818 2,396 2,221 238 130 Mobile Services 309 325 Mobile 537 563 + 5% YoY + 5% YoY Elimi
Slide 18: Efficiency Gains Lower Operating Costs Across the Group
Efficiency Gains Lower Operating Costs Across the Group Operating Expenses US $ million 376 366 3% YoY 130 128 Opex decreased by 3% driven by cost optimisation across the Group HKT reduced opex by 4% driven by deployment of AI to reshape its workflows and network management, coupled with continued e
Slide 19: Capex Eases with Greater Discipline following Major Investment Cycles
Capex Eases with Greater Discipline following Major Investment Cycles Capital Expenditure US $ million 142 138 Mobile capex reflecting improved efficiency following capacity 9 9 3 3 upgrades and network maintenance initiatives 46 45 TSS capex investments largely to support growing demand for its Oth
Slide 20: Debt Maturity Profile
Debt Maturity Profile (US$ million) As of As of (US$ million) Dec 2025 Jun 2026 Proforma(1) As of 30 June 2026 Cash Balance 312 414 HKT Undrawn Facilities Total 2,319 2,631 2,450 2,864 Repaid in July 300 500 213 1,023 750 856 560 601 650 650 64 2026 2027 2028 2029 2030 2031 2032 2036 HKT Bank Loans
Slide 21: Healthy Liquidity
Healthy Liquidity US $ million As of Dec 2025(5) As of Jun 2026(5) As of Jun 2026 Proforma(5)(6) Cash Undrawn Cash Undrawn Cash Undrawn Gross Debt(1)) Gross Debt(1)) Gross Debt(1)) Balance(4) Facilities Balance(4) Facilities Balance(4) Facilities HKT 5,737 312 2,319 6,174 414 2,991 5,965 414 2,450 P
Slide 22: Advancing a Sustainable Future
Advancing a Sustainable Future Empowering People and Communities through AI and Education • Four consecutive years of participation in the Strive and Rise Programme, reaching nearly 730 mentees and introducing generative AI training • Supported AI literacy and AI-assisted English learning for studen