Ck Hutch Hld Ltd Ord (CKHUF) Q4 2025 Earnings Call

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WEBVTT 00:00:00.301 -- 00:00:05.727 Welcome to the live webcast of CK Hutchison 2025 annual results presentation. 00:00:05.727 -- 00:00:11.194 Our speakers today are Mr. Victor Lee, our chairman, who will join us later, 00:00:11.194 -- 00:00:16.300 Mr. Frank Six, our group co-managing director and group finance director, Mr. 00:00:16.300 -- 00:00:22.267 Dominic Lai, group co-managing director of CK Hutchison and chairman of AS Wilson Group, 00:00:22.267 -- 00:00:27.353 Mr. Kwan Cheung, our group CFO. During the presentation, please feel free 00:00:27.353 -- 00:00:30.891 to put down your question in the chat box which is at the lower right-hand side of the 00:00:30.891 -- 00:00:34.436 screen. The Q&A session will follow the presentation. 00:00:34.436 -- 00:00:39.283 Before I hand over to Frank, please also pay attention to our disclaimer, which you can 00:00:39.283 -- 00:00:43.887 find on page two of the presentation. We can start now. 00:00:44.171 -- 00:00:48.898 Very good. Thank you for being with us. Let's move straight through to slide three. 00:00:48.898 -- 00:00:54.206 I'll go through the usual explanatory deck as expeditiously as we can, but hopefully 00:00:54.206 -- 00:00:56.022 comprehensively. 00:00:56.022 -- 00:01:00.086 So starting on the left-hand side, as you can see, revenues for 2025 were well above 00:01:00.086 -- 00:01:05.472 2024 levels, which is very good news. In fairness, 00:01:05.472 -- 00:01:10.917 that 6% increase came as to 2% from 00:01:10.917 -- 00:01:15.963 Forex differences. We were in a very strong sterling and euro 00:01:15.963 -- 00:01:17.664 environment 00:01:17.664 -- 00:01:20.367 in 2025 compared to 2024. 00:01:20.367 -- 00:01:25.570 But nevertheless, the remaining 4% was underlying, and that's close to 19%. 00:01:25.570 -- 00:01:28...