Chunghwa Telecom (CHT) Q1 2023 Earnings Call Transcript

For the period ending March 31, 2023

May 9, 2023 4:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good afternoon, ladies and gentlemen. Welcome to Chunghwa Telecom Conference Call for the company's First Quarter 2023 Operating Results. [Operator Instructions] For your information, this conference call is now being broadcasted live over the Internet. Webcast replay will be available within an hour after the conference is finished. Please visit CHT IR website, www.cht.com.tw/ir under the IR Calendar section.

And now I would like to turn it over to Ms. Angela Tsai, the Director of Investor Relations. Ms. Tsai, please go ahead.

Angela Tsai

Thank you. This is Angela Tsai, Director of Investor Relations for Chunghwa Telecom. Welcome to our first quarter 2023 results conference call. Joining me on the call today are Harrison Kuo, our Chairman and CEO; and Vincent Chen, our Chief Financial Officer.

During today's call, management will begin by providing the highlights in our business overview in the first quarter, followed by a discussion of our segment performance and the financial results. After, we will move on to the question-and-answer portion of the call. I'd like to please note the safe harbor statement.

Now I will turn the call over to our Chairman. Chairman, Kuo, please go ahead.

Shui-Yi Kuo

Thank you, Angela, and hello, everyone. Welcome to our first quarter results conference call. As this is the first time I'm speaking to investors, as the Chairman and the CEO of Chunghwa. I would like to thank all our investors for your long-term support over the past years. And looking forward to continuing our relationship going forward. Chunghwa Telecom is truly a trustworthy company with growth opportunities and strong corporate governance.

Now please flip to Slide 4 for the highlights of the first quarter. For beginning, we would like to bring to your attention that NCC, our regulator get its conditional approval of the mergers among our peers in the first quarter, which we believe is a positive move for shipping healthy market competition in Taiwan. Based on the steady 5G penetration and the future industry landscape, we expect stable mobile market development that will further support our revenue growth momentum going forward.

For the results of the first quarter 2023, we were pleased that we beat all financial targets despite the uncertainties in the macroeconomic context. Thanks to the vibrant growth of our three business groups, which all delivered positive year-over-year increases in each segment's revenue and profits.