cut & paste von quamnet.com
PCCW praesentierte einen Verlust den kein Analyst erwartete.
Analysten stuften den Verlust auf US$ 3-5Millarden ein (da sieht man mal
wieder wie verschieden die Meinungen sind und eine Gap von 2 Milliarden
ist ja nicht wenig), wobei der Mr ."ohne Abschluss von Standford Uni"
Richard Li den ehemaligen conglomorate HKT mit $44 million Gewinn zu
einem loser conglomorate strategierte.
Zum Thema Standford: PCCW Internet Page beschreibt seit langer Zeit den
CEO Richard Li als Standfor Graduate, wobei wir wissen das er vorzeitig
und ohne Abschluss die Uni verliess.
Pacific Century CyberWorks (0008), Richard Li's communications vehicle, posted a worse-than-expected net loss of US$886 Mln (HK$6.91 billion), or 47.54 HK cents a share, for 2000.
Its first full-year results after merging with HKT last August included a provision of US$667 million, of which US$627 million was for unrealized losses on venture investments in Internet startup and related companies, and the other US$40 million represented impairment losses. Consolidated operating profit was US$67 million before provisions.
Net finance charges were US$302 million. Finance charges include amortization of arrangement fees of US$115 million relating to a short-term bridge loan it took out for acquisition of HKT last year. The interest coverage was 3.5 times.
"We have been focusing on capital restructuring," said Richard Li, chairman. "We converted short-term loans to long-term loans in February. The confident level of interest coverage is 2 times, and now we have 3.5 times interest coverage."
The company also wrote off US$22 billion of HKT goodwill against its reserves. It now has total shareholder deficit of US$1.8 billion.
PCCW said the consolidated results include 12 months for PCCW and 4.5 months for HKT and equity account for the results of the businesses to be injected into the IP backbone company and regional wireless company formed with Telstra Corp. of Australia after the year ended.
Consolidated EBITDA (earnings before interest, tax, depreciation and amortization) were US$191 million for 2000. Chief Operating Officer William Cheung said the company expects to report an EBITDA loss of no more than US$200 million for 2001.
Consolidated revenue was US$935 million, up from US$19 million a year earlier. Assuming the HKT takeover took place at the start of last year, unaudited proforma revenue rose 1 percent to US$2.65 billion. Unaudited proforma EBITDA was US$790 million. The company said it expects revneue to grow in a high single digit this year.
Its existing Internet Protocol backbone business generated unaudited proforma revenue of US$941 million and EBITDA of US$357 million for 2000. Its Hong Kong mobile phone business generated unaudited proforma revenue of US$663 million, up about 5 percent from a year earlier, and EBITDA of US$152 million.
Nomura International telecoms analyst Richard Ferguson had expected PCCW to post a net loss of HK$2.58 billion (US$331 million) for 2000, while UBS Warburg estimated the loss at HK$374 million.
Unaudited proforma business performance highlights:
Telecommunications Services
-Overall telecoms services revenue fell 7 percent year on year, mainly due to a 34 percent decline in IDD revenue. Revenue from IDD services accounted for 13 percent of total telecoms services in December 2000, down from 17 percent a year earlier. Revenue from local exchange lines, broadband and data services accounted for 86 percent, up from 83 percent in 1999.
-Local telephone services revenue increased 8 percent to nearly US$1 billion, reflecting a full year's impact of the increase in residential line tariffs in September 1999. Residential and business line tariffs were increased in January 2001 and this will be reflected in the results for 2001.
-Local data services revenue of US$433 million was driven by a 196 percent increase in wholesale broadband access lines in service to 282,000 and strong demand for other local data and network solutions. The amount of local bandwidth sold rose 27 percent year on year to 86 gigabits per second.
Business eSolutions
-Revenue from Business eSolutions rose 25 percent year on year to nearly US$154 million, driven by major system integration projects for the finance and public sectors.
-The company expanded its Hong Kong Yellow Pages directory business into China through the acquisition of 37.65 percent of China BiG, the nation's largest telecoms directory business, in November 2000.
-Revenue from new DSL-based retail business broadband Internet access services rose 190 percent to US$28 million, with customers for its high-speed @work and Always On services expanding to 19,400 at the end of last year, from 1,400 a year earlier. The services are primarily focused on small to medium-sized enterprises.
Internet Data Centers
-Internet data center revenue rose 120 percent year on year to more than US$15 million following launch of its Powerb@ase services in June 2000.
Business-to-Consumer Services (B2C)
-B2C revenue rose 34 percent year on year to US$143 million, driven by accelerating local takeup in broadband Internet access services. PCCW operates the city's largest Internet access service and broadband takeup during 2000 saw year-on-year customer growth of 506 percent to 194,000 for its 1.5 Mbps Ultraline service. Total Internet access customers at the end of 1000 were 626,000, including 432,000 narrowband customers.
PCCW praesentierte einen Verlust den kein Analyst erwartete.
Analysten stuften den Verlust auf US$ 3-5Millarden ein (da sieht man mal
wieder wie verschieden die Meinungen sind und eine Gap von 2 Milliarden
ist ja nicht wenig), wobei der Mr ."ohne Abschluss von Standford Uni"
Richard Li den ehemaligen conglomorate HKT mit $44 million Gewinn zu
einem loser conglomorate strategierte.
Zum Thema Standford: PCCW Internet Page beschreibt seit langer Zeit den
CEO Richard Li als Standfor Graduate, wobei wir wissen das er vorzeitig
und ohne Abschluss die Uni verliess.
Pacific Century CyberWorks (0008), Richard Li's communications vehicle, posted a worse-than-expected net loss of US$886 Mln (HK$6.91 billion), or 47.54 HK cents a share, for 2000.
Its first full-year results after merging with HKT last August included a provision of US$667 million, of which US$627 million was for unrealized losses on venture investments in Internet startup and related companies, and the other US$40 million represented impairment losses. Consolidated operating profit was US$67 million before provisions.
Net finance charges were US$302 million. Finance charges include amortization of arrangement fees of US$115 million relating to a short-term bridge loan it took out for acquisition of HKT last year. The interest coverage was 3.5 times.
"We have been focusing on capital restructuring," said Richard Li, chairman. "We converted short-term loans to long-term loans in February. The confident level of interest coverage is 2 times, and now we have 3.5 times interest coverage."
The company also wrote off US$22 billion of HKT goodwill against its reserves. It now has total shareholder deficit of US$1.8 billion.
PCCW said the consolidated results include 12 months for PCCW and 4.5 months for HKT and equity account for the results of the businesses to be injected into the IP backbone company and regional wireless company formed with Telstra Corp. of Australia after the year ended.
Consolidated EBITDA (earnings before interest, tax, depreciation and amortization) were US$191 million for 2000. Chief Operating Officer William Cheung said the company expects to report an EBITDA loss of no more than US$200 million for 2001.
Consolidated revenue was US$935 million, up from US$19 million a year earlier. Assuming the HKT takeover took place at the start of last year, unaudited proforma revenue rose 1 percent to US$2.65 billion. Unaudited proforma EBITDA was US$790 million. The company said it expects revneue to grow in a high single digit this year.
Its existing Internet Protocol backbone business generated unaudited proforma revenue of US$941 million and EBITDA of US$357 million for 2000. Its Hong Kong mobile phone business generated unaudited proforma revenue of US$663 million, up about 5 percent from a year earlier, and EBITDA of US$152 million.
Nomura International telecoms analyst Richard Ferguson had expected PCCW to post a net loss of HK$2.58 billion (US$331 million) for 2000, while UBS Warburg estimated the loss at HK$374 million.
Unaudited proforma business performance highlights:
Telecommunications Services
-Overall telecoms services revenue fell 7 percent year on year, mainly due to a 34 percent decline in IDD revenue. Revenue from IDD services accounted for 13 percent of total telecoms services in December 2000, down from 17 percent a year earlier. Revenue from local exchange lines, broadband and data services accounted for 86 percent, up from 83 percent in 1999.
-Local telephone services revenue increased 8 percent to nearly US$1 billion, reflecting a full year's impact of the increase in residential line tariffs in September 1999. Residential and business line tariffs were increased in January 2001 and this will be reflected in the results for 2001.
-Local data services revenue of US$433 million was driven by a 196 percent increase in wholesale broadband access lines in service to 282,000 and strong demand for other local data and network solutions. The amount of local bandwidth sold rose 27 percent year on year to 86 gigabits per second.
Business eSolutions
-Revenue from Business eSolutions rose 25 percent year on year to nearly US$154 million, driven by major system integration projects for the finance and public sectors.
-The company expanded its Hong Kong Yellow Pages directory business into China through the acquisition of 37.65 percent of China BiG, the nation's largest telecoms directory business, in November 2000.
-Revenue from new DSL-based retail business broadband Internet access services rose 190 percent to US$28 million, with customers for its high-speed @work and Always On services expanding to 19,400 at the end of last year, from 1,400 a year earlier. The services are primarily focused on small to medium-sized enterprises.
Internet Data Centers
-Internet data center revenue rose 120 percent year on year to more than US$15 million following launch of its Powerb@ase services in June 2000.
Business-to-Consumer Services (B2C)
-B2C revenue rose 34 percent year on year to US$143 million, driven by accelerating local takeup in broadband Internet access services. PCCW operates the city's largest Internet access service and broadband takeup during 2000 saw year-on-year customer growth of 506 percent to 194,000 for its 1.5 Mbps Ultraline service. Total Internet access customers at the end of 1000 were 626,000, including 432,000 narrowband customers.
