Annual Report

2022

WHO WE ARE

Hutchison Telecommunications (Australia) Limited (“HTAL” or the “Company”) (ASX: HTA) has a 25.05% equity interest in TPG Telecom Limited (ASX: TPG) (“TPG”) (formerly Vodafone Hutchison Australia Limited (“VHA”)). This comprises 11.14% interest directly held by Hutchison 3G Australia Holdings Pty Limited (“H3GAH”, a wholly owned subsidiary of HTAL) and an attributed 13.91% interest indirectly held by H3GAH through Vodafone Hutchison (Australia) Holdings Limited (“VHAH”), a company domiciled in the United Kingdom in which H3GAH has a 50% shareholding. VHAH has a direct 27.82% interest in TPG.

TPG operates a number of leading mobile and internet brands including Vodafone, TPG, iiNet, AAPT, Internode, Lebara and felix, providing consumers with a comprehensive portfolio of fixed and mobile products in the Australian telecommunications market.

OWNERSHIP STRUCTURE

Hutchison Telecommunications Limited Ownership Structure
Hutchison Telecommunications Limited Ownership Structure
ABN 15 003 677 227
Hutchison Telecommunications (Australia) Limited

*% Indirect Ownership

FINANCIAL SUMMARY

2022
$’000

2021
$'000

Movement
$'000

Movement
%

Revenue

194

121

73

60%

Operating expenses

(1,676)

(1,901)

225

12%

Impairment loss on equity accounted investment

(444,617)

(444,617)

N/A

Share of net profit/(loss) of equity accounted investments, net of tax

47,721

(19,897)

67,618

340%

Loss from ordinary activities after tax attributable to members

(398,378)

(21,677)

(376,701)

1,738%

Net loss for the year attributable to members

(398,378)

(21,677)

(376,701)

1,738%

Hutchison Telecommunications (Australia) Limited (“HTAL” or the “Company”) (ASX: HTA) accounts for its interests in TPG Telecom Limited (“TPG”)1 and Vodafone Hutchison (Australia) Holdings Limited (“VHAH”)2 using the equity method of accounting. Under this method, HTAL’s share of net profit/(loss) of these equity accounted investments is reported in HTAL’s consolidated statement of profit or loss and other comprehensive income. For the year ended 31 December 2022, share of net profit/(loss) of these equity accounted investments, after consolidation adjustments, increased to a profit of $47.7 million from a loss of $19.9 million for the comparative year ended 31 December 2021. This represented an increase of $67.6 million, primarily driven by an increase in TPG’s net profit resulting from one-off gain arising from the sale of its passive tower and rooftop assets. The net profit was partially offset by the higher net finance costs of VHAH. Further details are included in Note 10 to the financial statements for the year ended 31 December 2022.

HTAL’s basic earnings/(loss) per share is $(2.94) for the year ended 31 December 2022 (2021: $(0.16)). 
Notes:
  1. HTAL’s 25.05% ownership interest in TPG comprises 11.14% interest directly held by Hutchison 3G Australia Holdings Pty Limited (“H3GAH”), a wholly owned subsidiary of HTAL, and an attributed 13.91% interest indirectly held by H3GAH through VHAH, a company domiciled in the United Kingdom in which H3GAH has a 50% shareholding. VHAH has a direct 27.82% interest in TPG.
  2. A company domiciled in the United Kingdom in which HTAL through H3GAH has a 50% shareholding and which H3GAH jointly controls with a subsidiary of Vodafone Group Plc. VHAH holds a direct 27.82% interest in TPG.
Financial summary
PDF
3.9MB

Operational highlights

6.9%

EBITDA growth YoY

Fixed customers growth YoY

Low Complaints Rate

TIO complaints were less than half the industry average

15%

Vodafone Foundation’s app has been downloaded by

320,000

Users globally and launched in 5 Vodafone markets

Continued 5g network rollout & successful live site testing.
Low Complaints Rate
Highest NPS score every month throughout 2020.
A lead of 2 to 10 points over nearest competitor.

CHAIRMAN’S MESSAGE

Fok Kin Ning, Canning
Chairman

Hutchison Telecommunications (Australia) Limited (“HTAL” or the “Company” (ASX: HTA), and together with its controlled entity, the “Group”) reports a statutory net loss of $398.4 million for the year ended 31 December 2022, compared with a net loss of $21.7 million for the comparative year ended 31 December 2021.

Full message
2020 Key achievements and highlights of tpg

In 2020, TPG:

implemented the merger between VHA and TPM, delivering increased competition, innovation and enhanced network services under a unified and experienced senior management team;

carefully navigated COVID-19 and regulatory challenges to its operations;

introduced 5G technology into its network;

continued to provide great value and service to its customers;

made good progress on its merger integration plans; and

delivered a maiden dividend of 7.5 cents per share to its shareholders.

BOARD OF DIRECTORS

ANNUAL GENERAL MEETING

The Annual General Meeting of shareholders of Hutchison Telecommunications (Australia) Limited (ABN 15 003 677 227) (HTAL) will be held at 177 Pacific Highway, North Sydney, New South Wales on Friday, 5 May 2023 at 10.00 am (Sydney time).

How to find us

We are located at 177 Pacific Highway, North Sydney within a short walking distance of North Sydney train station. Whilst parking is not available onsite, there are various parking stations located nearby.

For public transport information please call 131 500 or visit transportnsw.info.

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Download Notice of AGM 2023Link to share registry