Chunghwa Telecom Co., Ltd. released its 2026 financial guidance on January 23, 2026, projecting consolidated revenue of NT$241.99 billion to NT$243.68 billion—an increase of 2.5% to 3.2% over the 2025 un‑audited revenue of NT$236.11 billion. The modest upside reflects steady demand for mobile and broadband services, while the company signals confidence that its “Igniting the Future with AI” strategy will sustain growth in emerging business lines.
Operating costs are expected to rise 3.5% to 3.7%, reaching NT$193.99 billion to NT$194.46 billion. The higher cost growth is driven by capital expenditures for distributed AIDC infrastructure, pre‑6G trials, and cybersecurity upgrades. Because operating costs are growing faster than revenue, the company is focusing on margin discipline and operational efficiencies to protect profitability.
Income before tax is forecast at NT$48.71 billion to NT$50.23 billion, translating to earnings per share of NT$4.82 to NT$5.02 versus NT$4.99 in 2025. The slight EPS increase is largely attributable to a higher margin mix from ICT and emerging services, offset by the increased CAPEX. Management highlighted that disciplined cost management and a shift toward higher‑margin AI‑enabled services will sustain earnings growth.
Revenue growth is expected to be driven by four key segments: mobile communications, broadband access, data communications, and emerging businesses. Mobile and broadband demand remain robust, while data communications revenue is expanding as customers migrate to cloud and edge services. Emerging businesses—particularly AI‑powered cloud and cybersecurity solutions—are projected to contribute a growing share of top line, reinforcing the company’s transition from a traditional telecom to an ICT platform.
Chairman and CEO Chih‑Cheng Chien emphasized that the “Igniting the Future with AI” strategy will position Chunghwa as both an enabler and co‑creator for industry digital transformation. He noted that the company will maintain a low debt‑to‑EBITDA ratio and continue its dividend policy, underscoring confidence in cash flow generation while investing heavily in next‑generation infrastructure.
Analyst consensus for 2026 revenue, as reported by FactSet, estimates NT$245.90 billion—slightly above Chunghwa’s guidance—indicating a conservative outlook. EPS guidance aligns closely with consensus estimates, suggesting that the company’s margin expectations are in line with market expectations.
Debt‑to‑equity ratio stands at 2.90%, and EBITDA for the twelve months ended December 31, 2025, was NT$88.77 billion. The company’s ability to keep debt levels manageable while investing in high‑growth areas provides a solid balance‑sheet foundation.
Overall, Chunghwa’s 2026 guidance signals a cautious yet confident outlook. The company is balancing modest revenue growth with disciplined cost control, while aggressively investing in AI, cybersecurity, and pre‑6G infrastructure to drive long‑term value creation.
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