Hong Kong's CK Hutchison Holdings reported a 7% rise in underlying profit to HK$22.3 billion (US$2.85 billion) for last year, despite 'unforeseen challenges' including a legal conflict over Panama ports. Net profit fell 31% to HK$11.84 billion due to a one-time non-cash loss from the 3UK-Vodafone merger. Chairman Victor Li Tzar-kuoi highlighted the group's diversified business as a mitigating factor.
Hong Kong-based ports-to-telecoms conglomerate CK Hutchison Holdings announced on Thursday that its underlying profit reached HK$22.3 billion (US$2.85 billion) last year, up from HK$20.8 billion a year earlier. Including a one-time non-cash accounting loss of HK$10.92 billion related to the merger of its 3UK with Vodafone in the UK, net profit fell 31% to HK$11.84 billion. The company received about £1.3 billion (US$1.73 billion) in net cash from the merger, per its Hong Kong stock exchange filing. Chairman Victor Li Tzar-kuoi said: “Geopolitical pressure has led to a meaningful legal conflict with the Panamanian state relating to the group’s container terminal operations there.” He added: “Notwithstanding this backdrop, the group’s highly diversified business and geographic spread largely mitigates the impact of adverse developments in any particular sector or country. Strong cash generation in the year has placed the group in a solid financial position.” Li also noted the group would continue to “look for opportunities to enhance value for our shareholders through major transaction activity.” CK Hutchison’s net debt to net total capital ratio stood at 13.9% at the end of 2025.
