MTR Corporation 2025 profit drops 6.9 percent, proposes 89 HK cents final dividend

MTR Corporation (0066) recorded a 6.9 percent drop in 2025 net profit to HK$14.7 billion but kept the final dividend unchanged at 89 HK cents. 

Underlying profit, which excludes fair value changes of investment properties, also slid 4.2 percent to HK$16.7 billion. 

Profit from recurrent businesses slumped by 21.6 percent to HK$5.6 billion, impacted by an increase in depreciation, a one-off write-down of certain unamortised rental concessions in the Hong Kong businesses and lower contributions from the mainland businesses.

Earnings from property development rose 8 percent to HK$11.1 billion.

Revenue for the year declined 7.6 percent to HK$55.5 billion, of which, income from Hong Kong transport operations rose 2.5 percent to HK$23.6 billion, but sales from mainland and international railway, property rental and management subsidiaries, the second biggest source of income, plunged 18.8 percent to HK$20.7 billion. 

Revenue from Hong Kong property rental and management businesses slipped by 5.8 percent to HK$5.1 billion while that from local station commercial businesses was flat at HK$5.3 billion.

Its Hong Kong rail and bus passenger services recorded 1.96 billion passengers last year, slightly up by 0.3 percent. 

Operating profit before depreciation, amortization and variable annual payment for the local transport operations grew by 2.7 percent to HK$7.9 billion.