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Huawei New Zealand Reported Improved Sales and Revenues for 2019

[20 May 2020] Huawei New Zealand has reported improved sales and revenues for the year ended 31 December 2019, despite being effectively excluded from 5G network builds.

The company recorded $198.8 million in sales, up from $188.6 million in 2018. Gross profit was up as well, from $34 million to $41.9 million.

Net profit at $4.9 million after tax was, however, slightly down from $5 million.

Revenue from the sale of goods was up to $167.5 million from $153.6 million while services and construction revenues were both lower.

Speaking in early April, deputy CEO of Huawei NZ Andrew Bowater said even in countries where Huawei's activities were restricted, there was still a lot of business to be done and that also applied in New Zealand.

"That still leaves us with a fruitful business and able to trade and do what we do to keep moving forward," he said.

"It goes to show that the relationships we have with customers around the world and particularly here in New Zealand are still solid. They still want our kit and our business remains stable and able to meet the needs of Kiwi customers. There's reason for optimism here," he said. 

"The business remains solid and we are certainly committed to staying in New Zealand and doing the best we can for the market. Stable would be the way I would describe it."

Earlier this month, Huawei took up a sponsorship of Emirates Team New Zealand for its defence of the America’s Cup in 2021, becoming the team's official smart device partner.