NetLink NBN Trust - DBS Research 2022-11-03: Trading At A Fair 6.2% Yield

NetLink NBN Trust - Trading At A Fair 6.2% Yield

Published:
NETLINK NBN TRUST (SGX:CJLU) | SGinvestors.ioNETLINK NBN TRUST (SGX:CJLU)
  • NetLink NBN Trust (SGX:CJLU)’s 1H23 revenue increased by 6.2% y-o-y to S$199.6m, accounting for 51% of our FY23F estimate of S$387.0m. The S$11.7m y-o-y increase in revenue was largely supported by higher ancillary project revenue, connections revenue (residential, non-residential, NBAP and segment), co-location and installation-related revenue which were partially offset by lower Central Office (CO) revenue.
  • - Read this at SGinvestors.io -
  • NetLink Trust's 1H23 net profit was S$54.6m (+36% y-o-y) which was in line with our expectations.

Residential fibre connections continue to inch up along the expected lines.

  • - Read this at SGinvestors.io -
  • On the other hand, non-residential fibre connections grew 1.6% q-o-q to 51,600 connections tracking behind our FY23F estimate of 52,546 while Non-Building Access Points (NBAP) connections and segment connections increased 3.1% and 12% q-o-q, respectively, tracking within our expectations.

Slightly higher DPU declared y-o-y.

  • Read more at SGinvestors.io.




Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.




Sachin MITTAL DBS Group Research | https://www.dbs.com/insightsdirect/ 2022-11-03



Read also DBS's most recent report:
2023-05-23 NetLink NBN Trust - 6% Yield Largely Independent Of Macro Outlook.

Previous report by DBS:
2023-01-10 NetLink NBN Trust - Attractive 6.5% Yield Amid Lower Risk-Free Rate.

Price targets by other brokers at NetLink Trust Target Prices.

Listing of research reports at NetLink Trust Analyst Reports.

Relevant links:
NetLink Trust Share Price History,
NetLink Trust Announcements,
NetLink Trust Dividends & Corporate Actions,
NetLink Trust News Articles





Advertisement

You May Also Like




SGX Stock / REIT Search

Advertisement

Most Read

Trust Bank God Of Fortune Referral Code PGKPSWAE Trust Bank Referral Code 🎁

Advertisement