- 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:
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NetLink Trust Dividends & Corporate Actions,
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