- SingTel reported higher underlying revenue (+1.6% y-o-y) and PATMI (+18% y-o-y) for 3QFY23 (Oct-Dec 2022), driven by NCS, higher data roaming revenue and contributions from regional associates. Both Singapore Consumer and Optus benefitted from the recovery in international travel and ongoing 5G migration while Group Enterprise was stable y-o-y.
- - Read this at SGinvestors.io -
- Maintain BUY rating on SingTel. Target price: S$3.15.
SingTel's 9MFY23 results in line.
- SingTel (SGX:Z74)'s 9MFY23 (Apr-Dec 2022) overall group revenue (-5.1% y-o-y) and underlying PATMI (+7.5% y-o-y) were within our expectations, forming 78% and 74% of our full-year forecasts.
- - Read this at SGinvestors.io -
- For 3QFY23, revenue and EBITDA fell 5.1% y-o-y and 8.0% y-o-y respectively due to the absence of Amobee’s contributions and an 8% decline in the Australian dollar. Excluding these 2 factors, underlying revenue would have increased by 6.0% y-o-y, driven by NCS and higher data roaming revenue, while EBITDA would have decreased by 3.2% y-o-y only.
- Singapore – SingTel's 3QFY23 mobile service revenue (+15.0% y-o-y) and segmental EBITDA (+13.0% y-o-y) surged, driven by the reopening of Singapore’s international borders, higher data roaming and prepaid revenue from 5G.
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
Chong Lee Len UOB Kay Hian Research | Llelleythan TAN UOB Kay Hian | https://research.uobkayhian.com/ 2023-02-17
Read also UOB's most recent report:
2024-03-14 SingTel - Illuminating Value In Optus.Previous report by UOB:
2024-02-26 SingTel - Soft 3QFY24 Results In Line; Forex Movements Continue To Affect Performance.Price targets by 6 other brokers at SingTel Target Prices.
Listing of research reports at SingTel Analyst Reports.
Relevant links:
SingTel Share Price History,
SingTel Announcements,
SingTel Dividends & Corporate Actions,
SingTel News Articles
