- NetLink NBN Trust (SGX:CJLU)'s FY23 PAT rose 19.7% y-o-y to S$109.3m, ahead/in-line with MIBG/consensus expectations, accounting for 102%/101% of the respective FY23 forecasts. Bottomline increase was mainly contributed by higher revenue from core business and the absence of one-off re-measurement loss (S$12.4m) recorded in FY22.
- - Read this at SGinvestors.io -
Ancillary projects contributed strongly to topline
- Revenue for FY23 increased (+6.8% y-o-y) due to stronger contributions from ancillary project revenue (+155% y-o-y), NBAP (Non-Building Access Point) & segment connections revenue (+29.8% y-o-y) and co-location revenue (+10.5% y-o-y). This was partially offset by lower Central Office revenue (-6.5% y-o-y to S$15.2m) due to a drop in rental space that reduced rental income.
- - Read this at SGinvestors.io -
On the lookout for earnings accretive M&As
- Read more at SGinvestors.io.
Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @ https://www.ketrade.com.sg/.
Kelvin Tan Maybank Research | https://www.maybank-ke.com.sg/ 2023-05-20
Read also Maybank's most recent report:
2023-11-06 NetLink NBN Trust - Minor Speed Bumps.
Previous report by Maybank:
2023-08-18 NetLink NBN Trust - Defensive With Attractive Yield.
Price targets by 4 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
