- NetLink NBN Trust (SGX:CJLU)'s results were within expectations. 1Q24 revenue and EBITDA were 25%/25% of our FY24e forecasts. Core residential fibre revenue was up 1.4% y-o-y to S$61.5mil.
- 1Q24 EBITDA was up 3% y-o-y to S$75mil excluding the 38% surge in interest expense to S$4.3mil. Residential connections during the quarter was 4,023, below our trendline growth of 5,500 per quarter.
- - Read this at SGinvestors.io -
- The new fibre rates NetLink can charge its customers is expected to be announced soon. Our base case is that fibre rates will see a modest decline.
The Positive
Opportunity in higher broadband bandwidth.
- - Read this at SGinvestors.io -
The Negatives
Slower than expected residential connections.
- Read more at SGinvestors.io.
Above is the excerpt from report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full report in PDF @ https://www.stocksbnb.com/.
Paul Chew Phillip Securities Research | https://www.stocksbnb.com/ 2023-08-22
Read also Phillip's most recent report:
2023-11-08 NetLink NBN Trust - Stable As Usual.
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
