- Driven by higher revenue contributions across most business segments, NetLink’s 1QFY24 net profit (+2.1% y-o-y) is within our expectations, forming 25% of our full-year forecast.
- The next regulatory review, which we believe may be on an uptrend, is expected to be completed by 2QFY24 and implemented by 4QFY24.
- - Read this at SGinvestors.io -
1QFY24: Steady results in line.
- NetLink NBN Trust (NetLink, SGX:CJLU) reported higher revenue (+0.3% q-o-q, +6.2% y-o-y), EBITDA (+0.1% q-o-q, +3.1% y-o-y) and net profit (+2.9% q-o-q, +2.1% y-o-y), forming 24-25% of our full-year forecasts.
- - Read this at SGinvestors.io -
- On a sequential basis, 1QFY24 revenue was also slightly higher q-o-q, driven higher sequential connections growth.
- Due to higher operating costs, both EBITDA (-0.1ppt q-o-q, - 2.2ppt y-o-y) and net margins compressed y-o-y (+0.7% q-o-q, -1.1ppt y-o-y) in 1QFY24.
Dragged by higher finance costs.
- Read more at SGinvestors.io.
