SingTel - OCBC Investment 2023-11-10: Driving Cost Synergies

SingTel - Driving Cost Synergies

SingTel (SGX:Z74) | SGinvestors.ioSingTel (SGX:Z74)
  • SingTel (SGX:Z74)’s 1HFY24 (1 Apr to 30 Sep 2023) operating revenue and EBITDA fell 3.2% and 4.8% y-o-y to S$7.0b and S$1.8b respectively, dragged by an 8% depreciation of the Australian Dollar. In constant currency terms, operating revenue would have grown 1.5% while EBIDA would be stable.

Continued currency headwinds but 1HFY24 results were in-line

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  • On an underlying basis, PATMI increased 11.6% to S$1.1b, in-line with our expectations.
  • An interim core dividend of S$0.052 per share was declared, representing a 13% y-o-y increase and 77% of 1HFY24 underlying net profit. See SingTel's dividend dates.
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New growth engines drove the topline growth


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