NetLink NBN Trust - Maybank Research 2024-05-16: FY24 Slight Miss But Dividends In Line

• NetLink NBN Trust (SGX:CJLU)'s FY24 revenues grew 2% y-o-y while EBITDA declined 3% y-o-y. FY24 revenues and EBITDA came in at 99-100% of street’s full-year estimates.

FY24: slightly soft

• - Read this at SGinvestors.io -
• NetLink Trust's announced 2HFY24 dividends of S$2.65 cents, which translates to an annualized dividend yield of 6.1%. See NetLink Trust's dividend dates.

Impact of new regulated pricing on 4Q revenues

• - Read this at SGinvestors.io -
• We think the decline in revenue could be linked to 2% and 4% downward revision in the regulatory pricing for its residential and non-building access point (NBAP) connections, which came into effect in Jan’24. These two segments combined contributed 65% of the group’s revenues.

Operating metrics – maintained steady growth pace

• Read more at SGinvestors.io.

Above is an excerpt from a report by Maybank Research.
Clients of Maybank Securities may be the first to access the full PDF report @ https://www.maybanktrade.com.sg/.

Read also Maybank's most recent report:
2025-05-19 NetLink NBN Trust - FY25 Operating Metrics In Line, Dividend Beats Consensus.

Previous report by Maybank:
2025-02-11 NetLink NBN Trust - Stability Resurfacing; Earnings Up 12% Q-o-q.

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 Dividend Payout Dates & Corporate Actions,
NetLink Trust News