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

NetLink NBN Trust - FY24 Slight Miss But Dividends In Line

NetLink Trust (SGX:CJLU) | SGinvestors.ioNetLink Trust (SGX:CJLU)
  • 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

Impact of new regulated pricing on 4Q revenues

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  • 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

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Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @

Hussaini Saifee Maybank Research | 2024-05-16

Previous report by Maybank:
2023-11-06 NetLink NBN Trust - Minor Speed Bumps.

Price targets by 3 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


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