- Driven by higher overall connections, NetLink posted a higher revenue (+1.9% y-o-y) for FY24. However, FY24 EBITDA (-0.9% y-o-y) and PATMI (-5.5% y-o-y) were lower y-o-y, below our expectations.
- - Read this at SGinvestors.io -
- Armed with stable revenue streams and operating cashflows, we continue to like NetLink as a high-yielding, safe-haven stock.
FY24 slightly below expectations.
- NetLink NBN Trust (NetLink, SGX:CJLU) reported higher FY24 revenue (+1.9% y-o-y) but lower EBITDA (-0.9% y-o-y) and net profit (-5.5% y-o-y), forming 98.4%/96.4%/92.5% of our full-year forecasts respectively.
- - Read this at SGinvestors.io -
- Excluding the one-off expense, NetLink's FY24 EBITDA and net profit would have formed around 98% of our full-year forecasts and be within our expectations. As a result, both FY24 EBITDA and PATMI margins were 2.0ppt lower y-o-y.
4QFY24 a weak quarter.
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
Chong Lee Len UOB Kay Hian Research | Llelleythan Tan Yi Rong UOB Kay Hian | https://research.uobkayhian.com/ 2024-05-20
Previous report by UOB:
2023-11-28 NetLink NBN Trust - IMDA Review Completed With Minor Impact; Expected to Start in FY25.
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