SingTel - DBS Research 2024-05-24: Organic Core Operating Profit To Resume Growth After 6 Years

• SingTel (SGX:Z74)'s 4Q24 underlying earnings of S$581mil (+19% y-o-y, +4% q-o-q) was 16% above our estimates but broadly in line with consensus estimate of S$609mil. Regional associate pre-tax profit rose sharply (+15% y-o-y, +19% q-o-q) to S$644mil, with growth across all the associates on a sequential basis, led by Bharti Airtel.
• - Read this at SGinvestors.io -

Value realisation dividend a surprise

• Final core 2H24 SingTel's dividend of 6 cents per share (87% payout ratio) is in line with our expectations, but SingTel surprised the market with a value realisation dividend of 3.8 cents per share to be paid in two tranches in August 2024 and December 2024.

ST launches “Singtel28”, a new growth strategy for sustained value realisation.

• - Read this at SGinvestors.io -
• NCS received bookings worth S$3bn in FY25F and Nxera is expected to expand its current operational capacity of 62MW to over 155MW.
  • Read more at SGinvestors.io.
  
  
  
  

  
  Above is the excerpt from report by DBS Group Research.
  Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
  
  

  
  
  Sachin MITTAL DBS Group Research | https://www.dbs.com/insightsdirect/ 2024-05-24 SGinvestors.io
  
  

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  Previous report by DBS:
  2024-02-26 SingTel - Focus On Core Operating Profit Trajectory.

  Price targets by 5 other brokers at SingTel Target Prices.

  Listing of research reports at SingTel Analyst Reports.

  Relevant links:
  SingTel Share Price History,
  SingTel Announcements,
  SingTel Dividends & Corporate Actions,
  SingTel News Articles