- NetLink NBN Trust (SGX:CJLU) reported lower 1QFY25 revenue (-2.9% y-o-y), EBITDA (-2.4% y-o-y) and net profit (-9.1% y-o-y), all forming around 24% of our full-year forecasts respectively and in line with our expectations.
- - Read this at SGinvestors.io -
- 1QFY25 EBITDA and net profit were largely lower y-o-y due to lower revenue and a one-off gain of S$1.1m in 1QFY24. Excluding the one-off gain in 1QFY24, EBITDA and net profit would have dropped by around 1% and 6% respectively.
Mixed segmental performance.
- With lower prices, 1QFY25 RAB revenue was slightly lower (-1.5% q-o-q, -0.6% y-o-y) while non-RAB revenue (+2.8% q-o-q, -14.7% y-o-y) dropped sharply due to lower ancillary project revenue (-26.5% q-o-q, -46.4% y-o-y).
- - Read this at SGinvestors.io -
- Connections for non-residential (-0.2% q-o-q, +1.7% y-o-y), NBAP (-1.2% q-o-q, +6.8% y-o-y) and segment (+2.9% q-o-q, +21.6 y-o-y) also grew y-o-y.
Stable interest costs.
- Read more at SGinvestors.io.
