- SingTel (SGX:Z74)'s 1QFY25 results were within expectation. No analyst briefing and limited financials were provided in the 1Q25 update. SingTel's 1QFY25 revenue and EBITDA were 23%/25% of our FY25e forecast.
- - Read this at SGinvestors.io -
- Associate earnings were down 5% y-o-y to S$406mil. A weaker Indonesia rupiah pulled down Telkomsel's net profit by 6.3% points. Bharti suffered from Nigerian Naira translation losses and higher interest expenses from the additional stake in Airtel.
The Positive
Margin improvement in Australia.
- Optus's revenue decline was due to lower ICT and project-based satellite revenue. This was despite the 5% y-o-y growth in mobile revenue supported by postpaid ARPU jumping 5% y-o-y to A$33. EBITDA margins expanded 2% points to 27.6%.
- - Read this at SGinvestors.io -
The Negative
Currency depreciation pulls down associates.
- Associate net earnings declined 5% y-o-y to S$406mil, currency headwind was 4.4% points.
- Read more at SGinvestors.io.
Above is the excerpt from report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full report in PDF @ https://www.stocksbnb.com/.
Paul Chew Phillip Securities Research | https://www.stocksbnb.com/ 2024-08-19
Read also Phillip's most recent report:
2024-11-17 SingTel - Positives In Australia & Asset Monetisation.Previous report by Phillip:
2024-09-01 SingTel - Eyeballing Cost & AI Opportunity.Price targets by 4 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
