- NetLink NBN Trust's 2QFY25 earnings fell by 11% y-o-y/QoQ, partially owing to 4% y-o-y and q-o-q drop in EBITDA, whereas revenue was up 3% y-o-y and q-o-q.
1HFY25 review: Soft on the surface
- - Read this at SGinvestors.io -
- Despite reported earnings decline in 1HFY25, NetLink NBN Trust declared a 1% increase in dividend of S$2.68 cents, translating to an attractive annual yield of 6%.
Operating metrics – mild surprises but not concerning
- - Read this at SGinvestors.io -
- NetLink NBN Trust's 2QFY25 earnings fell by 11% y-o-y/QoQ, partially owing to 4% y-o-y and q-o-q drop in EBITDA, whereas revenue was up 3% y-o-y and q-o-q.
- NetLink NBN Trust's 1HFY25 earnings fell by 8% y-o-y/4% q-o-q, partially due to higher taxes and a slight EBITDA softness owing to absence of one-off gain from disposal of assets recorded in 1HFY24 (non-operating income). 1HFY25 revenue was stable despite the lower regulatory pricing kicking in from April 2024.
- Despite reported earnings decline in 1HFY25, NetLink NBN Trust declared a 1% increase in dividend of S$2.68 cents, translating to an attractive annual yield of 6%.
- NetLink NBN Trust posted stable RAB revenue y-o-y (85% of group revenues) despite reduction in its regulated pricing from Apr’24.
- Read more at SGinvestors.io.
Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @ https://www.maybanktrade.com.sg/.
Hussaini Saifee Maybank Research | https://www.maybank.com/ 2024-11-05
Previous report by Maybank:
2024-08-05 NetLink NBN Trust - Foundation Of Stability.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
