- SingTel reported robust 9MFY25 underlying net profit of S$1,870m (+11% y-o-y) on the back of good cost control and higher associate earnings. Accounting for 73% of our full-year net forecasts, we deem the results in line with our expectations.
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9MFY25: A strong set of results.
- 3QFY25 revenue (+1% y-o-y), EBITDA (+1% y-o-y) and underlying net profit (+18% y-o-y) were higher, driven by:
- strong performances from Optus and NCS on the back of price uplifts and higher margins,
- lower operating costs from the group’s cost-out programme, and
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- Reported earnings jumped 183% y-o-y to S$1,319m with the recognition of exceptional gains from disposal of partial stakes in Intouch and Indara, and the Group’s share of Airtel’s net exceptional gains.
Optus: Market repair.
- On a constant currency basis, 3QFY25 operating revenue rose 4% y-o-y, driven by a 5% y-o-y increase in mobile service revenue. The quarter experienced higher postpaid ARPU from price uplifts and increased prepaid customers. Mobile equipment revenue also rose due to increased sales of high-end devices.
- Improved mobile performance coupled with disciplined cost management saw EBITDA inch up 4% y-o-y.
Singapore: A stable quarter; focus on cost discipline.
- Read more at SGinvestors.io.
