NetLink NBN Trust - UOB Kay Hian 2025-08-04: Muted 1QFY26 Results In Line Despite Higher Operating Costs

• ​​​​​​For 1QFY26, NetLink NBN Trust (SGX:CJLU) reported higher revenue (+1.9% y-o-y) but lower EBITDA (-1.9% y-o-y) and PATMI (-9.2% y-o-y), forming 24.8%/23.9%/23.4% of our full-year forecasts respectively and just in line with our expectations.

1QFY26: Muted results.

• - Read this at SGinvestors.io -
• Despite lower total connections, 1QFY26 regulated asset base (RAB) revenue was higher (+0.4% y-o-y).

Stable debt profile.

• For 1QFY26, net finance costs were slightly higher (+1.1% y-o-y). Also, NetLink’s 1QFY26 effective average interest rate fell q-o-q to 2.46% (4QFY25: 2.72%) while the group’s borrowings increased slightly q-o-q to S$874m (4QFY25: S$856m) with 78.9% (4QFY25: 70.1%) now on fixed rates.
• - Read this at SGinvestors.io -

Stable segmental performance.

• Read more at SGinvestors.io.

Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

Read also UOB's most recent report:
2025-11-05 NetLink NBN Trust - 1HFY26 A Slight Miss On Higher Depreciation Charges.

Price targets by 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 Dividend Payout Dates & Corporate Actions,
NetLink Trust News