- NetLink NBN Trust (SGX:CJLU) reported modest revenue growth (+1% y-o-y), stable EBITDA contributions (flat y-o-y) and a decline in PATAMI (-10% y-o-y).
1HFY26: Slight miss due to elevated depreciation.
- - Read this at SGinvestors.io -
- elevated direct costs on ancillary projects, and
- rising installation costs.
A weaker quarter.
- For 2QFY26, revenue was slightly higher (+2% q-o-q, +0.4% y-o-y) on the back of increased ancillary project revenue (+19% q-o-q, +26% y-o-y) and co-location revenue growth (+5% q-o-q, +12% y-o-y). This helped cushion the decline in overall connections revenue (-0.2% q-o-q, +0.9% y-o-y) driven by higher churn in the non-residential segment.
- - Read this at SGinvestors.io -
Management continues to focus on cashflow: Dividends in line.
- Netlink declared an interim dividend of 2.71 cents/share (1HFY25: 2.68 cents/share), accounting for 50% of our full-year forecast and in line with our expectation. This implies an annualised dividend yield of 5.5%.
Higher non-RAB revenue in the quarter.
- 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/.
Chong Lee Len UOB Kay Hian Research | https://research.uobkayhian.com/ 2025-11-05
Previous report by UOB:
2025-08-04 NetLink NBN Trust - Muted 1QFY26 Results In Line Despite Higher Operating Costs.
Price targets by 4 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
