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Dialog Axiata Group's H1 revenue grows 10%, profit jumps 21%

Wednesday 14 August 2019 | 10:58 CET | News

Dialog Axiata Group posted revenue of LKR 58.1 billion for the first six months of 2019, which represents an increase of 10 percent year-to-date. Group EBITDA also increased by 11 percent to LKR 23.1 billion, while EBITDA margin rose 2.2 percentage points to 39.8 percent for the first half of 2019. Group revenue remained flat on a quarter-on-quarter basis at LKR 29.1 billion for the secod quarter of 2019. EBITDA declined 9 percent quarter-on-quarter to LKR 11 billion for the three months ended 30 June 2019. On a year-on-year basis, revenue and EBITDA climbed 9 percent and 5 percent, respectively. 

Group net profit jumped 21 percent year-to-date to LKR 6.9 billion for the first half of 2019. On a quarter-on-quarter and year-on-year basis, net profit fell 59 percent and 30 percent, respectively to LKR 2 billion for the second quarter of 2019.

Group capital expenditure for the first half of 2019 reached LKR 8.7 billion, representing a capex to revenue ratio of 15 percent. Capital expenditure was was mainly used for the expansion of the operator’s broadband infrastructure across the country. Group operating free cash flow amounted to LKR 11.5 billion for the first half of 2019, up from LKR 5.8 billion in the first half of 2018. 

At an entity level, Dialog Axiata contributed a major share of Group Revenue (72%) and Group EBITDA (76%). Dialog Axiata revenue declined 1 percent year-to-date to LKR 41.6 billion for the first half of 2019, mainly due to a 25 percent year-to-date drop in international wholesale revenue. Revenue was flat quarter-on-quarter, and declined 2 percent year-on-year to LKR 20.8 billion for the three months ended 30 June 2019. Company EBITDA stood at LKR 17.6 billion for the first half of this year, which represents an increase of 12 percent year-to-date. EBITDA reached LKR 8.3 billion for the second quarter of 2019, down 12 percent quarter-on-quarter and up 3 percent year-on-year. Profit jumped 32 percent year-to-date to LKR 6.8 billion for the first half of 2019, driven by strong EBITDA growth.

Dialog Axiata Group’s Dialog Television saw its subscriber base grow 27 percent year-on-year to 1.3 million at 30 June 2019. Dialog Television revenue jumped 17 percent to LKR 4.3 billio for the 6-month period. Second-quarter revenue reached LKR 2.2 billion, up 5 percent quarter-on-quarter and 23 percent year-on-year. EBITDA grew by 3 percent year-on-year to LKR 1.1 billion for the first half of 2019. Dialog Television’s net loss marginally increased to LKR 269 million in the first half of 2019, compared to a net loss of LKR 256 million for the corresponding period in 2018.

The Dialog Broadband Networks unit, which includes the Group’s Fixed Telecommunications, Broadband and International Businesses, saw its revenue reach LKR 13.4 billion for the first half of 2019, which represents an increase of 87 percent year-to-date, due to the transfer of wholesale business. For the three months ended 30 June 2019, revenue remaining flat on a quarter-on-quarter basis at LKR 6.7 billion. Dialog Broadband Networks EBITDA rose 11 percent year-to-date to LKR 4.7 billion for the first half of 2019, while net profit after tax fell 26 percent year-to-date to LKR 0.8 billion for the first half of this year.



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Categories: Mobile & Wireless
Companies: Axiata / Dialog
Countries: Sri Lanka
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