Maxis profit grows 5.5% in 2017

Thursday 8 February 2018 | 08:54 CET | News
Malaysian operator Maxis reported normalised EBITDA of MYR 4.59 billion for the full-year 2017, which represents an increase of 2.1 percent year-on-year, reflecting higher revenue and positive results from cost optimisation initiatives. EBITDA margin (on service revenue) reached 53.9 percent against 53.2 percent in 2016. Normalised profit after tax rose 5.5 percent to MYR 2.08 billion on the back of higher EBITDA.

Service revenue slightly increased by 0.8 percent to MYR 8.52 billion from MYR 8.45 billion in 2016. The MaxisOne Plan has now surpassed 2 million subscribers, contributing a high monthly ARPU of MYR 117. Prepaid revenue declined by 3.7 percent to MYR 3.84 billion due to lower subscription base. cHotlink FAST subscriptions grew to more than 2 million with stable ARPU of MYR 43 per month.

Maxis declared a fourth interim dividend of 5 sen net per share, bringing the full year dividend of 20 sen net per share for the year.

Fourth-quarter service revenue declined 2.1 percent to MYR 2.1 billion, mainly attributed to a lower prepaid revenue. Normalised EBITDA was lower at MYR 1.16 billion against MYR 1.18 billion. This was due to lower total revenue, a one-off operation and maintenance cost and higher realised foreign exchange losses in the fourth quarter of 2017. Normalised PAT declined 2 percent to MYR 537 million as compared to MYR 548 million due to lower EBITDA.

Blended data consumption almost doubled to 7.4GB from 4.1GB per month year-on-year. This was supported by the increase in smart-phone penetration which stood at 81 percent from 76 percent in 2016. The operator reports that its 4G LTE network currently covers 92 percent of the population.

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