Foreign exchange losses in Indonesia hit Axiata’s revenues, EBITDA

24 Nov 2014

Malaysia-based telecoms group Axiata has published its financial results for the three- and nine-month periods ended 30 September 2014, with year-to-date (YTD) revenues roughly flat year-on-year.

In the first nine months of 2014 Axiata generated a total turnover of MYR13.89 billion (USD4.28 billion), up 0.3% from the same period in the previous year, though it noted that at constant currency levels it would have actually recorded y-o-y growth of 4.2%. In the third quarter of 2014, meanwhile, revenues totalled MYR4.65 billion, representing a decline of 2.0% from the same period a year earlier.

Earnings before interest, tax, depreciation and amortisation (EBITDA) for 9M14 meanwhile declined by 5.9% y-o-y to MYR5.23 billion, though again the decline was slightly lower – 2.3% – at constant currency, ‘driven by the impact’ from the acquisition of Indonesia’s Axis. Third quarter EBITDA stood at MYR1.70 billion, down 11.3% year-on-year. Profit after taxation and minority interests (PATAMI) was also down, declining by 11.2% y-o-y to MYR1.754 billion in 9M14 and down by 11.7% y-o-y to MYR631 million in 3Q14, primarily due to lower group EBITDA and foreign exchange losses in Indonesia.

Malaysia, Axiata