Axiata boosts turnover, cites ‘strong contribution’ from major subsidiaries

23 Nov 2017

Malaysia-based telecoms group Axiata has reported an almost 14% year-on-year increase in revenues for the quarter ended 30 September 2017, attributed in large part to a ‘strong contribution’ from all of its main operating companies. Group turnover in 3Q17 was MYR6.20 billion (USD1.5 billion), up 13.6% y-o-y and 2.4% quarter-on-quarter, while in the year-to-date (YTD) the company’s revenues were up 15.0% against 9M16, at MYR18.14 billion. Citing the impact of an ongoing cost optimisation programme, meanwhile, group EBITDA increased to MYR6.91 billion for 9M17 (9M16: MYR6.0 billion), with third quarter EBITDA increasing by 18.4% y-o-y to MYR2.48 billion. YTD net profit increased 14.1% y-o-y to MYR1.1 billion, meanwhile, as a result of ‘significant EBITDA improvements and forex translation gains’. However, net profit in the third quarter slumped by 33.4% y-o-y, with this attributed to losses at the group’s Indian unit Idea, and foreign exchange movements.

Axiata’s chairman, Tan Sri Azman Hj. Mokhtar, said of the group’s financial performance: ‘Our markets continue to face strong competition and regulatory uncertainties. In spite of this, Axiata has performed well to record a healthy double digit growth year to date. The Board acknowledges the progress made in the Group’s ongoing cost optimisation programme and operational turnaround of Celcom and XL.’

Malaysia, Axiata