Axiata achieves record revenues in FY17

23 Feb 2018

Malaysia-based telecoms outfit Axiata has reported what it termed ‘stellar results’ for the financial year ended 31 December 2017, with the group recording increased revenues and net profit. For the twelve-month period under review, Axiata said ‘strong contributions’ from all of its subsidiaries helped to generate revenues of MYR24.40 billion (USD6.23 billion), the highest it has ever reported, representing year-on-year growth of 13.2%. Group EBITDA rose by 15.2% against FY 2016 to MYR9.23 billion, while the company reported an EBITDA margin of 37.8% (up 0.6% y-o-y) on the back of the improved revenues and cost optimisation initiatives. Indeed, according to Axiata, its cost optimisations delivered savings of MYR1.3 billion in 2017, against a target of MYR800 million. Rounding out its key metrics, Axiata’s net profit surged by 76.9% y-o-y to reach MYR1.16 billion, with it noting that it had achieved this despite significant losses from associate company Idea Cellular, which contributed losses of MYR450 million for the full year period due to ‘unprecedented, super-aggressive competition in India’. Capital expenditures totalled MYR6.27 billion in FY 2017.

Looking to the year ahead, Axiata has said it expects revenue growth of 6.3% and EBITDA growth of 5.8% at constant currency rates, while capital expenditures are forecast at MYR7.4 billion.

Malaysia, Axiata