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Dialog revenues, EBITDA and net income all up in 1Q18

14 May 2018

Dialog Axiata of Sri Lanka has reported a strong set of first-quarter financials, highlighting strong growth momentum across all business segments – mobile, broadband, fixed telephony, pay-TV and tele-infrastructure. The group booked consolidated revenues of LKR26.1 billion (USD165.7 million) for the three months ended 31 March 2018, up 5% quarter-on-quarter and 18% year-on-year, underpinned by cost management and operational efficiencies which helped boost EBITDA 9% q-o-q and 38% y-o-y to LKR9.9 billion. Group net profit, meanwhile, declined by 10% when compared to the fourth quarter of 2017, due to a non-cash translational forex loss in 1Q17, it said, but was up 84% on an annualised basis at LKR2.8 billion. Group capital expenditure for Q1 2018 totalled LKR2.4 billion, with the bulk of its investment going toward improving its broadband infrastructure. Indeed, the Group’s Dialog Broadband Networks (DBN) division – which handles Fixed Telecommunications and Broadband Business – recorded revenue of LKR3.7 billion in 1Q18, up 12% q-o-q and 26% y-o-y, supported by strong subscriber gains and expanding network coverage. DBN said its quarterly EBITDA grew 46% y-o-y to LKR2.2 billion, while the division’s net income soared 155% to LKR605 million.

Turning to the mobile sector, the group’s wireless arm continues to contribute the lion’s share of total revenue and EBITDA, as it cemented its leading position in the segment with more than 13 million mobile subscribers. Revenue derived from cellular services climbed 2% from 4Q17 and 13% from 1Q17, to LKR20.6 billion, as EBITDA climbed 33% y-o-y to LKR7.7 billion and wireless net profits improved 43% to LKR2.5 billion.

Sri Lanka, Dialog Axiata

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