TIME dotCom claims ‘resilient’ growth in 1Q20

1 Jun 2020

Malaysia’s TIME dotCom has reported revenue totalling MYR293.9 million (USD67.6 million) for the three-months ended 31 March 2020, up 12% year-on-year, on the back of ‘positive contribution across all customer groups’. However, it noted that on a quarter-on-quarter basis turnover was down, falling from MYR295.3 million in 4Q19, attributed to lower voice and data centre revenues, coupled with lower recurring contract revenues. Meanwhile, adjusted EBITDA stood at MYR131.1 million in 1Q20, up from MYR118.9 million in the corresponding period a year earlier. Adjusted profit before tax was up 25% on an annualised basis at MYR97.6 million, with TIME dotCom saying this was ‘mainly due to higher overall revenue growth, lower interest expense, lower depreciation charges and [a] higher share of profit from investment in associates’. TIME dotCom’s capital expenditures in the first three months of 2020 totalled MYR60.6 million, compared to MYR34.0 million in 1Q19, of which 59% was spent on telco assets with a view to expanding domestic network coverage and upgrading the operator’s existing infrastructure.

Malaysia, TIME dotCom