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Axiata net profit surges in FY22 following completion of Celcom-Digi merger

24 Feb 2023

Malaysia’s Axiata has claimed a ‘solid group performance’ in publishing its latest financial results, reporting increases in both revenue and EBITDA for the year ended 31 December 2022 while noting that it ‘came in ahead of its targets and analyst consensus, bolstered by strong underlying performance across most markets’. For the twelve-month period under review Axiata generated consolidated turnover of MYR27.52 billion (USD6.2 billion) on a reported basis, representing year-on-year growth of 6.3%, while EBITDA was up 9.0% on an annualised basis at MYR12.434 billion. Meanwhile, Axiata’s net profit surged in FY22, bolstered by a one-off net gain related to the merger of its domestic unit Celcom Axiata with rival Malaysian cellco Digi Telecommunications, as well as higher revenue foreign exchange gains and lower taxes. As a result of these factors, Axiata’s profit after tax and minority interest (PATAMI) totalled MYR9.766 billon, up from MYR819 million in FY21.

Commenting on the group’s performance, Axiata chairman Tan Sri Shahril Ridza Ridzuan said: ‘The Group’s strength in execution and continued resilience, agility, and speed in addressing the challenges throughout 2022 are reflected in the solid FY22 performance. With the completion of our M&As in 2022, Axiata is on track to strengthening its leadership position in the digital telco and infrastructure businesses across our regional footprint.’

Malaysia, Axiata

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