Singapore Telecommunications ( (SNGNF) ) has released its Q3 earnings. Here is a breakdown of the information Singapore Telecommunications presented to its investors.
Singapore Telecommunications Limited (Singtel) is a major telecommunications company in Asia, providing a wide range of services including mobile, broadband, and digital solutions across the region. It operates in the telecommunications sector and is known for its strategic investments in regional associates and digital infrastructure.
In its latest earnings report for the third quarter and nine months ending December 31, 2024, Singtel announced a significant increase in net profit, driven by strong performances from its subsidiaries Optus and NCS, along with higher contributions from regional associates such as Airtel and AIS. The company also reported a net exceptional gain, contrasting with a loss in the previous year.
Key financial metrics highlighted include a 22% rise in underlying net profit to S$680 million, with net profit more than doubling compared to the same period last year. Operating revenue and EBITDA remained stable, while EBIT saw a 6.2% increase due to lower depreciation charges. Optus and NCS showed robust growth, with Optus benefiting from mobile service revenue increases and NCS experiencing growth in its Gov+ and Telco+ businesses.
Looking ahead, Singtel remains optimistic about the long-term growth potential in Asia, despite current macroeconomic uncertainties. The company plans to continue focusing on opportunities in artificial intelligence, data centers, and global connectivity to drive future growth. Management expects EBIT growth in the high teens to low twenties for the financial year ending March 2025, supported by strategic initiatives and capital management efforts.