CelcomDigi Bhd has delivered steady performance in the first six months of 2023 (1H 2023) after its merger in late 2022 driven by focused execution of plans and strategies.
It recorded a 0.3 per cent service revenue growth of RM5.41 billion in 1H FY2023 with strong subscriber additions of over 391,000 to 20.48 million, fueled by its value propositions, chief executive officer Datuk Idham Nawawi said at a results briefing here today.
In line with the company’s 2023 guidance, it is on track to keep growing, he said.
The telecommunication company is guided by its service revenue growth momentum, its earnings before interest, taxes, depreciation and amortisation (EBITDA ) growth from flat to a low single-digit increase as well as ploughing back between 15 and 18 per cent of its revenue as capital expenditure (capex) to intensify network integration.
He said EBITDA and normalised profit after tax, excluding the effects of accelerated depreciation (non-cash items), strengthened 1.8 per cent and 6.5 per cent to RM2.99 billion and RM1.04 billion, respectively, cementing the company’s commitment to deliver industry-leading EBITDA margin of 47.5 per cent and a normalised PAT margin of 16.6 per cent.
“So far, our top line is on track. We have growth momentum. Our EBITDA is on a low single-digit growth in the first half (of the year) and we are escalating our network integration in the third and fourth quarters.
“We have also instill the discipline of the operational excellence, especially around cost management. By maintaining that kind of discipline, and (the way) we allocate capital, we should be able to maintain performance,” he said.
Idham said the company has completed 60 per cent of its network integration and modernisation for 2023, with more than 2,000 sites in 24 clusters consolidated to-date.
The aim is to deliver the widest 4G network with a rise in population coverage to 98 per cent from 96 per cent nationwide with the latest 4G LTE and 5G-ready technology to provide improved quality and experience to subscribers, he said.
“We remain committed to leading 5G adoption and have put in place initiatives such as the CelcomDigi MY5G CEO roundtable series to help businesses realise the true potential of 5G.
“We also look forward to unlocking more value and benefits of 5G for consumers and businesses in the coming months,” he said.
Meanwhile, to make it easy for Malaysians to access 5G, it is offering a wide range of new 5G phone deals at CelcomDigi’s Karnival Jom 5G from today until Sunday, Aug 20, 2023.
It is offering instalment plans from as low as RM26 per month, up to 75 per cent discounts on the latest accessories, freebies, savings and other value deals, the company said.
Source: www.bernama.com
Leave a Comment