Singtel has outlined a capital expenditure (Capex) strategy of approximately S$2.8 billion for fiscal 2024-25, with a core capital expenditure of around S$1.8 billion.
This includes A$1.4 billion (S$1.2 billion) allocated to Optus and S$0.6 billion for the rest of the Group, reflecting investments in 5G networks in Australia, cybersecurity, and digital transformation initiatives. Additionally, Singtel Group has earmarked S$1 billion for data centers, GPU-as-a-Service infrastructure, and satellite investments, including a replacement for ST-2 by 2028.
Optus has posted revenue of $1,856 million during October-December 2024. Optus has demonstrated strong mobile-driven revenue growth, with a 4.7 percent increase in mobile service revenue attributed to price adjustments in postpaid plans and an expanding prepaid customer base. This, coupled with disciplined cost management, led to a 4.1 percent rise in EBITDA and a notable 45 percent increase in EBIT due to lower depreciation and amortization charges.
Singtel Singapore has posted revenue of $976 million during October-December 2024. Singtel Singapore has faced a 4.8 percent decline in operating revenue due to lower mobile and legacy carriage services, despite a rise in fixed broadband and IoT connectivity revenues. Mobile service revenue fell by 2.6 percent amid price competition and market shifts toward lower-end plans. However, EBITDA saw a 1.1 percent improvement due to cost optimizations, while EBIT remained stable despite increased amortization from spectrum acquisitions.
NCS revenue was $742 million during October-December 2024. NCS has recorded a 5.9 percent rise in operating revenue, primarily from the Gov+ and Telco+ business segments, leading to a 10 percent and 15 percent increase in EBITDA and EBIT, respectively. Strong project bookings of S$816 million highlight future growth potential.
Digital InfraCo reported revenue of $102 million during October-December 2024. Digital InfraCo has faced a 6.4 percent revenue decline, attributed to lower project-based satellite fees and increased operating expenses, leading to a 21 percent decrease in EBITDA and a 51 percent drop in EBIT.
Airtel continued to strengthen its performance, nearly doubling its post-tax contribution to the Group through customer growth and ARPU improvements. In India, mobile revenue increased as more users transitioned to 4G/5G, and quarterly ARPU rose significantly. Airtel Africa also saw operational improvements. However, Bharti Telecom reported a wider net loss due to higher finance costs from additional borrowings.
Telkomsel’s stable net profit was driven by IndiHome’s broadband growth, though its mobile segment suffered from competitive data pricing.
AIS achieved higher operating revenue through mobile and broadband growth, increased device sales, and the consolidation of TTTBB, leading to better EBITDA margins. Despite AIS’ strong performance, Intouch’s net profit declined due to the absence of a one-off gain recorded in the prior year.
Globe Telecom has faced revenue challenges due to typhoon damage but improved EBITDA through cost management, though its net profit was impacted by increased depreciation, finance charges, and lower gains from Mynt.
Baburajan Kizhakedath
