Axiata says Capex intensity drops to 23.8% in 2023

Axiata said Capex intensity dropped to 23.8 percent as operational excellence initiatives translate to lower capex at Celcom, XL and Robi.

In FY22, Axiata continued to drive cost excellence achieving a Capex savings of RM1.068 billion. The Group closed the year with a robust balance sheet as gross debt/EBITDA decreased to 2.9x compared to two previous quarters primarily impacted by higher debt to fund Link Net and ISOC Philippines tower acquisitions but normalised by the proceeds from the completed M&As. Cash balance remains healthy at RM7.5 billion.