Snippets
Axiata’s revenue grows 15% to RM18.1b
 23 Nov 2017 21:31
The better performance was due to a group-wide cost-optimisation exercise

Axiata Group Bhd’s revenue for the first nine months of FY17 rose 15% to RM18.1 bil, from RM15.8 bil over the same period last year.

Its cash balance stood at RM6.9 bil from RM6 bil for the nine-month period, while gross debt/Ebitda also improved from 2.6x in full-year 2016 to 2.1x year-to-date (YTD).

“Our markets continue to face strong competition and regulatory uncertainties. In spite of this, Axiata has performed well to record a healthy double digit growth YTD,” says chairman Tan Sri Azman Mokhtar.

The data segment led revenue growth, contributing 44.0% of service revenue, up from 33% in YTD 2016.

The telecommunications group attributed the increase to better-than-market performances from most of its operating companies (OpCos), with a group-wise cost-optimisation initiative contributing nearly RM1 bil.

Its OpCos include mobile service provider Celcom Axiata Bhd, Indonesian mobile operator PT XL Axiata Tbk (XL), and regional integrated telecom infrastructure service company edotco Group Sdn Bhd.

“I am encouraged with the quarter-on-quarter improvements at Celcom. Likewise, XL has been successfully executing on its transformation strategies,” says Axiata president and group CEO Tan Sri Jamaludin Ibrahim.

“edotco’s sustained performance and drive for operational efficiencies are starting to significantly contribute to the group’s financial performance.”