Commendable Q2 performance for Maxis

Maxis CEO Gökhan Ogut (pic) said the group continues to support the nation by providing the best connectivity for Malaysians in these difficult times.

KUALA LUMPUR: Maxis Bhd reported higher service revenue in the second quarter ended June 30, 2021 (Q221) while normalised earnings before interest, tax, depreciation and amortisation (Ebitda) and also profit after tax showed firm growth.

In a statement yesterday, Maxis said its service revenue for the period rose 3.1% year-on-year to RM1.98bil while it reported strong normalised Ebitda growth of 6.1% to RM1.01bil from a year ago.

Profit after tax grew by 5.3% to RM360mil from RM342mil a year ago. Earnings per share were 4.6 sen compared with 4.4 sen a year ago. It declared a four sen net per share dividend.

Its revenue increased by 5.2% to RM2.26bil from RM2.15bil a year ago.

Maxis described the Q221 as another quarter of resilient performance on the back of its converged solutions strategy, while focusing on providing the best connectivity and support for communities in this challenging environment.

“For Q221, the company continued to see strength in its core mobile and home broadband businesses, driving solid service revenue as well as Ebitda and profit after tax (PAT) growth,” it said.

Resilient service revenue for the said quarter year-on-year (y-o-y) was at RM1.98bil with a healthy growth of 3.1% from the preceding year as converge strategy gains momentum and a higher contribution from fibre and postpaid businesses.

It achieved critical size and scale for home connectivity with 654,000 fibre and wireless subscribers, a strong growth of 28.5% y-o-y.

Its fibre revenue increased by 23.5% to RM163mil with an 18.5% increase in connections y-o-y. This was backed by strong adoption of Maxis Unlimited Postpaid & Fibre and higher-end plans, resulting in monthly average revenue per user (ARPU) remaining firm at RM109.

Healthy postpaid revenue stood at RM1bil, a 2.2% increase since Q220 and a 7.0% y-o-y growth of subscriber base, mainly for Maxis postpaid and Hotlink postpaid subscriber base.

ARPU was healthy at RM81 although lower from RM85 in Q220 due to the dilution effect from increased subscribers adopting Hotlink postpaid.

Maxis said in Q221, it offered more innovative solutions for its customers, and saw solid growth in its Maxis postpaid and Hotlink postpaid subscriber base while keeping a strong prepaid to postpaid momentum with value-accretive Hotlink postpaid take-up.

Maxis CEO Gökhan Ogut said the group continues to support the nation by providing the best connectivity for Malaysians in these difficult times.

“While we are pleased with the strong performance that we have achieved for the quarter, we will remain focused on ensuring that our customers – from individuals, homes, and businesses – have access to the best solutions and services.

“We are committed to investing in Malaysia by driving greater digital adoption for businesses, expanding our network and building new capabilities and talent,” he said.

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