Maxis FY23 service revenue hits five-year high

Maxis posted a net profit of RM56mil for the fourth quarter.

KUALA LUMPUR: Maxis Bhd’s service revenue hit a five-year high of RM8.57bil in financial year 2023 (FY23), underpinned by revenue growth across its consumer and enterprise businesses.

This brought earnings before interest, tax, depreciation and amortisation (Ebitda) to RM3.96bil and normalised profit after tax to RM1.35bil.

“We delivered solid results in keeping with our promise of sustainable growth.

“We will continue to build upon our solid foundation as the leading integrated telecommunications provider, ensuring we stay laser-focused on providing the best customer experience,” said chief executive officer Goh Seow Eng in a statement.

In the fourth quarter ended Dec 31, 2023 (4Q23), Maxis posted a net profit of RM56mil, which was a quarter of the net profit of RM233mil in the same quarter in 2022.

The group’s earnings per share dropped to 0.7 sen from three sen in the comparative period.

Revenue was higher at RM2.74bil as compared to RM2.55bil in 4Q22.

In line with the performance, the board of directors declared an interim dividend of four sen per share, which brought its full-year payout to 16 sen per share.

For the full financial year, the group’s net profit stood at RM993mil against RM1.15bil in the previous year, while revenue was RM10.18bil against RM9.79bil in FY22.

Over the year, Maxis said it invested a capital expenditure of RM813mil with a focus on ensuring optimal investment to support capacity growth, fibre build and digitalisation.

The group’s operating free cash flow eased to RM2.85bil, affected by tax payments in the year and an advance payment pursuant to the conditional share subscription agreement in relation to Digital Nasional Bhd.

Its cash balance remained stable at RM569mil.

Going forward, Maxis said it remains steadfast in its vision as the leading integrated telco in the country, with its focus on growing mobile, fibre and enterprise.

The telco said its growth will be fuelled by its aim to provide all customers a great experience through continued enhancement of product offerings and value propositions to target different segments.

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