— AZMAN GHANI/The Star
KUALA LUMPUR: Maxis Bhd
said it recorded its highest-ever service revenue of RM8.87bil in financial year 2024 (FY24), representing a 3.5% increase year-on-year (y-o-y), as it maintained its growth momentum in the consumer and enterprise business segments.
"Improved revenue and disciplined cost management resulted in a 4.1% y-o-y increase in earnings before interest, tax, depreciation and amortisation (Ebitda) to RM4.12bil," said the telco in a statement.
Overall revenue rose to RM10.54bil in FY24, as compared to RM10.18bil in the previous year. Net profit came to RM1.4bil, a 40.6% increase from RM993mil in FY23, representing an earnings per share of 17.8 sen compared to 12.7 sen.
In the fourth quarter of the year alone, Maxis said net profit was RM321mil, nearly six times the net profit of RM56mil in the year-ago quarter, while revenue was higher at RM2.77bil compared to RM2.74bil in 4QFY23.
The board of directors declared a fourth interim dividend of four sen per share and a one-time dividend of one sen per share, in consideration of the company's strong performance for the year.
In 2024, Maxis allocated a capex of RM674mil with a focus on essential investments that enhance its integrated network capabilities.
Operating free cash flow increased to RM3.06bil, driven by enhanced working capital management and operational efficiencies. Cash balance remained stable at RM464mil.
Reporting by segment, Maxis said service revenue in the consumer business rose 2.7% y-o-y due to customer engagement iniatitive and tailored offerings across the mobile and home segments.
"The company maintained strong momentum in postpaid with enhanced plans offering more data and options for customers.
"As for prepaid, Maxis continued to provide customers with the best value through speed and data upgrades. The mobile plans are designed to enhance customer experience, enabling subscribers to fully leverage the benefits of 5G services," it said.
Maxis' enterprise business maintained its growth momentum with service revenue rising 6.8% y-o-y, driven by growth in its core connectivity services as well as adjacent solutions enabled by connectivity, such as cloud, managed services, cybersecurity and the internet of things (IoT).
"We continue to achieve positive results by focusing on what matters most: delivering value to our customers.
"Our sound strategy, combined with disciplined execution, emphasizes customer service, network reliability, and operational efficiency, enabling us to expand our offerings and enhance the customer experience across every market segment,” said Maxis CEO Goh Seow Eng.
