PETALING JAYA: Astro Malaysia Holdings Bhd
’s operating profit slumped again as its annual revenue fell for the eighth consecutive year, dragged down by declining contributions from subscriptions and advertising.
The pay-TV operator reported yesterday that its total revenue from continuing operations declined by 8% year-on-year (y-o-y) to RM3.08bil in the financial year ended Jan 31, 2025 (FY25).
While both of its television and radio segments reported lower revenue in the financial year, the television segment rebounded into profitability.
Meanwhile, Astro’s operating profit fell by about 29% y-o-y in FY25. However, a lower finance cost and the absence of losses from discontinued operations lifted Astro’s net profit by more than three-fold to RM129.15mil.
Net financing costs reduced on the back of favourable unrealised foreign exchange, arising from unhedged lease liabilities and lower amortisation of intangible assets.
It is noteworthy that Astro’s home shopping business ceased its business operations in October 2023.
Astro, which serves 5.3 million homes or 65% of Malaysian TV households, did not pay a dividend for the financial year.
As for the fourth quarter of FY25 (4Q25), Astro’s net profit tumbled by 76.3% y-o-y to RM10.49mil, while revenue also fell by 6.5% to RM766.41mil.
Television segment revenue of RM716mil in 4Q25 was lower by 6.7% y-o-y, mainly arising from the decrease in subscription revenue and advertising revenue.
Radio’s revenue of RM50.2mil in the quarter was slightly lower by 4.2% y-o-y due to soft consumer sentiments leading to lower advertising spend.
Despite the softer results, Astro’s group chief executive officer Euan Daryl Smith said the group has been reshaping its offerings to match customers’ demand.
“Pay TV gross customer additions are up 52% in FY25, our highest level in four years and marks the first time in over a decade that our Pay TV gross additions are trending up year-on-year.
“This contributed towards an 84% reduction in net video customer losses in FY25, a significant reversal that signals our strategies are starting to work.
“At the same time, I am pleased to see that sooka is now making waves as Malaysia’s fastest-growing over-the-top (OTT) platform, with its VIP paying base doubling and monthly active users topping one million, according to data.AI.
“While the overall OTT market has been muted in Malaysia, sooka has stood out by keeping its pricing competitive, offering flexible pass options, and delivering a strong mix of exclusive sports and local content,” said Smith in a statement.
