Axiata Group Bhd’s net profit soared to RM9.77 billion in the financial year ended Dec 31, 2022 (FY2022) from RM818.90 million in the preceding year, driven by improvement in earnings before interest, taxes, depreciation and amortisation (Ebitda) and one-off net gain from the Celcom-Digi merger.
Total revenue rose to RM21.73 billion from RM19.99 billion in FY2021.
In FY2022, Axiata continued to drive cost excellence achieving capital expenditure savings of RM1.07 billion.
Celcom’s revenue recognition for 11 months led revenue ex-device to shrink by 3.7 per cent to RM5.7 billion (on an equalised basis, revenue ex-device grew by 5.7 per cent). Its sustained cost management and absence of 3G accelerated depreciation however reflected positive Ebitda growth of 9.2 per cent.
Revenue for Indonesia increased by 11.2 per cent to RM8.63 billion mainly due to higher prepaid data revenue, growth in the digital advertising business and higher device sales.
Revenue for Bangladesh rose by 2.5 per cent to RM4.05 billion, mainly driven by higher revenue from growth in prepaid business.
For Sri Lanka, revenue fell by 14.8 per cent to RM2,515.7 million, mainly due to the depreciation of the Sri Lankan Rupee against the ringgit resulting from the current macroeconomic crisis in the country.
Meanwhile, for the fourth quarter ended Dec 31, 2022, the group posted a higher net profit of RM9.97 billion from RM116.02 million, contributed by an off-net gain on the Celcom-Digi merger, higher revenue foreign exchange gains and lower taxes, offset by higher depreciation and amortisation, and finance costs.
Revenue rose by 9.3 per cent to RM5.83 billion from RM5.34 billion previously.
In a separate statement, Axiata chairman Tan Sri Shahril Ridza Ridzuan said that for 2023, the group continues to emphasise operational resilience and sound business fundamentals as it accelerates its pace toward achieving TechCo status.
“Following our net-zero emissions and science-based target commitments last year, Axiata has put in place the governance structures and resources to strengthen and oversee matters relating to sustainability within the group including areas of digital inclusion and climate action.
“Our continued improved MSCI ESG Ratings and FTSE4Good Bursa Malaysia Index performance will be some of the outcomes of our efforts,” he said. — BERNAMA
