PETALING JAYA: CelcomDigi Bhd reported an improved performance for the second quarter ended June 30, 2024 (Q2’24), driven by effective market execution and cost management.
Transformation and integration initiatives across products, network and IT, retail, and innovation initiatives continued as planned.
The company delivered a strong Q2’24 with higher net profit on the back of service revenue growth and realising merger synergies and benefits. Earnings before interest and tax and profit after tax improved 14.1% quarter-on-quarter (8.8% year-on-year) and 12.1% q-o-q (19.5% y-o-y) respectively to RM655 million and RM416 million, highlighting the company’s strong underlying profitability.
Service revenue rose 0.3% q-o-q to RM2.695 billion driven by steady revenue growth across its postpaid and home and fibre segments. The company closed the quarter with a total of 20.2 million subscribers.
CelcomDigi declared a second interim dividend of 3.5 sen per share or RM411 million, similar to the past two quarters, in line with its sustainable dividend commitment to shareholders.
The company completed network integration and modernisation efforts in Penang and surpassed the halfway point nationwide, setting it ahead of schedule in building Malaysia’s leading digital network. Within a year, it exceeded 50% of its targeted nationwide upgrades with over 8,500 sites modernised at end July 2024, in what was expected to be a 3-year exercise, proving its ability to rollout mobile network infrastructure projects fast and at scale.
CelcomDigi completed network integration and modernisation efforts in Penang and surpassed the halfway point nationwide, setting it ahead of schedule in building Malaysia’s leading digital network. Within a year, it exceeded 50% of its targeted nationwide upgrades with over 8,500 sites modernised at end-July 2024, in what was expected to be a three-year exercise, proving its ability to roll out mobile network infrastructure projects fast and at scale. At this rate, CelcomDigi is set to complete 75% of network upgrades by end 2024, placing the company in the prime spot to deploy Malaysia’s second 5G network. In the quarter, it invested RM518 million in capital expenditure to deliver on its network and IT integration initiatives.
