SingTel 4Q hampered by regional operations
SingTel posted a 2.2% fall in net profit for 4Q despite a strong showing from its operations in Singapore and Australia.
Group net profit was S$998 million (€574 million) on revenues of S$4.7 million, as the telecom’s giant’s performance was hampered by its regional associates including Bharti Airtel in India, Telkomsel in Indonesia and Globe in the Philippines.
Bharti’s contribution was affected by its S$9.7 billion acquisition of its Africa business in June last year. Bharti Africa posted pre-tax losses of S$31 million while Bharti South Asia’s contribution declined 9% due to foreign currency movements.
Pre-tax contribution from Telkomsel and Globe declined 10% and 27% respectively.
Total pre-tax earnings from regional mobile operations declined 13% overall to S$518 million,
SingTel’s operations in Singapore offered some respite from the losses, with revenues up 7% to $1.27 billion, led by its mobile business. Ebitda grew 1% to S$587 million.
The telco added 41,000 postpaid and 21,000 prepaid customers in 4Q, boosting mobile revenue 11% to $363.48 million. Postpaid ARPU rose 3% to S$92, with data accounting for more than 40% of that figure.
Data and internet revenue grew 2% to S$401 million.
SingTel’s Australian unit Optus grew 3G subscribers 7% to 4.8 million, and grew ebitda 5% year-on-year to A$553 million (€407 million). Optus’ results were boosted by a stronger Australian dollar.
SingTel also owns stakes in Thailand’s AIS, Pakistan’s Warid and Bangladesh’s PBTL.