Singapore Telecommunications (Z74) investor relations material

Executive summary

• Underlying net profit after tax (NPAT) for the nine months ended 31 December 2025 rose 12% year-over-year, or 21% excluding last year's Intouch contributions.

• Net profit surged 108% year-over-year for the nine months, driven by exceptional gains from the Airtel stake sale; Q3 net profit rose 44% to S$1.89 billion.

• Operational company (OpCo) EBIT increased 10% year-over-year for nine months and 5.3% in Q3, led by Optus mobile, NCS, and growth engines.

• Regional associates' profit after tax (PAT) grew 13% year-over-year for nine months and 15.4% in Q3, with strong performance in India, Africa, and Thailand.

• Digital InfraCo expanded with the opening of Nxera's largest AI-ready data centre and the acquisition of STT GDC with KKR.

Financial highlights

• Nine-month revenue was S$10.6B, stable with a 2% year-over-year increase; Q3 revenue was S$3.7B, up 0.9% year-over-year.

• EBITDA reached S$2.9B for nine months, up 1% year-over-year (4% on constant currency basis); Q3 EBITDA was S$939M, down 0.4%.

• OpCo EBIT was S$1.2B for nine months, up 10% year-over-year (12% on constant currency basis); Q3 OpCo EBIT was S$362M, up 5.3%.

• Underlying net profit for nine months was S$2.1B (+12% YoY); net profit was S$5.3B (+108% YoY), reflecting large exceptional gains.

• Share of regional associates' post-tax profits up 13% for nine months and 15.4% in Q3.

Outlook and guidance

• FY26 OpCo EBIT growth rate expected between high single digits and low double digits.

• Annual cost savings of S$0.2B on track.

• Regional associates' dividend guidance of S$1.1B affirmed.

• Continued focus on digital infrastructure and AI growth, leveraging recent acquisitions and data centre expansion.

• Dividend from Gulf Development expected in April 2026.