Axiata Group Berhad (AXIATA) Q4 2024 earnings summary

Executive summary

• FY2024 profit surged to RM947 million (PATAMI), more than doubling year-over-year, driven by operational excellence, cost management, and foreign exchange gains, with all OpCos except Link Net and Dialog contributing to growth.

• Revenue grew 1.9% at constant currency, with EBIT up 39.3%–48.0% and EBITDA up 12.3%, supported by cost optimization and lower CapEx.

• Major strategic moves included the Airtel-Dialog merger in Sri Lanka, Link Net’s consumer segment transfer to XL in Indonesia, and Myanmar infrastructure reclassification as continuing operations.

• Portfolio optimization, market consolidation, and monetization of digital infrastructure assets remained key priorities.

• Discontinued operations posted a loss of RM1,802.4 million, mainly from Nepal impairments and write-offs.

Financial highlights

• FY2024 revenue was RM22.4 billion (constant currency), with EBITDA at RM11.1 billion and EBIT at RM3.8 billion, both more than doubling year-over-year.

• PATAMI grew over 100% to RM947 million, supported by EBIT growth, lower finance costs, and forex gains.

• CapEx was optimized to RM4.1 billion, significantly below the initial RM6.1 billion guidance.

• Dividend payout totaled 10 sen per share, fully funded by OpCo cash flows.

• Net assets per share at year-end was 231 sen, down from 240 sen a year earlier.

Outlook and guidance

• FY2025 guidance targets low single-digit revenue growth and high single-digit EBIT growth, with CapEx guided at RM4.4 billion.

• Continued focus on operational excellence, market repair, and asset monetization, including eDOTCO and Link Net.

• Cost and CapEx management initiatives expected to support EBIT growth.