Celcomdigi (CDB) Q2 2025 earnings summary

Executive summary

• Q2 FY2025 revenue grew 2.3% year-over-year to RM3,178 million, driven by device sales and growth in Postpaid and Home & Fibre segments, with EBIT up 12.3% and PAT up 5.5% year-over-year, reflecting strong market execution and cost efficiencies.

• Integration and transformation initiatives, including network, IT, and retail, are progressing as planned, with network consolidation over 84% complete and digital innovation enhancing customer experience.

• Declared a second interim dividend of 3.8 sen per share, the highest since the merger, reflecting a strong commitment to shareholders.

• Subscriber base reached 20.4 million, with Home & Fibre subscribers up 15% and Postpaid subscribers up by 328K year-over-year.

• Achieved RM1,682m in net synergies as of 2Q25, advancing toward RM8b NPV synergy target by 2027.

Financial highlights

• Q2 2025 revenue: RM3,178 million (Q2 2024: RM3,106 million); YTD 2025: RM6,388 million (YTD 2024: RM6,277 million).

• EBIT for Q2 2025 was RM736 million, up 12.3% year-over-year; YTD EBIT up 16.5%.

• PAT for Q2 2025: RM439 million (Q2 2024: RM416 million); YTD PAT: RM827 million (YTD 2024: RM787 million).

• EBITDA margin for Q2 2025 was 43.5%, up 1.5 percentage points sequentially.

• Basic EPS for Q2 2025: 3.74 sen (Q2 2024: 3.46 sen); YTD: 7.01 sen (YTD 2024: 6.67 sen).

Outlook and guidance

• On track to deliver 2025 full-year guidance, with service revenue expected to grow low single digits, EBIT to grow low to mid single digits, and CAPEX intensity targeted at 14%-16%.

• Targeting annualised cost savings of RM700–800 million post-2027 from integration initiatives.

• Focus remains on postpaid, convergence, Home & Fibre, digital value-added services, and network modernization.

• 5G transition to Dual Wholesale Network model underway, with continued investment and collaboration with DNB.

• Continued focus on long-term profitable growth and operational excellence transformation.