Singtel TV subscribers up 1,100 in 2Q 2019

Quarter ended 30 June 2019

SINGAPORE — Singtel reported a net profit of S$541 million for the first quarter, down 35% largely due to Airtel’s losses and higher depreciation and amortisation costs in network and spectrum across the Group. Excluding Airtel however, net profit was down 3%. Operating revenue rose 2% in constant currency terms to S$4.11 billion on growth in Consumer Australia and the Group’s digital businesses which continued to scale. Excluding exceptional items mainly from Airtel, underlying net profit was down 22%.

In Singapore, mobile revenue was stable. Higher equipment sales offset the decline in local and roaming voice services. Postpaid customers grew 35,000 this quarter with strong demand for its all-digital, no-contract GOMO plans. Revenue from fixed services was down 3%, excluding contributions from the 2018 FIFA World Cup broadcast in the prior period. Pay-TV customers increased by 1,100 on a sequential quarter basis. Operating expenses fell 6% from strong cost management mainly through digitalisation. However, lower voice revenue resulted in a 4% decline in EBITDA.

Singtel TV

                                                                            FY 18/19  19/20
                                                          --------------------------  -----
                                                             1Q     2Q     3Q     4Q     1Q
                                                          -----  -----  -----  -----  -----
Total Singtel TV customers ('000)                           387    383    381    381    382
On-the-go service customers ('000)*                         109    114    116    118    130

* Mainly customers who signed up for Cast OTT and Singtel TV Go companion apps.