Highlight Maxis 4Q net profit falls 23.3% to RM290m, declares total dividends of 16 sen

by **Cals** Wed 12 Feb 2014, 03:03

Highlight Maxis 4Q net profit falls 23.3% to RM290m, declares total dividends of 16 sen

Business & Markets 2014

Written by Ho Wah Foon of theedgemalaysia.com

Tuesday, 11 February 2014 13:57

KUALA LUMPUR (Feb 11): Maxis Bhd posted a net profit of RM290 million for the fourth quarter ended December 2013, down 23.3% from RM378 million in the fourth quarter of 2012.

Revenue for the quarter also decreased to RM2.22 billion, from RM2.31 billion in previous year quarter.

But Maxis announced a fourth interim dividend of eight sen per share and proposed final dividend of eight sen per share, bringing total dividend for the full-year 2013 to 40 sen per share and total dividend pay-out to shareholders to RM3 billion.

“For the quarter under review, Maxis posted a revenue of RM2,224 million mainly due to decline in mobile and international gateway segments," said a Maxis press release issued in conjunction with its results annoucement today.

For the full year, net profit stood at RM1.77 billion, lower than 2012’s RM1.86 billion. But total revenue rose to RM9.08 billion from RM8.97 billion.

In the press release, Maxis said revenue for 2013 grew 1.3% to RM9,084 million on the back of positive contributions across all business segments except the mobile segment.

“Excluding Career Transition Scheme (CTS) costs totalling RM143 million, content cost written-off of RM4 million and provision for contract obligations related to Home services of RM65 million, normalised EBITDA improved 3.7% to RM4,522 million and EBITDA Margin to 49.8%.

“Excluding one-off items, normalised profit after tax (PAT) registered a 2.3% growth to RM2,097 million.”

On the brighter side, the company said Enterprise Fixed segment, identified as Maxis’ future growth driver, posted a year-on-year (yoy) revenue growth of 18.2%.

CEO Morten Lundal said in the statement: “2013 was not the easiest year for Maxis and yet, we successfully delivered stable revenues ... 2014 will be a transformational year for Maxis."

“Looking ahead, it is clear where we need to go and what we need to do…There will be many challenges and much excitement, and we are well-positioned to take advantage of the many opportunities to deliver shareholders' value for the longer term.”