NetLink NBN Trust recorded a profit after tax of $74.1 million for the 9MFY2025 ended Dec 31, 2024, a 12.9% decrease from the same period a year ago.
The group’s ebitda for the period came in at $216.8 million, down 5.1% y-o-y. The decrease in ebitda was mainly due to lower revenue and non-operating income, along with higher operating costs, says the firm.
It adds that in the 9MFY2024 period, operating costs were lower partly due to a one-off reversal of $6.2 million following the resolution of disputed power charges.
NetLink’s revenue for the 9MFY2025 period came in 0.4% lower y-o-y at $308.2 million, mainly due to lower non-Regulated Asset Base (RAB) revenue because of a reduction in ancillary project revenue. This was partially offset by higher installation-related revenue, the company says.
“RAB revenue remained stable, and the number of residential connections increased from 1,501,032 to 1,517,326 y-o-y, while non-residential connections increased from 53,222 to 53,454,” the firm’s release reads.
Non-Building Address Points (NBAP) connections grew from 2,920 to 3,065 and segment connections grew from 3,397 to 3,832 when compared to the same period a year before.
See also: Jardine Matheson posts loss of US$468 mil, but underlying net profit stood at US$1.47 bil
The group says its focus for the FY2025 is to grow NBAP and segment connections by supporting deployments related to Smart Nation and cloud-based services; to continue to support digitalisation of SMEs by lowering cost of connections; to support the upgrade of the Nationwide Broadband Network to offer up to 10Gbps per connection, among others.
Shares in NetLink NBN Trust closed 0.5 cents lower or 0.581% down at 85.5 cents on Feb 10.
