The manager of NetLink NBN Trust has reported a profit after tax of $23.2 million for 1QFY2026 ended June 30, down 9.2% y-o-y.
The group’s revenue for 1QFY2026 grew 1.6% y-o-y to $102.8 million, while ebitda decreased by 1.9% y-o-y to $72 million.
This decline was due to higher operating expenses, which resulted in lower profit after tax and a higher depreciation arising from an expanded asset base.
As at June 30, residential connections stood at 1,513,231, and non-residential connections at 52,905. NBAP connections at 3,386, and segment connections at 3,999. Total connection numbers recorded a slight decline during the quarter.
This was mainly due to the removal of inactive residential connections as part of housekeeping efforts by requesting licensees (RLs). In addition, the non-residential segment saw a drop due to end-user churn between RLs. These declines were partially offset by continued growth in NBAP and segment connections, underpinned by demand from Smart Nation and enterprise infrastructure projects.
As at June 30, gross debt stood at $874 million, while weighted average debt maturity stood at 1.1 years. Net debt over ebitda came in at 2.6 times, and the group had 789% borrowings at fixed rate as at end June.
See also: ISOTeam reports lower FY2025 earnings but upbeat on prospects
Shares in NetLink closed 0.5 cents lower or 0.556% down at 89.5 cents on July 31.
