StarHub has reported earnings of $38.5 million for its 2HFY2025, versus $78.4 million from the year earlier. This brings its full year ended Dec 31 2025 earnings to $86.4 million, down 46.2% from the preceding FY2024's $160.5 million.
According to StarHub, there were a few key items that distorted the bottom line.
First, there's higher depreciation costs; also, it incurred a one-off forfeiture payment of $14.1 million for the return of a spectrum lot.
There was also the absence of non-recurring DARE+ related provision of $22.6 million utilised in 2024.
Excluding the net impact of the one-off forfeiture payment for the return of the spectrum lot, its NPAT was $100.5 million.
Total revenue was down 3% y-o-y to $1.224 billion for 2HFY2025, bringing full year revenue to $2.35 billion, a slight dip of 0.6% over FY2024.
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The company plans to pay a final dividend of 3 cents per share, bringing its full year payout to 6 cents, which is in line with what it guided for. For 2HFY2024, the company paid a final dividend of 3.2 cents.
For the current FY2026, StarHub plans to pay the higher of 6 cents, or its dividend policy, which is at least 80% of its net profit attributable to shareholders, adjusted for one-off, non-recurring items.
StarHub says its balance sheet remains healthy despite one-off spectrum related payments supported by capital management. Cash and bank balances as of end FY2025 was $857.1 million; net debt to ebitda at 2.0 times.
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"While our regional enterprise business continues to grow, the Singapore consumer telecommunications market has experienced prolonged pricing pressure," says CEO Nikhil Eapen.
"Against this backdrop, our full year results reflect the operating environment, and we remain focused on disciplined execution, operational resilience, and the quality and security of our networks and services.
"At the same time, we are committed to allocating capital responsibly and creating sustainable long-term value for shareholder,” he adds.
This year, the company plans to "defend and grow" market share across core consumer segments.
It wants to scale up its enterprise segment too by helping customers put together new business models and monetisation opportunities.
No thanks to "sustained competitive intensity", for FY2026, StarHub expects its ebitda to lower to around “75% to 80%" of FY2025's $403.6 million.
StarHub shares closed at $1.20 on Feb 11, down 0.83%.
