FIBRE network provider NetLink NBN Trust posted S$74.1 million profit after tax for the nine months ended December, down 12.9 per cent from S$85.1 million in the previous corresponding period.
This comes amid a decline in earnings before interest, taxes, depreciation and amortisation (Ebitda), as well as higher depreciation and amortisation. This was however partially offset by higher income tax credit, said NetLink on Monday (Feb 10).
Ebitda came in at S$216.8 million for the first nine months of FY2025, down 5.1 per cent from the same period a year ago.
NetLink said the lower Ebitda was mainly due to lower revenue and non-operating income, along with higher operating costs.
In the nine-month period for FY2024, operating costs were lower due to a one-off reversal of S$6.2 million following the resolution of disputed power charges.
Revenue for the nine months in FY2025 was slightly lower at S$308.2 million, down 0.4 per cent from the previous corresponding period. This came amid a reduction in ancillary project revenue, partially offset by higher installation-related revenue.
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As at Dec 31 last year, there were 1.52 million residential connections compared to 1.5 million a year ago. Residential connections made up 60 per cent of NetLink’s revenue in the period.
Non-residential connections increased to 53,454 from 53,222. The number of non-building address point connections rose to 3,065 from 2,920, and segment connections increased to 3,832 from 3,397.
NetLink said it will focus on growing its non-building address point and segment connections in FY2025. The company will do so by supporting deployments related to Smart Nation and cloud-based services.
It also said it will continue to support the digital transformation of small and medium-sized enterprises by lowering the cost of connections.
NetLink also plans on enhancing its co-location facilities to support the upgrading of the nationwide broadband network to offer up to 10 gigabits per second per connection. It also intends to complete the construction of its new central office.
Units of NetLink NBN Trust were trading flat at S$0.855 when the market opened on Tuesday.
