FIBRE network infrastructure provider NetLink NBN Trust on Monday (Nov 4) reported a distribution per unit of S$0.0268 for the half year ended Sep 30, up 1.1 per cent from the S$0.0265 declared in the corresponding period a year ago.
The trustee-manager said the distribution will be paid out to unitholders on Nov 29.
NetLink’s net profit was down 8.3 per cent at S$48.5 million for the first six months of its 2025 fiscal year, compared to the same period last year.
The lower net profit was mainly the result of lower Ebitda (earnings before interest, taxes, depreciation and amortisation) and higher depreciation and amortisation, partially offset by higher income tax credit, said NetLink.
Revenue was down by S$0.5 million or 0.2 per cent at S$204.8 million for H1 FY2025 compared to H1 FY2024, primarily due to lower revenue from ancillary projects (non-regulated asset base revenue) as more government projects were completed in the prior corresponding period.
This was partially offset by higher installation-related and other revenue, co-location revenue and central office revenue, NetLink added.
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Ebita for H1 FY2025 stood at S$143.5 million, 3.8 per cent lower than in H1 FY2024.
The company said this was attributed to higher operating expenses during the period, and the absence of the one-off gain on the disposal of assets in H1 FY2024 (non-operating income).
Earnings per unit stood at S$0.0124 for H1 FY2025, down from S$0.0136 in the year-ago period.
NetLink noted that there were 1.52 million residential connections as at end-September, up from 1.49 million in the year-ago period.
There was a slight increase in non-residential connections to 53,182 in this first half, from 52,568 in H1 FY2024.
The trustee-manager added that it has been investing in its network assets to cater to the growing end-user demand across residential, non-residential, non-building address points and segment connections – a move it believes will increase its regulated asset base.
NetLink said the global political and economic outlook remains uncertain. The company will continue to monitor the evolving macro environment and respond with appropriate measures.
It describes its business model as “resilient and well-supported by predictable revenue streams”.
“The group’s balance sheet and liquidity remain strong, underpinned by stable cash flows and access to financial resources to support ongoing and future capital expenditure,” it added.
NetLink NBN Trust closed at S$0.915, up 1.1 per cent or S$0.01 on Monday before the results were announced.
