Q4 2024 CelcomDigi Bhd Earnings Call Transcript
Key Points
- CelcomDigi Bhd (XKLS:6947) reported stable total revenue of MYR12.7 billion for 2024, indicating resilience in market conditions.
- The company achieved a 1.2% quarter-on-quarter improvement in total service revenue, with growth in key segments such as home and fiber, postpaid, and enterprise mobile.
- Integration and transformation initiatives are progressing well, with 75% of network modernization completed and significant IT integration milestones achieved.
- The company expects annual cost savings of MYR700 million to MYR800 million post-integration, enhancing long-term profitability.
- CelcomDigi Bhd (XKLS:6947) has a strong subscriber base of over 20 million, with a notable increase in postpaid subscribers and stable prepaid ARPU.
- The company reported an 11% year-on-year decline in profit after tax due to one-off adjustments and non-cash impairments.
- Prepaid revenue declined due to low activations and consolidation of SIM cards, impacting overall revenue growth.
- CapEx intensity was higher than expected at 18.7% due to investments in JENDELA projects, slightly above the guided range of 15% to 18%.
- There are ongoing costs related to integration efforts, with significant expenses expected to continue into 2025, particularly in IT consolidation.
- The company faces competitive pressures in the home and fiber segment, impacting ARPU and necessitating strategic adjustments.
Hi, good evening, everyone. Welcome to CelcomDigi fourth quarter and full year 2024 earnings call. Today, we have our management team led by Datuk Idham, our CEO; Albern Murty, our Deputy CEO; and our CFO, Dennis.
The management team will walk you through on the key highlights happened in 2024, our operation, market updates, financial review, and our 2025 forecast and guidance. Towards the end of the session, we will take Q&A. Please raise your virtual hand. We call you and you can unmute yourself to use your question.
Okay, without further ado, I invite Datuk Idham to start the presentation.
Thank you, Farah. (spoken in foreign language) good afternoon. Welcome to our earnings call for fourth quarter of 2024, as well as the full year 2024. But before we start, of course, I'm joined by Albern Murty, our Deputy CEO, and I'd like to welcome Dennis Chia, our new CFO to CelcomDigi as well as to this earnings call.
So let me just take through a few key
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