Dialog Axiata PLC has released its consolidated financial results for the three months ended March 31, 2025. Financial results included those of Dialog Axiata PLC (the ‘Company’) and of the Dialog Axiata Group (the ‘Group’).
The Group delivered a strong performance across Mobile, Fixed Line, Digital Pay Television and Tele infrastructure businesses recording a positive Revenue growth of 4% Year on Year (YoY) to reach Rs 43.3 bn for Q1 2025. On a Quarter on Quarter (QoQ) basis Revenue declined by 5% owing to conscious scaling down of low margin international wholesale business amounting to Rs 1.7 bn for Q1 2025. Group Core Revenue was recorded at Rs 41.4 bn for Q1 2025, up 20% YoY albeit declining 2% QoQ due to days impact. Group Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) recorded a growth of 45% YoY to reach Rs19.7Bn albeit declining 7% QoQ due to moderate decline in core Revenue. Headline EBITDA margin improved 12.8 percentage points as compared to Q1 2024. The Group Net Profit After Tax (NPAT) was recorded at Rs 4.1Bn for Q1 2025 up 49% YoY albeit declining 39% QoQ.
The Dialog Group continued to be a significant contributor to state revenue, remitting a Rs. 14.8Bn to the Government during Q1 2025. Total remittances included Direct Taxes and Levies amounting to Rs 4.5 bn and Rs 10.3 bn in Consumption Taxes collected on behalf of the Government
The Dialog mobile network was recognised by third party network monitoring platform as the leader across 5G Experience, Coverage and Overall Experience. The Capital expenditure (Capex) for Q1 2025 reached Rs 3.7 bn representing an increase of 36% YoY. As a result of improved performance and controlled Capex, the Group recorded Operating Free Cash Flow (OFCF) of Rs 12.3 bn for Q1 2025 up 71% YoY and >+100% QoQ.
At an entity level, the Company continued to contribute a major share of Group Revenue (74%) and Group EBITDA (72%) during the quarter. Company Revenue was recorded at Rs32.3Bn up 26% YoY due to consolidation of Airtel business and stable pricing in the consumer space. On a QoQ was down 1% owing to days impact. EBITDA was recorded at Rs 14.2 bn for Q1 2025 representing a growth of 63% YoY on the back of strong revenue performance and moderation in cost increase. On a QoQ basis EBITDA declined by 21% due to higher Network and Manpower costs. The Company NPAT was recorded at Rs2.9Bn for Q1 2025, up 78% YoY albeit declining 64% QoQ.
Dialog Television (DTV), continued to consolidate its leadership position in the Digital Pay Television space, maintaining a strong subscriber base of over 1.6Mn as of end Q1 2025. DTV Revenue reached Rs 3.1 bn for Q1 2025, remaining stable YoY albeit declining 6% QoQ due to slow down in subscription revenue and day’s impact. DTV EBITDA was recorded at Rs 475 mn a growth of 3% YoY while declining 29% QoQ largely in line with the revenue movement. NPAT was recorded at a negative Rs 367 mn for the quarter.
Dialog Broadband Networks (DBN) featuring the Group’s Fixed Telecommunications, Broadband and International Businesses recorded Revenue of Rs9.0Bn for Q1 2025, down 38% YoY and 17% QoQ. The headline Revenue decline was due to the scaling down of low margin international wholesale business. The Core Fixed Business recorded a Revenue of Rs7.8Bn for Q1 2025, up 6% YoY and 2% QoQ. The EBITDA for DBN grew 24% YoY and 82% QoQ to record at Rs5.0Bn for Q1 2025, driven by decline in Network and Manpower costs. NPAT reached Rs1.6Bn for Q1 2025 increasing 72% YoY.
