Tuas Limited (TUA) investor relations material

Executive summary

• Achieved significant financial improvement in FY25, with revenue up 29% year-over-year to $151.3 million and a turnaround to a net profit after tax of $6.9 million from a prior year loss.

• Subscriber base grew 19% to 1.254 million, with market share estimated at 12%.

• Broadband services expanded rapidly, adding 22,000 subscribers to reach 25,600 active services.

• Announced proposed 100% acquisition of M1 Limited (excluding ICT business) for SGD 1.43 billion, funded by cash, equity raise, and bank debt, pending regulatory approval.

• Continued robust subscriber growth in both mobile and broadband segments.

Financial highlights

• Revenue increased to $151.3 million from $117.1 million year-over-year.

• EBITDA rose 38% to $68.4 million, with margin improving to 45% from 42% in FY24.

• Net profit after tax reached $6.9 million, reversing a $4.4 million loss in the prior year.

• Positive cash flow from operations of $81.2 million; ending cash and term deposits at $80.7 million after $55 million in CAPEX.

• Gross mobile ARPU for FY25 was $9.60.

Segment performance

• Active mobile services grew to 1,254,000 by FY25 2H, up from 1,160,000 in FY24 2H.

• Broadband subscriber base reached 25,600, with significant growth driven by high-value, simplified offerings.

• Mobile segment benefited from expanded plan mix and increased inclusions.

• Broadband segment saw increased take-up due to competitive offers and bundled services.