Celcomdigi (CDB) Q2 2025 earnings summary

Executive summary

• Q2 2025 revenue grew 2.3% year-over-year to RM3,178 million, driven by strong performance in postpaid and home/fiber segments, high-value subscribers, and higher device sales.

• EBIT rose 12.3% year-over-year to RM736 million, with PAT up 5.5% to RM439 million, reflecting cost control, improved margins, and operational excellence.

• Integration and transformation initiatives, including network, IT, and retail modernization, are progressing as planned, delivering synergies and enhanced customer experience.

• Dividend per share increased to 3.8 sen in Q2 2025, the highest since the merger, reflecting a strong commitment to shareholders.

• Subscriber base reached 20.4 million, with significant growth in Home & Fibre and Postpaid segments.

Financial highlights

• Q2 2025 revenue: RM3,178 million (up 2.3% Y-Y); YTD 2025: RM6,388 million; EBIT: RM736 million (up 12.3% Y-Y); PAT: RM439 million (up 5.5% Y-Y); YTD PAT: RM827 million.

• EBITDA margin for Q2 2025 was 43.5%, up 1.5 percentage points sequentially.

• CAPEX for Q2 was RM351 million, with intensity at 11.0%, and capital commitments at RM770.6 million as at 30 June 2025.

• Basic EPS for Q2 2025: 3.74 sen; YTD: 7.01 sen.

• Net debt/EBITDA ratio stable at 2.1x; total loans and borrowings at RM13.28 billion.

Outlook and guidance

• On track to deliver 2025 full-year guidance, with service revenue expected to grow low single digits, EBIT to grow low to mid single digits, and CAPEX intensity targeted at 14%-16%.

• Progressing toward synergy target of MYR 700–800 million annualized savings post-2027 and RM8b NPV synergy target by 2027.

• Focus remains on postpaid, convergence, 5G adoption, digital value-added services, and operational excellence.