Maxis (MAXIS) Q1 2025 earnings summary

Executive summary

• Achieved steady operational progress in Q1 2025, focusing on consumer bundling, enterprise growth, and infrastructure expansion, with revenue at RM2,608 million, up 0.2% YoY, driven by higher device sales.

• Profit after tax increased 5.1% YoY to RM371 million, with EBITDA up 1.1% to RM1,055 million.

• Operating free cash flow rose to RM883 million, reflecting improved cash generation.

• Launched new offerings including Maxis Home Solar and enhanced device care, and advanced digitalisation initiatives.

• Maintained high network reliability and continued cost efficiency efforts.

Financial highlights

• Service revenue was RM2,171 million, down 0.9% YoY, with underlying service revenue stable YoY; EBITDA margin on service revenue improved to 48.6% from 47.6% a year ago.

• EBIT increased 2.7% YoY to RM611 million.

• Basic and diluted EPS both rose to 4.7 sen from 4.5 sen in Q1 2024.

• Capex was RM86 million, down from RM106 million in Q1 2024.

• Dividend declared at 4 sen per share.

Outlook and guidance

• FY2025 guidance targets low single-digit growth in service revenue, flat to low single-digit EBITDA growth, and Capex below RM1 billion.

• Focus areas include bundling, enterprise growth, infrastructure, digitalisation, and operational excellence.