Maxis (MAXIS) Q3 2025 earnings summary

Executive summary

• Service revenue for Q3 2025 was RM2,241 million, up 1.7% quarter-over-quarter and 1.3% year-over-year, reflecting steady growth across consumer and enterprise segments.

• Total revenue for Q3 2025 reached RM2,589 million, up 0.5% year-over-year and 1.1% sequentially.

• EBITDA for Q3 2025 rose to RM1,102 million, a 0.7% increase QoQ and 5.2% YoY, with a margin of 49.2% on service revenue, driven by operational efficiencies.

• Profit after tax climbed to RM412 million, up 3.5% QoQ and 12.6% YoY, with net profit margin improving to 15.2% YTD from 13.8% last year.

• Dividend declared at 4 sen per share for Q3 2025, bringing YTD dividends to 12 sen per share.

Financial highlights

• Operating free cash flow for Q3 2025 was RM1,112 million, up 47.7% year-over-year, supported by effective working capital management.

• Capex for Q3 2025 was RM224 million, focusing on mobile network upgrades and fibre expansion, up 60.0% YoY.

• EBIT for Q3 2025 was RM651 million, up 9.0% year-over-year.

• Consumer business revenue was RM1,823 million, up 0.3% YoY; enterprise business revenue grew 5.6% to RM418 million.

• Dividend payments for the period totaled RM1,018 million.

Outlook and guidance

• FY2025 guidance targets low single-digit service revenue growth, mid single-digit EBITDA growth, and capex around RM1 billion, emphasizing network infrastructure investments.

• Focus areas include product bundling, enterprise expansion, digitalisation, and operational excellence.