Singapore Telecommunications (Z74) H2 2026 earnings summary

Executive summary

• Achieved strong EBIT growth and sustained value realization, with underlying NPAT up 21% year-over-year on a constant currency basis.

• Record FY ordinary dividend of 18.5 cents per share, up 9%, with active capital management and asset recycling proceeds of S$3.9B.

• ROIC target met at 11.1% for FY26, up from 9.1% in FY24.

Financial highlights

• Operating revenue stable at S$14.3B, up 2% year-over-year.

• EBITDA at S$3.8B, up 2%; underlying net profit at S$2.8B, up 21% year-over-year.

• Net profit surged to S$5.6B, up 40% year-over-year.

• Regional associates' PAT at S$2.0B, up 25% excluding Intouch's prior contribution.

• Final dividend of 10.3 cents/share, total FY26 dividend 18.5 cents/share.

Outlook and guidance

• FY27 OpCo EBIT growth expected between low and mid-single digits.

• Regional associates' dividend guidance at S$1.1B, with an additional S$0.7B in special dividends.

• FY27 capex projected at S$3.0B (core: S$1.8B, growth: S$1.2B).