Telekom Malaysia (TM) Q4 2024 earnings summary

Executive summary

• FY2024 revenue reached RM11,712.4 million, up 0.2% year-over-year, driven by Internet, multimedia, and education segments, reflecting resilience amid competition.

• EBIT rose 11.3% YoY to RM2,325.1 million, surpassing guidance due to higher yield products, improved efficiency, and lower depreciation.

• PATAMI increased 7.8% YoY to RM2,016.9 million, aided by improved operating profits and one-off tax credits.

• Fixed broadband subscribers grew 1.5% YoY to 3.179 million, reinforcing leadership in converged services.

• Total dividend payout for FY2024 was 31.0 sen per share, amounting to RM1,189.7 million, including interim and special dividends.

Financial highlights

• Revenue increased 0.2% YoY to RM11,712.4 million; EBIT up 11.3% YoY to RM2,325.1 million.

• PATAMI rose 7.8% YoY to RM2,016.9 million; EBITDA improved 7.8% YoY.

• Free cash flow reached RM2,204.9 million, up from RM1,918.9 million in FY2023.

• CAPEX/revenue ratio was 13.6%, with total CAPEX at RM1,589 million.

• Basic EPS was 52.6 sen; net assets per share at 263.2 sen.

Outlook and guidance

• 2025 revenue expected to grow at a low single-digit rate.

• EBIT projected to remain at a similar level to 2024; CAPEX/revenue guidance set at 14–16% for 2025.

• Positive outlook underpinned by digital transformation, network expansion, and 5G initiatives.