Maxis closes strong year, posts solid 2017 results
Published on: Friday, February 09, 2018
Kuala Lumpur: Maxis Bhd's pre-tax profit rose to RM2.89 billion for the financial year ended Dec 31, 2017 from RM2.74 billion in the same period previously.In a filing to Bursa Malaysia on Thursday, the communications and Internet service provider announced its revenue increased to RM8.69 billion from RM8.61 billion in 2016.For the fourth quarter, Maxis posted a higher pre-tax profit of RM710 million compared with RM675 million in the same period in 2015, while revenue went down to RM2.15 billion from RM2.21 billion.
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In a statement on Thursday, Chief Executive Officer Morten Lundal said 2017 was a strong year with many proud highlights for Maxis as it gained further market share both in revenue and profits."We developed our superior 4G LTE network to be unparalleled in quality as the best and fastest data network in the country. Overall, our customers enjoy a combination of lots of quality data, attractive products and great connectivity."We are, most of all, proud to record the highest customer satisfaction we have ever seen and on track towards our ambition for full digitalisation of Maxis. All in all, a strong finish to a great year," he said.In 2017, Maxis said the group registered its highest profit after tax in four years, highest earnings before interest, taxes, depreciation and amortisation in five years, increased revenues in a declining market, and a clear industry-leading in 4G LTE network coverage.
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It said service revenue continued to grow positively in a declining market, up 0.8 per cent to RM8.53 billion from RM8.46 billion a year ago, supported by strong growth in postpaid and integrated services."Postpaid delivered year-on-year growth of 4.2 per cent with a revenue of RM4.12 billion compared to RM3.95 billion last year, mainly driven by growth in subscription base, with high and stable average revenue per user (ARPU).
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"Our flagship MaxisONE Plan has now surpassed two million subscribers, contributing a high monthly ARPU of RM117," Maxis said.Prepaid revenue declined by 3.7 per cent to RM3.85 billion against RM3.99 billion a year ago due to lower subscription base as a result of aggressive price competition, prepaid-to-postpaid migration and SIM consolidation in the market.Stay up-to-date by following Daily Express’s Telegram channel.
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