Celcomdigi (CDB) Q2 2025 earnings summary

Executive summary

• Achieved strong Q2 2025 earnings with total revenue of RM3,178 million, up 2.3% year-over-year, driven by core segment growth, high-value subscribers, and improved profitability through disciplined cost management and merger synergies.

• Profit after tax for Q2 2025 was RM439 million, a 5.5% increase year-over-year, with EBIT up 12.3% to RM736 million and EBITDA margin at 43.5%.

• Subscriber base grew to 20.4 million, with Home & Fibre subscribers up 15% and Postpaid subscribers up by 92k sequentially.

• Integration and transformation initiatives across network, IT, and retail are progressing as planned, delivering synergies and improved customer experience.

• Declared a second interim dividend of 3.8 sen per share, the highest since the merger, reflecting a strong commitment to shareholders.

Financial highlights

• Q2 2025 revenue was RM3,178 million (Q2 2024: RM3,106 million); YTD 2025: RM6,388 million (YTD 2024: RM6,277 million).

• EBIT for Q2 2025 was RM736 million, up 12.3% year-over-year; PAT for Q2 2025 was RM439 million, up 5.5% year-over-year; YTD EBIT up 16.5%.

• EBITDA margin for Q2 2025 was 43.5%, up 1.5 percentage points sequentially.

• Basic EPS for Q2 2025: 3.74 sen (Q2 2024: 3.46 sen); YTD: 7.01 sen (YTD 2024: 6.67 sen).

• CAPEX for Q2 was RM351 million, with CAPEX intensity at 11.0%.

Outlook and guidance

• On track to deliver full-year 2025 guidance, with service revenue expected to grow low single digits, EBIT to grow low to mid single digits, and CAPEX intensity targeted at 14%-16%.

• Targeting annualised cost savings of RM700–800 million post-2027 from integration initiatives.

• Focus remains on postpaid, convergence, Home & Fibre, digital value-added services, 5G adoption, and operational excellence.

• 5G transition to Dual Wholesale Network model underway, with continued investment and collaboration with DNB.