XL passes Celcom as Axiata's biggest earner

Nicole McCormick
31 May 2010

Indonesian cellular outfit XL has become the Axiata’s biggest contributor to the bottom-line, overtaking traditional cash cow Celcom as the main ebitda earner.

XL, 68.5%-owned by Axiata, contributed 46% of the company’s ebitda, more than Malaysian operator Celcom’s 43% contribution.

XL’s revenue and ebitda increased 42% and 92% year on year respectively, benefiting from cost controls and strong take-up of its new voice-SMS-data bundled offers.

“We’ve managed to grow our revenue three fold in the past four years with a revenue market share of 18% currently, closing the gap with Indosat,” XL president director Hasnul Suhaimi toldthe Star.

Malaysian-based Axiata reported a 52% yearly increase in ebitda to RM1.68 billion ($515.34 million), on 31% higher revenue of RM3.81 billion.

Net profit jumped from RM63.9 million to RM921 million, helped by a RM307.3 million net gain from its sale of a 20% stake in XL and RM173 million gain following the merger of Spice and Idea in India.

Excluding these and forex gains, net profit still increased by more than 100%.

Axiata’s pan-Asian mobile subscriber base grew 37% to 130 million, with businesses outside Malaysia contributing 56% of revenue compared with 49% a year ago.

In Malaysia, Celcom delivered a 15% revenue growth and a 16% ebitda growth.

Celcom is currently the market leader in mobile broadband, with 635,000 subs, up from 306,000 in Q1 last year.

Related content

No Comments Yet! Be the first to share what you think!