Dialog Axiata PLC released its consolidated financial results for the year ended December 31, 2019 last week. The results included those of Dialog Axiata PLC and of the Dialog Axiata Group.
The Group recorded a consolidated revenue of Rs.116.8 bn. The Group revenue resumed growth trajectory on a Quarter-on-Quarter (QoQ) basis to record at Rs. 29.7 bn up 2% and 4% Year-on-Year (YoY) for Q4, 2019.
On the back of Revenue performance Group Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) grew 7% YTD to reach Rs. 46.7 bn for FY 2019, albeit declining 2% on QoQ basis to reach Rs. 11.7 bn for Q4 2019. The adoption of SLFRS 16, ‘Leases’ with effect from 1 January 2019, translated to an EBITDA uplift of Rs 2.6 bn.
The Group Net Profit After Tax (NPAT) demonstrated a growth of 44% YTD to record at Rs. 10.8 bn for FY 2019 underpinned by strong EBITDA performance and stable currency. On a QoQ and YoY basis NPAT increased 65% and >+100% to record at Rs. 2.4 bnt.
The Board of Directors of Dialog Axiata PLC resolved to propose for consideration by the shareholders of the company, a cash dividend to ordinary shareholders amounting to 53 cents (Rs. 0.53) per share totalling to Rs. 4.3 bn.
The said dividend, if approved by shareholders, would translate to a payout of 40% of consolidated Group NPAT for FY 2019 resulting in a Dividend Yield of 4.3% and a Total Shareholder Return (TSR) of 26.1%.
The dividend so proposed will be considered for approval by the shareholders at the Annual General Meeting (AGM) of the Company, the date pertaining to which would be notified in due course. On a QoQ basis revenue remained flat albeit declining 4% on a YoY basis to record Rs. 20.5 bn for Q4 2019. The Company EBITDA was recorded at Rs. 35.5 bn. The Company NPAT was recorded at Rs. 11.6 bn up 165% YTD.
NPAT reached Rs. 3.0 bn for Q4 2019 up 62% QoQ and over 100% YoY. Dialog Television (DTV), continued to consolidate its leadership position in the Digital Pay Television space with a subscriber growth of 25% YoY for the year ended December 31, 2019.
DTV Net Loss declined to Rs. 541 mn for FY 2019 relative to a Net Loss of Rs. 915 mn recorded in FY 2018. Dialog Broadband Networks (DBN) featuring the Group’s Fixed Telecommunications, Broadband and International Businesses recorded a revenue of Rs. 28.1 bn. DBN EBITDA recorded a decline of 23% YTD to reach Rs. 9.2 bn resulting from the one-off gain of Rs. 3.7 bn recognised in Q4 2018. The normalised EBITDA for DBN recorded a growth of 11% YTD. However, NPAT declined to Rs. 411 mn.