Excluding the one-off expense, Netlink's FY2024 ebitda and net profit would have formed around 98% of UOBKH’s full-year forecasts — within the analysts’ expectations.
Analysts at UOB Kay Hian (UOBKH), Maybank Securities and DBS Group Research are keeping “buy” on Netlink NBN Trust despite its lower-than-expected FY2024 ended March results.
UOBKH Chong Lee Len and Llelleythan Tan Yi Rong note that while higher connections drove Netlink’s revenue higher, the soft FY2024 ebitda and net profit were due to an $8.8 million one-off writeoff of decommissioned network assets in 4QFY2024 as well as higher finance costs, respectively.
