Singtel has reported earnings of $5.61 billion, up 40% y-o-y, thanks to to exceptional gains of $2.84 billion and also operating improvements.
Underlying net profit, which excludes one-offs, was up 12% to $2.77 billion, driven mainly by regional associates Airtel and AIS and operating companies NCS, Digital InfraCo and Optus.
According to Singtel, underlying net profit would have risen 21%, excluding foreign currency impact and Intouch, whose contributions ceased after its amalgamation with Gulf Energy Development.
Operating revenue was stable at S$14.26 billion while both EBITDA and operating company EBIT rose 2% and 9% respectively due to the robust performances of NCS, Digital InfraCo and Optus.
The company plans to pay a final dividend of 10.3 cents, which will bring the total for FY2026 to 18.5 cents.
In contrast, Singtel paid a total of 17 cents for the preceding FY2025.
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"We delivered a strong set of results for the second year of our Singtel28 growth plan, which underscores the advantages of our diversified portfolio," says group CEO Yuen Kuan Moon.
Singtel expects to leverage on the scale of STT GDC, a data centre business it is acquiring together with KKR, to help drive growth down the road.
However, citing the "challenging" macro and market environment given its diversified geographical and business profile and strong fundamentals, Singtel has tweaked its EBIT growth expectations to between low and mid-single digits.
In a separate announcement, Singtel says it is "open to" working with potential Australian partners for its subsidiary Optus.
"The Singtel Group’s ongoing approach to its portfolio of operating companies and associates involves regularly evaluating opportunities to enhance the Group’s businesses and performance," says Singtel.
"Singtel contemplates a like-minded long-term local partner owning a meaningful minority stake in Optus," the company adds.
Singtel shares closed at $5.02 on May 20, up 0.8% for the day and up 9.61% year to date.
