As a result of active capital management efforts, Singtel has generated over $5 billion of cash from free cash flow and capital recycled for a second successive year. This includes more than $2.8 billion unlocked mainly from divesting a 3.3% stake in regional associate Airtel, strengthening Singtel’s balance sheet and allowing it to deliver better returns to shareholders.
Singapore Telecommunications (Singtel) on June 27 released its FY2023 ended March annual and sustainability report. Titled Our Purpose-Driven Journey, the report’s theme reflects the sustained progress that the group has achieved in the second year of its strategic reset to accelerate growth in the 5G era, driven by its purpose to empower every generation.
Singtel has made strides in its strategic priorities as it transforms to become a more relevant and socially impactful group. It built on its 5G leadership, differentiated product offerings and roaming recovery to reinvigorate and drive a 15% Ebit increase in its core businesses. Its growth engines – NCS, data centre and digital banking businesses – have grown in scale.
