NetLink NBN Trust posts 5.9% rise in net profit for nine months ended Dec 2020

NETLINK NBN Trust's net profit was S$69.5 million for the nine months ended Dec 31, 2020, up 5.9 per cent from S$65.6 million in the corresponding period of the previous year.

NetLink NBN Management reported on Wednesday night that earnings before interest, taxes, depreciation and amortisation (Ebitda) improved 3.6 per cent to S$209.9 million from S$202.6 million a year ago. This included government relief grants and lower operation and maintenance costs.

Revenue edged down to S$276.3 million from S$277.8 million. Installation revenue fell by S$5 million, but was offset by higher residential, non-building address point (NBAP) and segment connections revenue.

Net cash from operating activities was S$202.9 million, or about S$11.8 million more than in the corresponding period of the previous year.

The number of residential connections stood at 1,443,032 as at Dec 31, 2020, up from 1,421,173 connections at the close of 2019.

Units of NetLink NBN Trust ended at S$0.94 on Wednesday, down 0.5 cent or 0.53 per cent.