Singtel Q1 earnings fall 24.2% on 'intense' competition, travel restrictions

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.Singtel Q1 earnings fall 24.2% on 'intense' competition, travel restrictions

These factors, together with"intense" price competition across markets and declines in carriage revenues, led to the falls in Ebitda and group revenue.

Operating revenue in the group's Singapore consumer segment fell 21.6 per cent to S$406 million with the government's"circuit-breaker" measures in April and May. A sharp fall in roaming and lower prepaid usage led to a decrease in mobile service revenue. Ebitda fell 13.9 per cent after including S$17 million of Jobs Support Scheme credits.

The group's Australia consumer segment's operating revenue fell 13.3 per cent to S$1.6 billion. This came as mobile service revenue declined, due to lower roaming, late payment fee waivers and credits to frontline healthcare workers. Higher SIM-only customer mix and continuing price competition were also factors for the drop in mobile service revenue.

Singtel's enterprise business saw operating revenue dip 4.5 per cent to S$1.38 billion due to continued declines in carriage services and weak business sentiment. Operating revenue for the telco's group digital life segment nearly halved to S$153 million from S$301 million a year ago, after Amobee's revenue declined and the cessation of HOOQ's business.For daily updates on weekdays and specially selected content for the weekend. Subscribe to

 

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