Dialog delivers strong FY 2024 Performance
View(s):Dialog Axiata PLC recently announced its consolidated financial results for the year ending December 2024 with the group delivering a strong performance across Mobile, Fixed Line, Digital Pay Television and Teleinfrastructure businesses recording a positive core revenue growth of 10 per cent Year to Date (YTD).
Group headline revenue reached Rs.171.2 billion, however down 9 per cent mainly resulting from a conscious scaling down of low margin international wholesale business amounting to Rs.24.3 billion, the company said in a media release.
The Q4 2024 revenue was recorded at Rs.45.8 billion, up 7 per cent Quarter-on-Quarter (QoQ) and 6 per cent Year-on-Year (YoY). The group Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) reached Rs.66.3 billion, up 8 per cent YTD supported by Core Revenue performance and Cost Rescaling Initiatives. On a QoQ basis group EBITDA demonstrated a strong growth to record at Rs.21.2 billion up 18 per cent QoQ with an EBITDA margin of 46.3 per cent as Cost Rescaling Initiatives yielded positive results.
Group Net Profit After Tax (NPAT) reached Rs.12.4 billion for FY 2024, down 38 per cent YTD mainly resulting from significant forex gains recorded in prior year. Normalised for forex impact, NPAT decline was limited to 12 per cent YTD and recorded at Rs.8.7 billion, due to dilution from Airtel (Rs.2.2 billion) and higher taxation (Rs.1.1billion). On a QoQ basis NPAT grew 51 per cent to reach Rs.6.8 billion resulting from strong EBITDA performance and lower finance cost.
Dialog group continued to be a significant contributor to state revenues, remitting a total of Rs.47.3 billion to the Government of Sri Lanka (GoSL) during FY 2024. Total remittances included Direct Taxes and Levies amounting to Rs.10.6 billion and Rs.36.7 billion in Consumption Taxes collected on behalf of the GoSL.
During FY 2024 Dialog completed the acquisition and amalgamation with Bharti Airtel Lanka (Pvt) Ltd.
This was a significant step forward in advancing Sri Lanka’s digital infrastructure, underscoring the combined strength and commitment of the Axiata and Bharti groups in delivering enhanced connectivity and more robust digital services across the country while reducing the carbon footprint through consolidation of duplicated network infrastructure.
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