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Maxis Delivers Strong Operating Performance In Q1 2015

The positive momentum from the transformation initiatives in Maxis is now driving operational indicators upwards. The Company registered solid subscriber growth and enhanced data usage driven by winning value propositions and a high performing network in its first quarter of 2015.

For the first time since 2010, the Company bucked the trend of a traditionally slow first quarter to deliver a service revenue of RM2,127 million, up 1.6% from Q4 2014. The quarter also saw Maxis adding 328k new revenue generating subscriptions (RGS), bringing its total RGS base to 12 million.

With its network modernisation and LTE expansion delivering tangible improvements in customer experience and driving data usage, Maxis now has 9 million mobile Internet users and its blended smart-phone penetration stood at 57% this quarter.

Morten Lundal, Maxis Chief Executive Officer, said, “It’s a solid turnaround story for our prepaid segment. We now have four consecutive quarters of growth in revenues and subscribers. We are also seeing a positive transition in our postpaid segment. We had a revenue impact after we took steps to avoid any chance of bill shocks with Maxis, and we furthermore had seasonal roaming revenue in Q4 2014, so we’re comfortable with marginal net decline.  MaxisOne plan is doing well both for the customer and for Maxis. One thing that’s certain, Malaysians love data. We are seeing an average of 1.4GB monthly consumption by postpaid customers and 1GB by prepaid customers respectively. Our data traffic is projected to grow over five times in the next three years. So we will continue with a high investment level to deliver this capacity and give the best data experience to our customers.”

On the back of a higher revenue base, EBITDA of RM1,047 million and EBITDA margin of 48.7% for the period were higher than the previous quarter.  Profit for the period stood at RM455 million, higher than the RM419 million recorded in the preceding quarter, and this was primarily driven by higher EBITDA quarter-on-quarter. 

Maxis will continue with high capex for 2015 at above RM1.1 billion to complete its network modernisation, drive 4G LTE expansion, as well as to further improve capacity and quality. Maxis already leads the 4G LTE population coverage in the country, approaching 39% of the population and covering key market centres and state capitals.

The Company announced a first interim dividend of five sen per share.

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