Digi.Com net earning decreased 34.3pc to RM763.49mil for FY22

KUALA LUMPUR: Digi.Com Bhd's net profit decreased 34.3 per cent to RM763.49 million in the full financial year ended December 31, 2022 (FY22) from the RM1.16 billion recorded in the same period in FY21.

In a filing to Bursa Malaysia today, the company said this was due to the additional depreciation and finance costs resulting from the harmonisation of accounting policies and estimates, a merger exercise, and the cukai makmur (prosperity tax).

This was the first time the company had combined its financial reporting since the completion of the merger.

Revenue increased 6.9 per cent to RM6.77 billion in the same period from RM6.34 billion.

Meanwhile, the company has declared a fourth interim dividend of 3.1 sen per share for FY22, which will be paid on March 29, 2023.

For the fourth quarter (Q4), Digi's net profit plunged 85.9 per cent to RM42.82 million from RM304.55 million, while revenue improved 37.8 per cent to RM2.18 billion from RM1.58 billion.

In a separate statement, Digi registered across-the-board improvements in its postpaid, prepaid, fibre and enterprise segments, driven by its high-speed Internet products bundling, catering to the ever-growing internet demand from its customers.

Monthly average data per user for Digi's customers reached 24.5Gb, up 18.4 per cent year-on-year, while Celcom's customers registered 28Gb usage, up 15 per cent year-on-year. 

CelcomDigi chief executive officer Datuk Idham Nawawi expects continued growth in data usage, primarily in 4G services, supported by the initial adoption of 5G technology and increasing use of digital services and platforms.

"Given the challenging macroeconomic outlook, we will draw on our combined strength to position ourselves for the future, with an immediate focus on strengthening the core and new revenue growth areas while delivering quality Internet experience to customers," he said.

The company will seek shareholders' approval to change its name to CelcomDigi Bhd at its extraordinary general meeting (EGM) later today.

If approved, the company said a formal filing on the outcome of the EGM would be made to Bursa Malaysia this evening.

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