[TELEKOM MALAYSIA BHD，当前充满挑战的市场格局]
由于语音，数据和其他电信相关服务的下降，马电讯营收由去年同期的29.646亿令吉减少了3.9％（1.166亿令吉）至28亿4800万令吉。这导致财务成本前营业利润下降35.2％（RM1.052亿），从2017年第一季度的RM2.991亿降至RM1.939亿。尽管本季度马电讯借款的外汇收益较上年同期有所增加，但税后和非控股权益集团（PATAMI）的利润从RM2.304亿降至RM1.571亿，下降31.8％（RM7330万）。
由于较高的平均投入资本（AIC）和较低的加权平均资本成本（WACC），经营费略低，但由于税后净营业利润（NOPLAT）较低，马电讯在2018年第一季度录得较高的经济损失。 AIC较高是由于较高的物业，厂房及设备，贸易及其他应收款项及其他应收款项。较低的权益成本导致WACC较低。收入下降和成本下降导致利息和税前利润下降（EBIT）并相应减少NOPLAT。
由于所有服务的收入下降，本季度马电讯营收下降11.0％（RM3亿5190万令吉）至28亿4800万令吉，而2017年第四季则录得31亿9990万令吉。与收入相一致，财务成本前的营业利润从上一季度的记录2.843亿令吉降至1.939亿令吉。这导致马电讯PATAMI从前一季度的2.77亿令吉减少43.3％（RM1.199亿），达到RM1.571亿。
前景：
鉴于当前充满挑战的市场格局，他们已经将马电讯范围内的举措列为优先事项，以便更加专注于提供更好的业绩。
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James Ng
Group revenue decreased by 3.9% (RM116.6 million) to RM2,848.0 million from RM2,964.6 million in the same quarter last year due to decline in voice, data and other telecommunication-related services. This led to 35.2% (RM105.2 million) decrease in operating profit before finance cost from RM299.1 million in the 1st quarter of 2017 to RM193.9 million. Group profit after tax and non-controlling interests (PATAMI) decreased by 31.8% (RM73.3 million) from RM230.4 million to RM157.1 million despite higher foreign exchange gain on the Group’s borrowings in the current quarter compared to corresponding quarter of 2017.
TM Group recorded higher Economic Loss during first quarter 2018 due to lower Net Operating Profit after Tax (NOPLAT) despite slightly lower economic charge attributed to higher Average Invested Capital (AIC) and lower Weighted Average Cost of Capital (WACC). The higher AIC was due to higher property, plant and equipment, trade and other receivables and other non-current receivables. Lower cost of equity led to lower WACC. Lower revenue and decrease in cost led to lower Earnings before Interest & Taxes (EBIT) and correspondingly reduced NOPLAT.
Current quarter Group revenue decreased by 11.0% (RM351.9 million) to RM2,848.0 million as compared to RM3,199.9 million recorded in the 4th quarter of 2017 due to lower revenue from all services. In line with revenue, operating profit before finance cost decreased to RM193.9 million from RM284.3 million recorded in the preceding quarter. This led to a 43.3% (RM119.9 million) decrease in Group PATAMI from RM277.0 million in the preceding quarter to RM157.1 million.
Prospects:
They have prioritised Groupwide initiatives to be more focused in delivering results faster in light of the current challenging market landscape.
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James Ng
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