AXIATA (6888) 亞通 - [AXIATA GROUP BERHAD,受到外汇折算的不利影响,加上印度联营公司的持续亏损] - James的股票投资James Share Investing


 [AXIATA GROUP BERHAD,受到外汇折算的不利影响,加上印度联营公司的持续亏损]

YoY:
亚通收入由2017年第一季度录得的58.81亿令吉减少2.3%至57.482亿令吉,主要是由于(对比2017年同期)所有主要营运公司(除了马来西亚的个人手机经营实体外)受到马币升值所带来的不利外汇转换影响。由于收入减少,亚通的EBITDA环比下降5.5%。

由于亚通于印度的投资摊销亏损3.576亿令吉,亚通亦因此亏损9,440万令吉而PAT下跌超过100%。由于在印度继续面临激烈的市场竞争,联营公司和合资公司的业绩分别下跌超过100%,创下8,610万令吉亏损,而2017年第一季则亏损3,050万令吉。因此,与2017年第一季度录得的2.39亿令吉盈利相比,PATAMI下跌超过100%至亏损1.474亿令吉。

马来西亚:
EBITDA下降13.9%至4.566亿令吉,主要是由于对采用MFRS15的影响。尽管如此,由于联营公司​​业绩和折旧和摊销节余的较高份额,PAT在前一年录得的1.945亿令吉减少了10.0%至1.75亿令吉。

印度尼西亚:
收入下降9.3%至15.899亿令吉,主要是由于SIM注册流程超过了本季度数据收入的增长。由于成本仍然受到控制,EBITDA下降4.6%至6.03亿令吉。然而,由于较低的EBITDA和较高的外汇损失,PAT在此期间下降了75.3%,达到360万令吉。

孟加拉国:
收入下降11.6%,主要是由于营销模式的变化和设备的收入确认。

斯里兰卡:
总收入增长1.3%,达到6.615亿令吉。

尼泊尔:
由于International Long Distance(“ILD”)收入下降,收入下降4.5%至5亿5020万令吉。由于收入减少,EBITDA下降11.1%。

柬埔寨:
由于持续激烈的价格战竞争,收入,EBITDA和PAT分别下降20.4%,26.6%和37.8%至2.53亿令吉,1.185亿令吉和5870万令吉。

马来西亚(基础设施):
由于外汇损失,PAT下降60.7%至2,490万令吉。

与前季度比较:
亚通收入由去年第四季录得的62.611亿令吉下跌8.2%至57亿4820万令吉,因此除马来西亚移动业务外,所有主要营运公司的表现均下跌。由于收入下降及营运成本上升,EBITDA下跌12.4%至20.364亿令吉。 PAT和PATAMI分别下跌逾100%至亏损9,440万令吉及1.474亿令吉,主要是由于其在印度的投资摊薄减少所致。

马来西亚:
由于采用MFRS 9和15,EBITDA减少23.3%至RM4.566亿。由于较低的EBITDA和上一季度来自出售联营公司的集团间一次性收益,因此PAT减少33.8%。

印度尼西亚:
收入从18.555亿令吉下降14.3%至15.899亿令吉,是由于市场上激烈的价格竞争和SIM卡注册流程的影响,移动收入下降导致收入减少。由于收入下降,EBITDA和PAT分别下降10.2%和91.6%至6.03亿令吉和360万令吉。

孟加拉国:
收入与上一季度相比下降18.5%,主要是由于营销模式和设备收入确认方法的变化。本季度的EBITDA由于成本下降而带来的较低收入下降了4.0%。由于财务费用和摊销费用上涨,本季度的PAT减少了100%以上。

斯里兰卡:
本季度收入轻微下降1.8%至6.615亿令吉,主要由于外汇转换影响。但是,由于外汇损失和折旧增加,PAT下跌16.7%至7190万令吉。

尼泊尔:
由于ILD收入下降,收入和EBITDA分别下降12.5%和16.8%至5亿5,020万令吉和3亿4260万令吉。与上一季度录得的1.883亿令吉相比,收入下降4.7%至1.794亿令吉,主要归因于外汇收益,税项及折旧费用减少。

柬埔寨:
收入下降8.7%至2.53亿令吉,而上一季度则为2.771亿令吉,受市场持续激烈的价格竞争影响。结果,EBITDA下降了11.0%。

马来西亚(基建):
收入及EBITDA分别下降12.4%及7.0%至3亿5020万令吉及1.568亿令吉。由于外汇换算亏损和融资成本上升,PAT随后从Q4’17的RM3190万下降了22.0%至RM2490万。

亚通的1Q18业绩受到所有运营公司外汇折算的不利影响,加上印度联营公司的持续亏损,和新开始投资的业务。马来西亚业务保持稳定,而印度尼西亚的业务受到积极竞争的影响,以及预付SIM卡注册过程中面临的挑战。在柬埔寨的业务也受到价格压力的影响。
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我希望将我的策略分享给读者,希望他们在阅读后能够表现出色。我正在使用基本面分析(Fundamental Analysis):

预计公司每年的增长率必须> 14%

我想说服读者学习基本面分析FA以便能从股市赚钱。

我为想从马来西亚股票市场赚钱的读者提供STOCK PICK服务。想订阅我的邮件以从股票市场获取良好回报的人,可以通过 jamesngshare@gmail.com 或我的FB页面 https://web.facebook.com/jamesshareinvest/ 与我联系

最终决定永远是你的,谢谢。

James Ng
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YoY:
Group revenue decreased by 2.3% to RM5,748.2 million from RM5,881.0 million recorded in Q1’17 mainly due to unfavourable forex translation impact arising from strengthened MYR as compared to the same period in 2017 from all its major operating companies except for the mobile operating entity in Malaysia. EBITDA for the Group dropped 5.5% quarter-on-quarter as a result of lower revenue.

The Group also saw PAT decline by more than 100% on the back of RM94.4 million loss for the period principally attributed to loss on dilution of the Group’s investment in India of RM357.6 million. Share of results from associates and joint ventures were lower by over 100% to record a loss of RM86.1 million as compared to a loss of RM30.5 million in Q1’17 as the India associate continues to face intense market aggression. Consequently, PATAMI decreased by more than 100% to a loss of RM147.4 million compared to profit of RM239.0 million recorded in Q1’17.

Malaysia:
EBITDA decreased 13.9% to RM456.6 million mainly contributed by the impact on the adoption of MFRS15. Despite that, PAT decreased by only 10.0% to RM175.0 million from RM194.5 million recorded in the preceding year corresponding quarter cushioned by higher share of results from associate and savings in depreciation and amortisation.

Indonesia:
Revenue declined 9.3% to RM1,589.9 million mainly as a result of SIM registration process outpace the increase in data revenue in the current quarter. EBITDA decreased by 4.6% to RM603.0 million as costs remain controlled. PAT however, decreased 75.3% for the period to record at RM3.6 million flowing from lower EBITDA and higher forex loss.

Bangladesh:
Revenue declined by 11.6% mainly due to change in marketing model and revenue recognition of device.

Sri Lanka:
Total revenue grew 1.3% to record at RM661.5 million.

Nepal:
Recorded a 4.5% drop in revenue growth to RM550.2 million as a result off the decline in revenue from International Long Distance (“ILD”). EBITDA decreased by 11.1% on the back of lower revenue recorded.

Cambodia:
Revenue, EBITDA and PAT registered a decrease of 20.4%, 26.6% and 37.8% to RM253.0 million, RM118.5 million and RM58.7 million respectively due to continuing intense price war competition.

Malaysia (Infrastructure) :
PAT decreased by 60.7% to RM24.9 million due to forex loss.

Comparison with Preceding Quarter:
Group revenue decreased by 8.2% to RM5,748.2 million from RM6,261.1 million recorded in Q4’17 as a result the drop in performance from all major operating companies other than the Malaysia mobile operation. EBITDA declined by 12.4% to RM2,036.4 million attributable to lower revenue and higher operational costs. PAT and PATAMI declined by more than 100% to a loss position of RM94.4 million and RM147.4 million respectively mainly as a result of the loss in dilution of its investment in India.

Malaysia:
EBITDA decreased by 23.3% to RM456.6 million due to the adoption of MFRS 9 and 15. PAT decreased by 33.8% as a result of lower EBITDA and prior quarter one-off intergroup gain from disposal of associates.

Indonesia:
Revenue decreased by 14.3% to RM1,589.9 million as compared to preceding quarter of RM1,855.5 million from lower mobile revenue impacted by intense price competition in the market and SIM registration process. EBITDA and PAT declined by 10.2% and 91.6% to RM603.0 million and RM3.6 million respectively due to lower revenue.

Bangladesh:
Revenue declined by 18.5% compared to preceding quarter mainly due to change in marketing model and revenue recognition methodology of device. EBITDA for the quarter decreased by 4.0% from lower revenue cushioned by the decrease in costs. PAT for the quarter declined by more than 100% on the back of higher finance costs and amortisation charges.

Sri Lanka:
Revenue for the current quarter decreased marginally by 1.8% to RM661.5 million mainly due to forex translation impact. PAT however, declined by 16.7% to RM71.9 million due to higher forex loss and depreciation.

Nepal:
Revenue and EBITDA declined 12.5% and 16.8% to RM550.2 million and RM342.6 million respectively as a result of the decline in ILD revenue. PAT decreased relatively lower compared to the revenue drop by 4.7% to RM179.4 million from RM188.3 million recorded in the preceding quarter attributed mainly to forex gain, lower tax and depreciation charges.

Cambodia:
Revenue declined by 8.7% to RM253.0 million as compared to the preceding quarter of RM277.1 million impacted by continued intense price competition in the market. As a result, EBITDA decreased by 11.0%.

Malaysia (Infrastructure):
Revenue and EBITDA decreased by 12.4% and 7.0% to RM350.2 million and RM156.8 million respectively. PAT subsequently fell by 22.0% to RM24.9 million from RM31.9 million recorded in Q4’17 as a result of higher forex translation loss and finance costs.

Group’s 1Q18 results was adversely affected by unfavourable forex translation for all operating companies (“OpCo”), compounded by continued losses from associate in India and start up investments in new businesses. The Malaysia operation remains stable, whilst operations in Indonesia were impacted by aggressive competition, and challenges faced during the prepaid SIM registration process. Operations in Cambodia was also impacted by price pressures.
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the forecasted growth of a company must > 14% per year

I wish to convince readers to learn FA in order to make money from stock market.

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Final decision is always yours, thank you.

James Ng

https://web.facebook.com/jamesshareinvest/