[MAXIS BHD:市场将保持竞争性,收入和EBITDA将分别下降中个位数或高个位数,基本资本支出将在RM10亿] - James的股票投资James Share Investing


 [MAXIS BHD:市场将保持竞争性,收入和EBITDA将分别下降中个位数或高个位数,基本资本支出将在RM10亿]

2Q18 vs 1Q18:
预付用户revenue generating subscribers(RGS)继续下降,尽管速度较慢。标准化EBITDA略微下跌1%至10亿700万令吉,标准化利润率为50%,而上一季度则为10.2亿令吉和51.5%。这是由于更高的营销成本和外汇损失。与上一季度的5.1亿令吉相比,明讯的正常化利润较低,为4.8亿令吉。本季度的资本支出几乎翻了一番,达到2.12亿令吉。这是由于网络容量资本支出。

2Q18 vs 2Q17:
由于Prepaid的下降,服务收入为20.13亿令吉,比Q217低2.7%。由于持续的SIM整合,从Prepaid迁移到Postpaid以及激烈的价格竞争,预付收入下降了13%,降至8.54亿令吉。本季度的正常化利润为4.80亿令吉(Q217:4.82亿令吉)。

YTD June 18 vs YTD June 17:
由于Prepaid的下降,收入为39.93亿令吉,下降3.7%。预付收入下降14.3%至17.03亿令吉(YTD17:19.88亿令吉)是由于持续的SIM整合,向Postpaid的迁移以及激烈的价格竞争,影响了订阅基数的下降。Normalised EBITDA和EBITDA margin分别为20.27亿令吉和50.8%(YTD17:20.31亿令吉和49%)。本年度的正常化利润较低,为9.9亿令吉(YTD17:9.93亿令吉)。

存款,现金和银行结余减少的原因是截至6月30日止6个月期间支付的前期频谱指配费。净debt-to-EBITDA从截至12月31日的1.63倍增加至6月30日的1.70倍。

前景:
预计市场将保持竞争性。考虑到逐步终止网络共享安排的影响,他们维持对12月31日结束的财年的指引,收入和EBITDA分别下降中个位数或高个位数,基本资本支出将在RM10亿。
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James Ng Stock Pick Performance:
Since Recommended Return:

1) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM0.85 in 1 month 9 day, total return is 18.9%

2) Gtronic (GLOBETRONICS TECHNOLOGY BHD), recommended on 8 Jul 18, initial price was RM2.17, rose to RM2.54 in 2 months 13 days, total return is 17.1%

3) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.89 in 2 month 20 days, total return is 11.9%

4) PMETAL (PRESS METAL ALUMINIUM HOLDINGS BHD), recommended on 26 Aug 18, initial price was RM4.78, rose to RM5.03 (dividend RM0.015) in 26 days, total return is 5.5%

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

【看懂年报和季报】课程
时间:11a.m. – 7p.m

日期:10月7日星期日
地点:Sri Petaling (KL)或Pusat Bandar Puchong(看哪个地区较多人)

日期:10月14日星期日
地点:George Town (Penang)

日期:10月21日星期日
地点:M Hotels (Kuching)

日期:10月28日星期日
地点:Johor Bahru

有兴趣的朋友,可以电邮或PM FB page联络我
email:jamesngshare@gmail.com
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最终决定永远是你的,谢谢。

James Ng
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[MAXIS BHD: market is expected to remain competitive, maintain guidance for the FY ending 31 Dec 18 with revenue and EBITDA to decline by mid-single digit and high single digit respectively and base capex to be around RM1b]

2Q18 vs 1Q18:
Prepaid revenue generating subscribers (RGS) continued to decline, albeit at a slower rate. Normalised EBITDA declined marginally by 1% to RM1007m with a 50% normalised margin, against RM1020m and 51.5% in the previous quarter. This was due to higher marketing costs and foreign exchange losses. The Group reported lower normalised profit of RM480m compared to RM510m in the preceding quarter. Capex for the current quarter almost doubled to RM212m. This was due to network capacity capex.

2Q18 vs 2Q17:
Service revenue of RM2013m was 2.7% lower than Q217, due to the decline in Prepaid. Prepaid revenue declinded 13% to RM854m, on the back of a lower subscription base which was impacted by the continued SIM consolidation, migration from Prepaid to Postpaid and intense price competition. Normalised profit for the quarter was RM480m (Q217: RM482m).

YTD June 18 vs YTD June 17:
Revenue was RM3993m which represents a 3.7% decline, due to the decline in Prepaid. Prepaid revenue declined by 14.3% to RM1703m (YTD17: RM1988m) was due to a lower subscription base which was impacted by the continued SIM consolidation, migration to Postpaid and intense price competition. Normalised EBITDA and EBITDA margin on revenue remained at RM2027m and 50.8% (YTD17: RM2031m and 49%) respectively. Normalised profit for the year was lower at RM990m (YTD17: 993m).

The reduction in deposits, cash and bank balances was due to the upfront spectrum assignment fee paid during the 6 months ended 30 Jun 18. This increased in net debt-to-EBITDA from 1.63x as at 31 Dec 17 to 1.70x as at 30 Jun 18.

Prospects:
Market is expected to remain competitive. In view of taking into account the impact from progressive termination of a network sharing arrangement, they maintain their guidance for the FY ending 31 Dec 18 with revenue and EBITDA to decline by mid-single digit and high single digit respectively and base capex to be around RM1b.
------------------------------------------------
James Ng Stock Pick Performance:
Since Recommended Return:

1) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM0.85 in 1 month 9 day, total return is 18.9%

2) Gtronic (GLOBETRONICS TECHNOLOGY BHD), recommended on 8 Jul 18, initial price was RM2.17, rose to RM2.54 in 2 months 13 days, total return is 17.1%

3) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.89 in 2 month 20 days, total return is 11.9%

4) PMETAL (PRESS METAL ALUMINIUM HOLDINGS BHD), recommended on 26 Aug 18, initial price was RM4.78, rose to RM5.03 (dividend RM0.015) in 26 days, total return is 5.5%

I wish to share my strategy to readers, hope that they can perform well after reading this. I am using Fundamental Analysis:

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.



I am providing STOCK PICK SERVICE for readers who want to make money from Malaysian stock market. Those who want to subscribe to my mailing list to achieve a good return from stock market, you can contact me at jamesngshare@gmail.com or PM me in my FB page https://web.facebook.com/jamesshareinvest/

In order to facilitate the query of the company and stock picking articles and videos I have written, an index has been produced. Everyone can find company and stock picking articles and videos from https://klse.i3investor.com/blogs/general/174563.jsp by date.

James的股票投资James Share Investing Blog: https://klse.i3investor.com/blogs/general/

James的股票投资James Share Investing Blog Index: https://klse.i3investor.com/blogs/general/blidx.jsp

Facebook Group: https://www.facebook.com/groups/jamesinvesting

If you want to join my WhatsApp group (there will be no James Ng's stock pick inside), please PM or email me your handphone number.

Final decision is always yours, thank you.

James Ng

https://klse.i3investor.com/blogs/general/175061.jsp