This strategy has allowed StarHub to stabilise and improve its ARPU across its key business segments. The Consumer business continues to leverage its Infinity Play proposition comprising a growing portfolio of products and services across six verticals for differentiation, service penetration and to drive greater consumption amongst customers. The Group reiterates its FY2023 guidance as it continues to execute on its DARE+ growth and transformation programme. Capex Commitment for 1Q2023 was 3.1% (including investments), lower than the guided range of between 13% and 15% of Total Revenue. Similarly, the 22.4% Service EBITDA margin recorded in 1Q2023 was higher than the “approximately 20%” guidance. Enterprise growth was lifted by an 8.3% growth in Network Solutions, driven by higher Data & Internet contributions (partly due to the consolidation of MyRepublic Broadband) and more project completions for the Managed Services segment and a 3.6% growth in Cybersecurity Services offset by a 4.0% decline in Regional ICT Services revenue in the absence of a major project delivered in 1Q2022.Ĭomparing against a full-year guidance for FY2023 released in February 2023, the 1Q2023 Service Revenue growth of 11% exceeded the guided 8% to 10% YoY growth range. The topline growth was backed by healthy operating metrics where ARPU grew YoY across most segments despite sustained intense market competition. Excluding the consolidation of MyRepublic Broadband, 1Q2023 Total Revenue and Service Revenue still grew 5.2% and 6.8% YoY, respectively. Service Revenue grew 11.0% to $461.6 million in 1Q2023 compared to $416.0 million a year ago, lifted by a 13.5% segment revenue growth in Mobile 20.4% for Broadband 21.0% for Entertainment and 3.9% for Enterprise. We are on track with our DARE+ transformation, reiterating our operational and financial goals and intend to accelerate into FY2023 to harvest DARE+ benefits from FY2024 and onward.” We continue to deliver new digital and cloud-enabled products and platforms, strengthening our Infinity Play and All-in-One App proposition for consumers as well as new Enterprise solutions converging the 3C’s to deliver smart, safe and sustainable solutions for Singapore and beyond. This marks a 26% year-on-year (“YoY”) increase from $29.7 million in the equivalent quarter a year ago (“1Q2022”), due mainly to growth registered across all segments, contributing to higher profit from operations achieved.Ĭommenting on the results, StarHub’s Chief Executive, Nikhil Eapen, said, “Our 1Q2023 performance marks a strong start to the year, running ahead of our FY2023 guidance. Singapore, – StarHub reported today net profit attributable to shareholders (“NPAT”) of $37.5 million for the three-month period ended 31 March 2023 (“1Q2023”).
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