Singtel Raises Full-Year OpCo EBIT Growth Guidance After Strong First Half
Singtel raised full-year OpCo EBIT growth guidance from low-to-mid single digits to mid-to-high single digits. Underlying net profit rose 10% to S$1.49 billion, while free cash flow increased 56% to S$2.25 billion.
Singtel has increased its full-year OpCo EBIT growth guidance from low-to-mid single digits to mid-to-high single digits following a strong first-half performance. The company reported a 10% rise in underlying net profit to S$1.49 billion (US$1.16 billion), supported by growth across its NCS IT services subsidiary, Digital InfraCo unit, and Australian operator Optus, as well as higher profit contributions from regional associates Airtel and AIS. The group's financial position was bolstered by a 56% increase in free cash flow to S$2.25 billion and a credit rating upgrade to A+ from S&P Global Ratings.
Additionally, Singtel has achieved 75% of its S$9 billion mid-term capital recycling target under its Singtel28 plan, having unlocked S$6.8 billion to date.