Maxis reports US$105m PAT in Q1 2026 with enterprise revenue up 5.3% YoY

• PAT sees 12.4% increase YoY, EBITDA of RM1.1bil, a 4.2% increase YoY
• Service Revenue of RM2.24bil, a 3.3% increase YoY, interim dividend of 4 sen per share

Maxis Bhd (Maxis), on 15 May, reported robust performance for the first quarter ended 31 March 2026, with Profit After Tax (PAT) increasing 12.4% year-on-year (YoY) to US$104.84 million (RM417 million). The results were underpinned by steady Service Revenue growth of 3.3% YoY to US$560 million (RM2.24 billion) and Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) growth of 4.2% YoY to RM1.10 billion.

[RM1 = US$0.25]

Maxis recorded higher Operating Free Cash Flow of RM983 million, supported by strong working capital management. CAPEX stood at RM142 million with investments in its integrated network infrastructure, including fibre expansion and mobile network capacity upgrades.

The quarter’s performance reflects continued momentum, with growth across the consumer and enterprise businesses.

Goh Seow Eng (pic), COE of Maxis, commented: “Our disciplined approach continues to yield positive outcomes, translating steady revenue growth into accelerated profitability. In recognition of this strong performance, the Board declared a dividend of 4 sen per share, reflecting our continued focus on maintaining a stable dividend payout.”

He added: “Building on this encouraging start to FY2026, we maintain our full-year guidance of low single-digit growth in Service Revenue and EBITDA, with CAPEX intensity between 10% and 12%. Mindful of macroeconomic volatility, we are actively optimising our supply chain and operations to mitigate external headwinds.”

Its Q1 performance by segment saw the following highlights:

• Consumer Mobile: Service revenue increased by 3.5% YoY to RM1.57 billion, driven by targeted customer acquisition and relevant offerings for different segments. Total mobile subscribers grew by 1.6% YoY to 9.93 million, led by year-on-year growth in postpaid subscribers.
• Consumer Home: Subscriptions rose 2.5% YoY to 807,000, though service revenue saw a slight decline of 1.2% to RM251 million due to heightened price competition.
• Enterprise Business: Service revenue rose 5.3% YoY to RM419 million, driven by strong performance in Fixed & Solutions, particularly in IoT and fixed network solutions.

During the quarter, Maxis notched a significant corporate service win with its appointment as the Single Preferred Infrastructure Provider and Telecommunications Partner for the East Coast Rail Link (ECRL) project for 10 years. Malaysia Rail Link Sdn Bhd is the developer with China Communications Construction Company Ltd as main contractor. 

To enhance customer security it also deployed an AI-powered network firewall to strengthen defences against digital fraud and scams.