Slides
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CELCOMDIGI BERHAD 4Q 2025 Earnings Call 11 February 2026 | Kuala Lumpur
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Disclaimer This presentation and the following discussion by CelcomDigi Berhad (“CelcomDigi”) may contain forward-looking statements related to financial trends for future periods, compared to the results for previous periods characterised by the use of words and phrases such as “might”, “forecast”, “anticipated”, “project”, “may”, “believe”, “predict”, “expect”, “continue”, “will”, “estimate”, “target” and other similar expressions. Forward-looking statements are based on management’s current views and assumptions including, but not limited to, prevailing economic and market conditions. It involves known and unknown risks, uncertainties and other factors which may cause actual performance, outcomes and results to differ materially from those expressed or implied in such forward-looking statements. Such forward-looking statements are not a guarantee of future performance. This presentation does not constitute an offer or invitation or any solicitation of any offer to subscribe for or purchase any securities and nothing contained herein shall form the basis of any contract or commitment whatsoever. No reliance may be placed for any purposes whatsoever on the information contained in the presentation or on its completeness, accuracy or fairness. None of CelcomDigi nor any of its shareholders, directors, officers or employees nor any other person accepts any liability whatsoever for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection therewith.
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Operational Updates Integration & Synergy Review 2026 Guidance Key Highlights Financial Review ALBERN MURTY DENNIS CHIA DATUK KAMAL KHALID
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4Q 2025 Highlights Improved Service Revenue Integration programme nearing completion Delivered 2025 guidance Dividend of 3.6 sen per share
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4Q 2025 Key Highlights Strong execution across growth, efficiency and strategic investments Strengthening Market Leadership Enhancing Customer Experience Driving Operational Excellence Investing for the Future • Service revenue up 3.8% Q-Q and 4.1% Y-Y • Good momentum in 4 of 5 key segments • ARPA improved 2.6% Q-Q and 7.6% Y-Y • Product portfolio refreshed, driving improved monetisation • >80% CSAT: Customers experienced higher service level • Modernised retail driving connected lifestyle • CelcomDigi app powering personalised and always-on service • FY2025: ~RM300mil gross savings (COGS/OPEX) • Achieved RM283mil CAPEX savings through sourcing • Modernised network: Continuous cost optimisation • Spectrum award: 1800MHz & 2600MHz • Modernised IT: Distribution Management System go-live • New Billing & CRM: Scalable growth & monetisation
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4Q 2025 Performance Financial growth and resilience across key metrics PAT RM353m 0.9% Q-Q 116.6% Y-Y CAPEX RM733m 21.3% CAPEX Intensity EBITService Revenue RM2,831m 3.8% Q-Q 4.1% Y-Y RM3,445m Total Revenue 5.2% Y-Y 10.2% Q-Q 20.6m Total Subscribers 0.5% Q-Q 1.0% Y-Y EBIT RM592m 8.6% Q-Q 91.0% Y-Y² Declared final dividend per share of 3.6 sen *All are reported numbers
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Financial and Guidance Highlights FY2025 Performance FY2025 Service Revenue EBIT² CAPEX Intensity Guidance Low single digit growth Low to mid single digit growth 14% to 16% FY2025 1.1% 1.4% 12.1% 1 Revenue includes RM82 million interest revenue (YTD 2024: RM69 million), which represents the significant financing component of device bundled contracts allowing customers to pay for devices up to 36 months ²Normalised view excludes any unusual, non-recurring items and/or extraordinary items (ROU impairment & cost for voluntary separation scheme). Service Revenue1 RM10.9b 1.1% Y-Y Total Subscribers 20.6m 1.0% Y-Y EBIT² RM2.7b PAT RM1.5b 10.1% Y-Y CAPEX RM1.6b 33.6% Y-Y Dividend Per Share 14.7sen 4Q25: 3.6 sen 15.7% Y-Y 1.4% Y-Y Normalised RM2.8b
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Operational Updates
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PICTURE Consumer Mobile – Postpaid Growth momentum driven by expanding base and value management • Sustained growth momentum: Revenue grew Q-Q and Y-Y, supported by higher value segment and continued upgrades to convergence plan • Strengthening subscriber quality: Steady growth reflecting stronger base and churn dynamics; disciplined management of customer retention through product and device offers • ARPU remains resilient: Uplift from higher-value segment; continued expansion of Family Line adoption, driving stickiness and steady ARPA growth Revenue Subs (‘000) 5,784 5,871 5,946 6,010 6,091 4Q24 1Q25 2Q25 3Q25 4Q25 ARPU RM60 Q-Q 2.4% Y-Y 5.1% FY 4.1%
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Home & Fibre Solid and steady growth across Convergence, Fibre and FWA • Strong revenue growth: Stable net adds, supported by strong Q-Q revenue growth from continued adoption of CelcomDigi One plans • FWA expansion: Steady Q-Q momentum drove subscriber growth, anchored in the mid-value segment and key urban and suburban markets • ARPU resilient, convergence gaining traction: ARPU steady as converged subscribers maintain twice the retention rate, strengthening overall revenue quality. Refreshed, higher-value portfolio encouraging customers to trade up, contributing to healthier and more sustainable margins Revenue Subs (‘000) 187 205 236 260 285 4Q24 1Q25 2Q25 3Q25 4Q25 ARPU RM90 Q-Q 5.8% Y-Y 30.4% FY 40.2%
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Consumer Mobile – Prepaid Focused on segmented propositions and base retention efforts • Resilient revenue performance: Value uplift from Segmented Mobile Internet portfolio; underlying fundamentals remain steady • Disciplined focus on quality subscribers: Revenue and ARPU stable Q-Q; decline mainly from low value subscriber segments • Strong base management: Disciplined focus on higher-value customer retention and monetisation through personalised offers and value-added services’ upsell Revenue Subs (‘000) 12,862 12,975 12,568 12,347 12,282 4Q24 1Q25 2Q25 3Q25 4Q25 ARPU RM29 Q-Q 0.5% Y-Y -2.9% FY -4.6%
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Enterprise Revenue stable with strong growth from Solutions • Enterprise Solutions: Revenue trends remained resilient, supported by strong demand for core connectivity and solutions offerings, offsetting softness in mobile; TechCo delivered strong growth via IoT and cybersecurity • Enterprise Mobile: Revenue softened due to ARPU pressure despite continued subscriber growth, reflecting near-term monetisation headwinds; Enterprise Mobile PICTURE PICTURE Y-Y 15.0% Q-Q 2.5% FY 9.1% Enterprise Solutions Y-Y 98.5% Q-Q 79.7% FY 24.3%
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Integration and Synergy Review
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Large scale integration efforts nearing completion +8% Y-Y ARPA Improvement 2x ARPU Uplift From Prepaid-to-Postpaid ~40% Fibre & Convergence acquisitions from CelcomDigi base Modernised Retail 60+ CD Stores 300+ CD Express Stores # 1 Strongest Malaysian telco brand >90% Network Integration completed >80% IT consolidation completed 1800MHz & 2600 MHz Spectrum awarded CD App Seamless, personalised digital experiences Innovation “Restart” Refreshed core product portfolio, Security-led solutions, AI-enabled efficiency Progressive Winning Culture High-Performance, Highly Competent Org New Operating Models Network, Distribution, Customer Service 20.6 mil Total subscribers >98% Nationwide 4G network coverage >80% YTD CSAT across all channels Improved business performance Stronger, more reliable network experience Connected digital ecosystem Enhanced CelcomDigi experience across all touchpoints Operational & Organisational excellence
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High-performing and operationally efficient organisation New operating models driving productivity and efficiency >60 CelcomDigi Stores • 2 flagship Life Stores • Post-transformation: o 1.2x productivity improvement o 1.8x revenue uplift per store >300 CelcomDigi Express Stores transformation underway IT consolidation • >80% completed, on-track All new CelcomDigi app • Primary digital touchpoint Seamless, personalised digital experiences at scale Network integration and modernisation • >90% completed New Spectrum Assignments • 2x20 of 2600MHz • 2x5 of 1800MHz Network quality • >80 Mbps • >80% improvement (3 bars & above) Widest, Fastest, Secure Network Connected Digital Ecosystem Enhanced Retail & Lifestyle Experience Operational & Organisational Excellence 3-Year Merger Integration Integration activities approaching completion by 2026; delivering superior customer experience ~RM800mil steady state OPEX savings post-2027
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Delivering Synergy Commitments Three-year integration and transformation nearing completion, synergy targets on track P&L SAVINGS CAPEX AVOIDANCE Total Gross Synergy On track to achieving 2027 expectations: Steady-state savings ~RM800m 157 209 366 FY23 NPV Synergies ~RM8b 345 1,380 1725 304 283 587 FY24 FY25(RM’m) 806 1,872 2,678 TOTAL (as at 4Q25)
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Financial Review
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Financial Topline Snapshot Steady revenue growth and cost discipline support EBIT and PAT resilience, with effective CAPEX management RM’mn 4Q25 3Q25 4Q24 Q-Q Y-Y FY25 FY24 Y-Y Total Revenue 3,445 3,125 3,276 10.2% 5.2% 12,958 12,679 2.2% Service Revenue 2,831 2,728 2,720 3.8% 4.1% 10,906 10,792 1.1% EBIT 592 648 310 -8.6% 91.0% 2,818¹ 2,778¹ 1.4% PAT 353 350 163 0.9% 116.6% 1,530 1,390 10.1% CAPEX 733 343 1,152 113.7% -36.4% 1,574 2,372 -33.6% Subscriber base (K) 20,590 20,493 20,394 0.5% 1.0% 20,590 20,394 1.0% 1. Service Revenue • Steady service revenue growth, driven by Postpaid, Home & Fibre, and TechCo, offsetting softer Prepaid and Enterprise Mobile performance 2. EBIT • EBIT declined Q-Q due to higher depreciation and amortisation charges, while improving Y-Y reflecting the lower depreciation, amortization and impairment costs 3. PAT • PAT improved on lower depreciation and tax benefits, offset by softer revenue and higher costs 4. CAPEX • CAPEX management effective, with savings from efficiency initiatives partially offset by higher investment in projects¹Normalised view excludes any unusual, non-recurring items and/or extraordinary items (ROU impairment & cost for voluntary separation scheme).
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Cost and Expense Cost discipline amidst higher COGS and strategic investments supporting overall expense management RM’m 4Q25 3Q25 4Q24 Q-Q Y-Y FY25 FY24 Y-Y Cost of goods sold 1,052 814 814 29.2 29.2 3,532 3,016 17.1 Sales & marketing 158 157 165 0.6 -4.2 654 670 -2.4 Staff costs 206 188 137 9.6 50.4 818 919 -11.0 Operations & maintenance 217 248 230 -12.5 -5.6 928 939 -1.2 Other operating expenses 413 378 380 9.3 8.7 1,551 1,333 16.4 Total Cost 2,046 1,785 1,726 14.6 18.5 7,483 6,877 8.8 Depreciation, amortization & impairment 812 700 1,218 16.0 -33.3 2,848 3,480 -18.2 Others -5 -8 22 -37.5 -122.7 -45 12 -475.0 Total Expenses 2,853 2,477 2,966 15.2 -3.8 10,286 10,369 -0.8 Total Expense (RM’mn) 2,966 2,477 2,853 4Q24 3Q25 4Q25 -3.8% +15.2% 10,353 10,286 FY24 FY25 -0.6%
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Strong returns to shareholders Final dividend of 3.6 sen per share Net Debt /EBITDA (x) Free Cashflow (RM’m) Dividend per share (sen) Dividend (RM’m) -94 473 226 501 -434 -434 -446 -422 -422 -50 Payment date 30/03/2026 3.7 3.8 3.6 3.6 2.2 2.2 2.2 2.2 2.4 4Q25 2Q25 3Q25 4Q251Q25 Notes: • Remain committed in distributing dividend at minimum of 80% of net earnings • Balancing prudent capital management • Strategically investing for the future 3.7
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2026 Guidance
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2026 Guidance Progressing in line with guidance Low single digit growth Low single digit growth CAPEX Intensity 12% to 13% EBIT* Service Revenue *To accurately reflect CelcomDigi’s underlying performance, EBIT growth guidance for 2026 excludes any unusual, non-recurring items and/or extraordinary items (ROU impairment & cost for voluntary separation scheme in 2025) and any impact from DNB and regulatory developments.
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Delivering final phase of integration and transformation initiatives 2026 Strategy Clear pathway for long-term profitable growth Strengthening Market Leadership Enhancing Customer Experience Driving Operational Excellence Investing for the Future • Execute for growth and market leadership, driving improved monetisation • Strengthen GTM and deepen digital engagement • Trusted brand leadership • Enhance customer experience across all touchpoints • Foster customer loyalty and retention • Achieve best network performance with unmatched reliability • Drive efficiency and productivity • Streamline operating models and structures • Leverage technology and innovation for efficiency and service excellence • Future-proof with autonomous tech • Accelerate AI, Data & 5G innovation for new revenue opportunities • Build high-performing, highly competent future-ready workforce • Drive responsible and sustainable business
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This document is proprietary and confidential. All rights reserved. No part of this document may be reproduced or distributed without prior written permission.
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Q&A
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26Private & Confidential11 February 2026 Happy Chinese New Year
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27Private & Confidential11 February 2026 Thank You CelcomDigi Berhad Registration No: 199701009694 (425190 - X)