Maxis experienced stable growth with increased profitability in Q2 2025, reporting EBITDA growth of 4.6% YoY to RM1,094 million and a Profit After Tax (PAT) rise of 11.8% to RM398 million.
Service revenue remained stable at RM2,204 million, despite the ongoing effects of changes to the device protection programme. Consumer Mobile revenue declined by 1.3% YoY, but mobile subscriptions grew by 2.8% due to enhanced Postpaid data plans.
The Consumer Home segment achieved a 1.2% revenue increase alongside a 1.4% rise in connections, providing value through a converged Home proposition.
Enterprise revenue grew by 1.5%, driven by rising mobile subscriptions and demand for digital solutions, with a robust pipeline supporting digital transformation for SMEs, corporates, and the public sector.
Goh Seow Eng, Chief Executive Officer of Maxis, said, “Our Q2 results demonstrate our continued resilience, driven by a disciplined focus on operational excellence. This includes driving greater efficiency and reliability through digitalisation and AI to enhance and automate processes, including network optimisation. We maintain our full-year guidance for low single-digit service revenue growth and flat to low single-digit EBITDA growth, and will continue to strategically invest in our network and offerings to enhance our integrated capabilities and meet evolving customer needs. Reflecting our sound fundamentals and continued strong cashflow, we are declaring an interim dividend of 4 sen per share.”
Financial highlights: Q2 2025 vs Q2 2024
- Service Revenue declined by 0.5% to RM2,204 million, due to the previously announced changes in commercial arrangements related to Maxis’ device protection programme.
- Consumer Business service revenue declined by 1.0% to RM1,797 million.
- Consumer Mobile service revenue decreased by 1.3% to RM1,543 million, while subscriptions grew by 2.8%, bringing the total number of mobile subscribers to 9.81 million. The decrease in service revenue is due to the aforementioned commercial arrangements related to Maxis’ device protection programme, and lower interconnect rates.
- Consumer Home service revenue grew by 1.2% to RM254 million, supported by a 1.4% rise in subscriptions to 788,000 subscribers. Growth was driven by the continued focus on delivering exceptional customer value and converged home offerings.
- Enterprise Business service revenue rose by 1.5% to RM407 million, driven by higher mobile subscriptions and fixed and solutions revenue growth.
- EBITDA increased by 4.6% to RM1,094 million, supported by stable underlying service revenue and efficient cost management.
- PAT increased by 11.8% to RM398 million in line with EBITDA growth.
- Interim dividend of 4 sen per share for the quarter.
- Capex of RM165 million, prioritising investments in fibre infrastructure that enhance Maxis’ integrated network capabilities and continued focus on targeted upgrades to its mobile network to meet capacity requirements.
- Operating free cash flow stood at RM929 million with a strong cash balance of RM688 million as of Q2 2025, supported by effective working capital management.
Key Initiatives:
- Announced a major expansion of Maxis’ own-built fibre network infrastructure through deployment in Penang, with the goal of connecting more than 100,000 homes in the state by 2027.
- Partnered with Aduna to accelerate enterprise innovation through powerful network application programming interfaces (APIs).
- Presented Hotlink’s best value proposition for budget-savvy consumers under Hotlink Pasti Mampu prepaid and postpaid offerings.
- Launched Hotlink’s Travel SIM with unlimited internet, providing users with reliable connectivity across Malaysia, Singapore, Thailand, and Indonesia.
- Collaborated with the Ministry of Education (MoE) through Maxis eKelas to empower B40 students towards academic success and higher education.