Highlights

James的股票投资James Share Investing

Author: James Ng   |   Latest post: Thu, 12 Dec 2019, 8:36 AM

 

[转贴] [DIGI .COM BHD:长期激烈的数据竞争,监管变化的影响以及传统移动服务的持续下滑削弱了数码网络的整体增长轨迹,预付费数据收入的增长也放缓] - James的股票投资James Share Investing

Author:   |    Publish date:


[DIGI .COM BHD:长期激烈的数据竞争,监管变化的影响以及传统移动服务的持续下滑削弱了数码网络的整体增长轨迹,预付费数据收入的增长也放缓]

POSTPAID:强劲的新增用户量和现有客户的配套升级支持了稳健的增长

后付费ARPU略微下调至RM70,基于扩大的后付费用户群,入门级后付费配套的组合也增加。后付费收入year-on-year增长12.6%,quarter-on-quarter增长3.9%至6.97亿令吉,而后付费互联网收入year-on-year增长18.8%,quarter-on-quarter增长3.0%至4.75亿令吉。作为前一年加速增加的后付合同的量,本季度合同资产摊销同比增加了1,900万令吉,达到4,900万令吉。

预付:尽管Y-Y下滑有所改善,但数据收入增长受到竞争者的数据产品和渠道转型的挑战

尽管互联网使用量持续增长且预付费互联网用户数量增加,但长期激烈的数据竞争以及活跃的后付费转换削减了互联网收入增长。预付互联网收入同比保持相对平稳,环比增长0.7%至4.04亿令吉或预付收入的53.8%。

移动服务:更好的Q-Q和改善的Y-Y轨迹,得到稳固的后付费增长和不断增长的互联网用户的支持

移动服务收入环比增长0.7%至14.5亿令吉或净合约资产摊销净额14亿令吉,这主要得益于预付费下降幅度较小以及后付费的稳健增长。改进后的Phone Freedom 365计划于2019年3月推出,预付费网络稳定增长以及预付费语音服务下降速度变缓慢,为本季度的收入表现提供了稳固推动,同比收入下降至-2.2%(2019年1季度: -2.8%)。

他们努力推动从预付转换到后付费,强大的互联网用户和使用率,使互联网收入同比增长9.2%,达到8.79亿令吉,占服务收入的62.7%,智能手机采用率增长83.1%,同时数据需求和使用量也在不断增加。设备和其他收入环比增长26.7%至1.47亿令吉,这主要得益于简易设备所有权计划,Phone Freedom 365现已经过锐化和增强,以满足新老客户的需求。

成本:支持数据量升级和增强数字功能的高效运营

销售的设备数量较高,使得COGS环比增加2.3%至3.11亿令吉。 Opex服务收入比率略微减少至34.7%(2018年第一季度:35.2%),同时继续投资网络覆盖和产能扩张,为1140万用户群提供服务以及推动更强的后付费和互联网订阅的营销活动。

EBITDA和PAT:通过更强的表现提供可持续运营

EBITDA同比下降2.1%,因为较低的收入和来自加速合同资产摊销的影响同比增长。

资本支出和OPS现金流:战略性地加速资本支出以激活2019年下半年的增长机会

Ops现金流year-on-year下降20.9%,quarter-on-quarter下降11.5%至4.91亿令吉或32%,与本季度资本支出增加一致。

2019年的前景和优先事项

由于长期激烈的数据竞争,监管变化的影响以及传统移动服务的持续下滑削弱了数码网络的整体增长轨迹,预付费数据收入的增长也放缓。因此,2019年的服务收入增长和EBITDA增长指引现在修正为低个位数下降,与2019年上半年的表现一致。
-----------------------------
James Ng Stock Pick Performance:
Since Recommended Return:

a) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM1.64 (dividend RM0.025) in 1 year 29 days, total return is 132.9%

b) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.40 (dividend RM0.04) in 1 year 2 months 9 days, total return is 81.1%

c) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.29 in 8 months 25 days, total return is 61.3%

d) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.66 (dividend RM0.07) in 9 months 23 days, total return is 36.2%

e) PWROOT (POWER ROOT BHD), recommended on 7 Oct 18, initial price was RM1.59, rose to RM2.07 (dividends RM0.063) in 11 months 3 days, total return is 34.2%

f) KGB (KELINGTON GROUP BHD), recommended on 23 Dec 18, initial price was RM0.965, rose to RM1.26 (dividend RM0.008) in 8 months 18 days, total return is 31.4%

g) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.29 (dividend RM0.1875) in 10 months 27 days, total return is 31.1%

h) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM0.745 in 7 months 21 days, total return is 29.6%

i) PESTECH (PESTECH INTERNATIONAL BHD), recommended on 2 Jun 19, initial price was RM1.04, rose to RM1.26 in 3 months 8 days, total return is 21.2%

j) MI (MI TECHNOVATION BERHAD), recommended on 2 Jun 19, initial price was RM1.67, rose to RM1.93 (dividend RM0.01) in 3 months 7 days, total return is 16.2%

k) SERBADK (SERBA DINAMIK HOLDINGS BHD), recommended on 29 Jul 18, initial price was RM3.96, rose to RM4.36 (dividends RM0.084) in 1 Year 1 month 12 days, total return is 12.2%

l) BJFOOD (BERJAYA FOOD BHD), recommended on 30 Sep 18, initial price was RM1.43, rose to RM1.49 (dividends RM0.04) in 11 months 10 days, total return is 7%

m) FIAMMA (FIAMMA HOLDINGS BHD), recommended on 23 Sep 18, initial price was RM0.495, rose to RM0.49 (dividends RM0.0225) in 11 months 18 days, total return is 3.5%

我希望将我的策略分享给读者,希望他们在阅读后能够表现出色。我正在使用基本面分析(Fundamental Analysis):

预计公司每年的增长率必须> 14%

我想说服读者学习基本面分析FA以便能从股市赚钱。

我为想从马来西亚股票市场赚钱的读者提供STOCK PICK服务。想订阅我的邮件以从股票市场获取良好回报的人,可以通过jamesngshare@gmail.com 或我的FB页面与我联系。

1)【看懂年报和季报】课程:
11a.m. – 7p.m.,免费茶和咖啡

10月19日星期六:Silka Johor Bahru Hotel, Johor Bahru 5份点心

12月22日星期日:AG Hotel Penang, George Town 2份点心

12月29日星期日:Hotel Sri Petaling, KL 3份点心

2)【股票-实际操作班】课程:
10a.m. – 9p.m.,免费午餐和晚餐

10月20日星期日:Silka Johor Bahru Hotel, Johor Bahru

12月21日星期六:AG Hotel Penang, George Town

12月28日星期六:Hotel Sri Petaling, KL

3) 【公司业绩分享会】:
2p.m. – 7p.m.,免费茶和咖啡

10月18日星期五:Silka Johor Bahru Hotel, Johor Bahru 5份点心

12月20日星期五:AG Hotel Penang, George Town 2份点心

12月27日星期五:Hotel Sri Petaling, KL 3份点心

有兴趣的朋友,可以电邮或PM FB page联络我
email:jamesngshare@gmail.com
电话/Whatsapp : 011 - 15852043

Facebook Group: https://www.facebook.com/groups/jamesinvesting

这个是我的TELEGRAM Group链接,大家可以在这个Group获知何时做Fb live: https://t.me/joinchat/LhwHNhdU1fDgxrSafTrTiw

请大家来Follow James的Instagram,获取最新的资讯:jamesnginvest

这个分享纯属讨论以及领域的分析,买或卖自负。请Like和Share这个post。最终决定永远是你的,谢谢。

James Ng
------------------------
[DIGI .COM BHD: slower data revenue growth from prepaid challenged by prolonged intense data competition coupled with effects from regulatory changes in interconnect rates and continued decline from legacy mobile services trimmed overall growth trajectory]

POSTPAID: Solid growth supported by stronger subscriber acquisitions and plan upgrades from existing customers

Postpaid ARPU trimmed marginally to RM70 anchored on an expanded postpaid subscriber base with increased mix from entry level postpaid plans. Postpaid revenue grew 12.6% year-on-year and 3.9% quarter-on-quarter to RM697 million while postpaid internet revenue rose 18.8% year-on-year and 3.0% quarter-on-quarter to RM475 million. As a flow through from prior year’s accelerated postpaid contract acquisition, contract asset amortisation for the quarter climbed up RM19 million year-on-year to RM49 million.

PREPAID: Data revenue growth challenged by aggressive data offerings and channel transformation although Y-Y decline improved

Despite steady internet usage growth and stronger prepaid internet subscribers, the prolonged intense data competition coupled with active postpaid conversions trimmed internet revenue growth. Prepaid internet revenue remained relatively flat year-on-year and strengthened 0.7% quarter-on-quarter to RM404 million or 53.8% of prepaid revenue.

MOBILE SERVICE: Better Q-Q and improving Y-Y trajectory supported by solid postpaid growth and growing internet subscribers

Mobile service revenue strengthened 0.7% sequentially to RM1.45 billion or RM1.40 billion net of contract assets amortisation, supported by narrowed prepaid decline and solid growth from postpaid. The revamped Phone Freedom 365 program launched in March 2019 and steady internet uptake from prepaid alongside slower prepaid voice decline provided a solid boost to the topline performance for the quarter and narrowed year-on-year service revenue decline to -2.2% (1Q 2019: -2.8%).

Their efforts to drive growth from prepaid to postpaid conversions, stronger internet subscribers and usage resulted in 9.2% higher internet revenue year-on-year to RM879 million or 62.7% of service revenue, 83.1% smartphone adoption alongside increasing data demand and usage. Device and other revenue increased 26.7% quarter-on-quarter to RM147 million, boosted by easy device ownership program, Phone Freedom 365 which now have been sharpened and enhanced to cater for both new and existing customers.

COST: Efficient operations to support capacity upgrades and enhanced digital capabilities

The higher device volumes sold sequentially contributed to 2.3% higher COGS quarter-on-quarter to RM311 million. Opex to service revenue trimmed marginally to 34.7% (1Q 2018: 35.2%) while they continued investing on network coverage and capacity expansions to serve their 11.4 million subscriber base as well as marketing activities to drive stronger postpaid and internet subscriptions.

EBITDA and PAT: Delivering sustainable operations with stronger sequential performance

EBITDA trimmed 2.1% year-on-year as a flow through of lower top line revenue and effects from accelerated contract assets amortisation year-on-year.

CAPEX AND OPS CASH FLOW: Strategically accelerate capex to activate growth opportunities in 2H 2019

Ops cashflow moderated 20.9% year-on-year and 11.5% quarter-on-quarter to RM491m or 32% margin in line with higher Capex investment for the quarter.

2019 OUTLOOK AND PRIORITIES

The slower data revenue growth from prepaid challenged by prolonged intense data competition coupled with effects from regulatory changes in interconnect rates and continued decline from legacy mobile services trimmed overall growth trajectory. Consequentially, service revenue growth and EBITDA growth guidance for 2019 is now revised to low single digit decline, in line with 1H 2019 performance.
--------------------------------------------------------------------------
I wish to share my strategy to readers, hope that they can perform well after reading this. I am using Fundamental Analysis:

the forecasted growth of a company must > 14% per year

I wish to convince readers to learn FA in order to make money from stock market.

I am providing STOCK PICK SERVICE for readers who want to make money from Malaysian stock market. Those who want to subscribe to my mailing list to achieve a good return from stock market, you can contact me at jamesngshare@gmail.com or PM me in my FB page.

This sharing is purely a discussion and analysis of the sector, buying or selling at your own risk. Please Like and Share this post. Final decision is always yours, thank you.

James Ng

Share this
Labels: DIGI

Related Stocks

Chart Stock Name Last Change Volume 
DIGI 4.51 -0.01 (0.22%) 759,900 

  Be the first to like this.
 


 

289  251  522  1203 

ActiveGainersLosers
Top 10 Active Counters
 NameLastChange 
 ECOWLD 0.795+0.05 
 SAPNRG 0.260.00 
 HSI-H8F 0.13-0.06 
 EKOVEST 0.81+0.015 
 DYNACIA-PA 0.05+0.01 
 HSI-C7K 0.335+0.055 
 PERDANA-PR 0.010.00 
 DGB 0.14-0.005 
 ECOWLD-CV 0.025+0.01 
 KHEESAN 0.47-0.025 

FEATURED POSTS

1. Leveraged & Inverse ETF CMS
Partners & Brokers