Financials Singapore Telecommunications Limited

Equities

Z74

SG1T75931496

Integrated Telecommunications Services

Delayed Singapore S.E. Other stock markets 12:29:09 15/07/2025 pm IST			5-day change	1st Jan Change
4.030 ^SGD	-0.49%		+2.03%	+30.00%

11/07	Stocks advance as investors focus on tariff talks, currencies slip	RE
10/07	Stocks advance, currencies tick higher as investors downplay latest US tariffs	RE

Projected Income Statement: Singapore Telecommunications Limited

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	15,644	15,339	14,624	14,128	14,146	14,431	14,920	15,247
Change	-	-1.95%	-4.66%	-3.4%	0.13%	2.01%	3.39%	2.19%
EBITDA ¹	3,832	3,767	3,686	3,597	3,792	3,951	4,169	4,298
Change	-	-1.68%	-2.16%	-2.41%	5.42%	4.2%	5.52%	3.09%
EBIT ¹	1,147	1,045	1,112	1,153	1,381	1,493	1,662	1,791
Change	-	-8.89%	6.41%	3.7%	19.78%	8.14%	11.29%	7.78%
Interest Paid ¹	-395.2	-312.8	-358.9	-302.9	-342.5	-307.8	-301	-309.1
Earnings before Tax (EBT) ¹	754	2,621	2,598	961.2	4,593	4,277	4,277	4,528
Change	-	247.64%	-0.87%	-63.01%	377.87%	-6.89%	0.01%	5.85%
Net income ¹	553.7	1,948	2,225	795	4,017	3,212	3,189	3,399
Change	-	251.91%	14.2%	-64.27%	405.28%	-20.04%	-0.73%	6.61%
Announcement Date	26/05/21	26/05/22	24/05/23	22/05/24	21/05/25	-	-	-

¹SGD in Million

Estimates

Fiscal Period: March	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4
Net sales ¹	3,543	3,882	4,239	3,981	3,855	3,913	3,773	3,584	3,675	3,713	3,652	3,488	3,540	3,593	3,506	3,413	3,579	3,629	3,525	3,430	3,615	3,738	3,713
Change	-	9.56%	9.21%	-6.09%	-3.17%	1.5%	-3.58%	-5.01%	2.54%	1.04%	-1.63%	-4.5%	1.5%	1.49%	-2.42%	-2.66%	4.86%	1.4%	-2.87%	-2.69%	5.39%	3.4%	-0.67%
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	977	-	-	902	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	-	-	-	-	260.4	313	221.8	328	251	288	311	300	279.6	324	249.3	-	355.9	344	299	340	371.9	384.6	385.6
Change	-	-	-	-	-	20.2%	-29.14%	47.88%	-23.48%	14.74%	7.99%	-3.54%	-6.8%	15.88%	-23.06%	-	-	-3.34%	-13.08%	13.7%	9.39%	3.4%	0.28%
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-77	-	-	-	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	956	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income	-	486.1	593	-505.3	-	-	-	-	-	-	-	-	-	465	-	690	-	-	-	-	-	-	-
Change	-	-	21.99%	-185.21%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	16/08/20	11/11/20	10/02/21	26/05/21	10/11/21	14/02/22	26/05/22	24/08/22	09/11/22	15/02/23	24/05/23	21/08/23	08/11/23	22/02/24	22/05/24	14/08/24	12/11/24	18/02/25	21/05/25	-	-	-	-

¹SGD in Million

Estimates

Fiscal Period: March	2021 S2	2022 S1	2022 S2	2023 S1	2023 S2	2025 S2
Net sales ¹	8,219	7,652	7,687	7,259	7,366	7,154
Change	-	-6.9%	0.45%	-5.56%	1.47%	-2.87%
EBITDA ¹	1,928	1,929	1,839	1,878	1,808	1,845
Change	-	0.04%	-4.68%	2.13%	-3.71%	2.02%
EBIT	550.9	572.4	472.4	579	-	-
Change	-	3.9%	-17.47%	22.57%	-	-
Charge d'intérêts ¹	-	-	-	-	-	-198.2
Earnings before Tax (EBT) ¹	-	-	-	-	-	3,175
Change	-	-	-	-	-	-
Net income ¹	-	-	-	1,170	-	2,786
Change	-	-	-	-	-	-
Announcement Date	26/05/21	10/11/21	26/05/22	09/11/22	24/05/23	21/05/25

¹SGD in Million

Estimates

Forecast Balance Sheet: Singapore Telecommunications Limited

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	12,365	9,739	9,225	7,294	8,899	7,644	7,429	7,821
Change	-	-21.24%	-5.28%	-20.93%	22%	-14.1%	-2.81%	5.28%
Announcement Date	26/05/21	26/05/22	24/05/23	22/05/24	21/05/25	-	-	-

¹SGD in Million

Estimates

Cash Flow Forecast: Singapore Telecommunications Limited

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
CAPEX ¹	2,214	2,217	2,162	2,150	2,133	2,210	2,076	1,907
Change	-	0.12%	-2.47%	-0.6%	-0.78%	3.6%	-6.04%	-8.13%
Free Cash Flow (FCF) ¹	3,395	3,081	2,613	2,569	2,476	3,676	3,985	4,288
Change	-	-9.25%	-15.18%	-1.68%	-3.62%	48.48%	8.4%	7.6%
Announcement Date	26/05/21	26/05/22	24/05/23	22/05/24	21/05/25	-	-	-

¹SGD in Million

Estimates

Forecast Financial Ratios: Singapore Telecommunications Limited

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	24.49%	24.56%	25.2%	25.46%	26.81%	27.38%	27.94%	28.19%
EBIT Margin (%)	7.33%	6.81%	7.6%	8.16%	9.76%	10.35%	11.14%	11.75%
EBT Margin (%)	4.82%	17.09%	17.77%	6.8%	32.47%	29.64%	28.67%	29.69%
Net margin (%)	3.54%	12.7%	15.21%	5.63%	28.4%	22.26%	21.37%	22.3%
FCF margin (%)	21.7%	20.08%	17.87%	18.18%	17.5%	25.48%	26.71%	28.12%
FCF / Net Income (%)	613.08%	158.11%	117.43%	323.14%	61.64%	114.46%	124.99%	126.14%
Profitability
ROA	3.57%	4.01%	4.29%	4.88%	5.31%	5.76%	6.75%	6.97%
ROE	6.51%	7.14%	7.59%	8.88%	9.72%	11.41%	12.19%	13.13%
Financial Health
Leverage (Debt/EBITDA)	3.23x	2.59x	2.5x	2.03x	2.35x	1.93x	1.78x	1.82x
Debt / Free cash flow	3.64x	3.16x	3.53x	2.84x	3.59x	2.08x	1.86x	1.82x
Capital Intensity
CAPEX / Current Assets (%)	14.15%	14.45%	14.79%	15.22%	15.08%	15.31%	13.91%	12.51%
CAPEX / EBITDA (%)	57.79%	58.85%	58.67%	59.76%	56.24%	55.92%	49.79%	44.38%
CAPEX / FCF (%)	65.23%	71.97%	82.76%	83.67%	86.14%	60.1%	52.09%	44.48%
Items per share
Cash flow per share ¹	0.3423	0.3201	0.2885	0.285	0.2784	0.2645	0.279	0.2998
Change	-	-6.48%	-9.87%	-1.21%	-2.33%	-4.97%	5.47%	7.45%
Dividend per Share ¹	0.075	0.093	0.144	0.15	0.17	0.1799	0.1943	0.2099
Change	-	24%	54.84%	4.17%	13.33%	5.81%	8%	8.06%
Book Value Per Share ¹	1.616	1.702	1.575	1.51	1.569	1.596	1.616	1.608
Change	-	5.3%	-7.44%	-4.13%	3.9%	1.69%	1.26%	-0.48%
EPS ¹	0.0338	0.1176	0.134	0.0475	0.2392	0.1856	0.1924	0.2046
Change	-	247.93%	13.95%	-64.55%	403.58%	-22.4%	3.66%	6.34%
Nbr of stocks (in thousands)	1,65,13,963	1,65,07,889	1,65,03,958	1,65,03,347	1,65,01,331	1,65,12,585	1,65,12,585	1,65,12,585
Announcement Date	26/05/21	26/05/22	24/05/23	22/05/24	21/05/25	-	-	-