Axiata Q1 2021 Earnings Results

Axiata Group Berhad reported Q1 2021 results with revenue ex-device growth of 2.0% and EBITDA growth of 10.6%, achieving a 44.4% EBITDA margin. The underlying PATAMI surged 85.0% driven by improved EBITDA contribution and lower net finance costs, while operating free cash flow rose 70.7% to RM1.1bn, reflecting a healthy balance sheet with gross debt/EBITDA at 2.50x.