Overview of Tuas Limited's FY24 Financial Results

Tuas Limited (ASX:TUA) has released its financial results for the period 1 August 2023 to 31 July 2024. The company reported a 36% increase in revenue over FY23, driven by a growing subscriber base and achieved an EBITDA of $49.7M with an EBITDA margin of 42% compared to 36% in FY23. Additionally, Tuas Limited reached a positive cashflow milestone for FY24.

Executive Commentary on FY24 Performance and Outlook

The company's strong financial performance in FY24 reflects our continued focus on driving value at every price point and expanding our network coverage. We are pleased with the increased subscriber growth and the positive response to our 7GB roaming offer to over 60 countries. Our commitment to investing in network CAPEX has supported this growth, and the recent regulatory decision to allow 5G on the 900MHz band further enhances our capabilities. Looking ahead to FY25, we remain committed to broad-based mobile subscriber growth and aim to achieve full year positive NPAT. Our focus on growing 10Gbps residential fibre broadband momentum aligns with our ambition to provide superfast broadband to a wider consumer base.

Summary of Tuas Limited's FY24 Presentation and Outlook

Tuas Limited (ASX:TUA) has reported a strong financial performance for FY24, driven by a 36% revenue increase and achieving a positive cashflow milestone. The company's focus on driving value at every price point, expanding network coverage, and investing in network CAPEX has resulted in increased subscriber growth and a positive response to its 7GB roaming offer. Looking forward, Tuas Limited aims to achieve full year positive NPAT in FY25 and is committed to growing 10Gbps residential fibre broadband momentum. The company acknowledges the forward-looking nature of the information presented and the associated risks and uncertainties.