Global Finance News
12 Feb 2026, 13:18
StarHub Ltd Reports FY2025 Results in Line with Outlook
StarHub reported FY2025 service revenue of S$2.0 billion and total revenue of S$2.4 billion, meeting its full-year guidance across key metrics. EBITDA came in at S$403.6 million, while net profit attributable to shareholders (NPAT) was S$86.4 million. Excluding the one-off impact from the forfeiture payment related to 700MHz spectrum, NPAT would have been S$100.5 million.
The Regional Enterprise Business grew 2.9% year over year, supported by a 5.3% increase in Managed Services revenue and 4.3% growth in Cybersecurity Services revenue. EBITDA performance was in line with guidance at 92.2% of FY2024 adjusted EBITDA, while capital expenditure, excluding spectrum payments, was 6.7% of total revenue, below the guided 9%–11% range.
Free cash flow recorded a deficit of S$24.7 million, primarily due to a one-off S$188.0 million spectrum payment. Excluding this, free cash flow would have been a surplus of S$163.3 million, slightly higher year over year. The company expects positive free cash flow trends to resume in FY2026.
For FY2026, StarHub expects EBITDA to be 75%–80% of FY2025 levels, reflecting continued competitive pressure in the Singapore consumer market, partially offset by stronger Managed Services performance. Capex is projected at 13%–15% of total revenue, driven by investments in IT, cybersecurity and network infrastructure.
The board proposed a final dividend of 3.0 cents per share, bringing total FY2025 dividends to 6.0 cents per share. Cash and bank balances stood at S$857.1 million at year-end, with net debt to EBITDA at 2.0 times.
Source: StarHub FY2025 results announcement, February 12, 2026.
StarHub reported FY2025 service revenue of S$2.0 billion and total revenue of S$2.4 billion, meeting its full-year guidance across key metrics. EBITDA came in at S$403.6 million, while net profit attributable to shareholders (NPAT) was S$86.4 million. Excluding the one-off impact from the forfeiture payment related to 700MHz spectrum, NPAT would have been S$100.5 million.
The Regional Enterprise Business grew 2.9% year over year, supported by a 5.3% increase in Managed Services revenue and 4.3% growth in Cybersecurity Services revenue. EBITDA performance was in line with guidance at 92.2% of FY2024 adjusted EBITDA, while capital expenditure, excluding spectrum payments, was 6.7% of total revenue, below the guided 9%–11% range.
Free cash flow recorded a deficit of S$24.7 million, primarily due to a one-off S$188.0 million spectrum payment. Excluding this, free cash flow would have been a surplus of S$163.3 million, slightly higher year over year. The company expects positive free cash flow trends to resume in FY2026.
For FY2026, StarHub expects EBITDA to be 75%–80% of FY2025 levels, reflecting continued competitive pressure in the Singapore consumer market, partially offset by stronger Managed Services performance. Capex is projected at 13%–15% of total revenue, driven by investments in IT, cybersecurity and network infrastructure.
The board proposed a final dividend of 3.0 cents per share, bringing total FY2025 dividends to 6.0 cents per share. Cash and bank balances stood at S$857.1 million at year-end, with net debt to EBITDA at 2.0 times.
Source: StarHub FY2025 results announcement, February 12, 2026.