Tuas Limited (ASX:TUA) AGM Highlights Strong Financial Performance
Financial Results
Tuas Limited (ASX:TUA) reported unaudited positive financial results for Q1 FY25 during their recent Annual General Meeting (AGM). The company achieved a revenue of S$35.5 million and an EBITDA of S$16.1 million. Significant cash flow improvements were evidenced by an ending cash balance of S$62.1 million, with net cash from operating activities totaling S$18.3 million.
Business Updates
Chairman David Teoh highlighted that the company’s mobile telecommunications business, Simba, continued to capture market share with approximately 1.1 million active services as of October 2024. Simba’s market share stands at 10.7%, according to the latest available data.
The rollout of 10Gbps fibre broadband is complete, with over 10,000 active subscribers as of November 30, 2024. The company also plans to enhance its product offerings, introducing innovative data-only SIMs and eSIMs to cater to new market segments.
Future Outlook
Looking ahead, Tuas Limited maintains its FY25 capital expenditure guidance between S$45 million and S$55 million. The company aims for continued growth in its mobile services and fibre broadband sectors, while enhancing network quality to support expansion.
Executive Comments
David Teoh expressed pride in the achievements of Tuas Limited and its staff, stating, “Once again, our Company has met its objectives and performed very well in FY24.” CEO Richard Tan is set to elaborate on the company’s performance moving forward and its strategic direction during the AGM.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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