NetLink FY26 profit falls 12.6% to $83.3m as costs rise

DPU rose to 5.42 cents despite higher expenses and lower EBITDA margins.

NetLink NBN Trust posted a 12.6% decline in profit after tax to $83.3m for the financial year (FY) ended 31 March, as higher operating expenses and depreciation outweighed modest revenue growth.

Revenue rose 1.6% year on year (YoY) to $413.4m, supported mainly by higher ancillary project work.

EBITDA fell 1.8% to $282.9m, with the EBITDA margin narrowing to 68.4% from 70.8% a year earlier, the company reported.

Distribution per unit (DPU) increased 1.1% to 5.42 Singapore cents for FY26, reflecting higher distributable cash flow of $211.2m.

For the second half ended 31 March, revenue increased 2.1% to $206.3m, whilst profit after tax declined 15.1% to $39.8m.

NetLink attributed the earnings decline to higher staff costs, maintenance expenses, operations and property tax, alongside increased depreciation and amortisation.

Net cash generated from operating activities remained stable at $258.8m for FY26.

Regulated asset base revenue was steady, with higher co-location income offset by lower residential, non-building address point, and segment connection revenue.

The Trustee-Manager maintained its policy of distributing 100% of cash available for distribution on a semi-annual basis.

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