StarHub may face risks in weaker earnings and execution of transformation programme

Its results were within the analyst’s expectations.

Telecommunications firm, StarHub, may face downside risks such as weaker-than-expected earnings and execution of the transformation program, said RHB.

Whilst its final quarter results were in line with RHB’s projections, provisions for its transformation program may be contributing to headline losses in the quarter.

There was overall recovery in revenue momentum, with inorganic acquisitions playing a role. 

Management guided for similar service EBITDA margin (c. 20%) for FY23F with 8-10% service revenue growth. 

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