Saturday, June 3, 2023

Maxis is now the 2nd Largest Mobile Network Operator in terms of Subscribers [4Q22]

Maxis is now the second (2nd) largest mobile network operator (MNO) in Malaysia in terms of subscribers.

As of the end of 2022, Maxis reported a mobile subscriber base of 11.88 million. For comparison, the newly merged CelcomDigi had 20.21 million subscribers at the end of 2022.

In 2022, Maxis said it invested RM1.1 billion in capex, with a focus on upgrading and building new mobile sites for 4G expansion and to increase its Fibre footprint to more homes and businesses.


Maxis currently offers a long list of 5G smartphones with lock-in contracts and has declared itself as the “leading 5G ecosystem platform in Malaysia” but it is currently the only major mobile network operator without 5G connectivity in the country.

At the moment, the 5G-ready-only service provider offers 5G International roaming service in partnership with much more advanced-network service provider in other countries such as Singapore, Indonesia and Thailand.


Maxis Subscriptions as of December 2022 (4Q22)

  • Total Mobile Subscriptions: 11.88 million (added 2k new subscriptions to its mobile base between October-December 2022)
  • Hotlink Prepaid Subscriptions: 7.15 million (lost 41k subscribers in 4Q22)
  • Maxis/Hotlink Postpaid Subscriptions: 4.6 million (added 113k new subscriptions in 4Q22)
  • Wireless Broadband Subscriptions: 141k (lost 70k subscribers)
  • Home Fibre Subscribers: 587k (added 23k new sign ups in 4Q22)
  • Business Fibre Subscribers: 40k (Some 1k business customers terminated their subscription in 4Q22)
  • Prepaid ARPU: RM31.8 (+RM0.5)
  • Postpaid ARPU: RM72.7 (-RM0.1)
  • Home Fibre APRU: RM108.5 (+RM0.5)
  • Prepaid Data Usage: 24.9GB on average (24.6GB in 3Q22)
  • Postpaid Data Usage: 29.3GB on average (29.1GB in 3Q22)

When it comes to revenue generating subscriptions (RGS), excluding M2M, Maxis has 9.8 million mobile subscriptions (+46k, 9.75 million in 3Q22) including 5.79 million consumer prepaid (-43k, 5.83 million in 3Q22), 3.34 million consumer postpaid (+72k, 3.27 million in 3Q22), 577k consumer fibre (+22k, 555k in 3Q22) and 92k (-5k, 97k in 3Q22) consumer wireless broadband users.

Maxis revenue generating subscribers (RGS) are defined as active line subscriptions (postpaid and prepaid) that excludes those without revenue generating activities for more than 30 days.

The company did not share any network statistic of its “unmatched” mobile network.


FY2022 financial highlights – FY2022 vs FY2021, according to Maxis:

  • Service Revenue increased to RM8,336 million, up 4.0%, a result of growth in all segments within the Consumer and Enterprise businesses.
  • Consumer Business recorded a revenue of RM6,811 million, up 4.8%:
    • Postpaid continued to see strong subscriber growth, up 6.5%, bringing the total number of postpaid subscriptions to 3.34 million. This contributed to RM3,275 million in revenue, up 6.9%.
    • Prepaid recorded a slight dip of 2.9% in subscription, due to continued prepaid to postpaid migration. The segment remained resilient, with overall subscribers at a stable 5.79 million and delivering RM2,693 million in revenue.
    • Home Connectivity delivered double digit revenue growth, contributing RM843 million, up 16.9%. While actively converting Wireless Broadband Customers to Fibre, there was overall growth of over 78k new connections due to the demand for converged services.
  • Enterprise Business revenue was at RM1,525 million. Excluding wholesale voice, core revenue for the business was up 8.8%. The segment continues to show potential for revenue uplift in the future.
  • EBITDA increased by 1.6% to RM3,938 million, driven by higher revenue.
  • Profit after tax was at RM1,181 million, easing by 9.7% due to the Prosperity Tax charged during the year. (33% on chargeable income exceeding RM100 million)
  • Capex was at RM1,114 million to deliver the best converged network performance and experience.
  • Retained a strong Operating free cash flow of RM3,303 million.

[PDF] Maxis

Kugan is the co-founder of MalaysianWireless. He has been observing the mobile industry since 2003. Connect with him on Twitter: @scamboy

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