PETALING JAYA: CGS International (CGSI) Research has adjusted its financial year 2026 (FY26) and FY27 core net profit estimates for Axiata Group Bhd
downward by 11.5% and 24%, respectively, while raising its FY28 estimate by 1.1% to reflect a stronger ringgit versus its operating currencies, as well as lower earnings estimates for CelcomDigi Bhd and XLSmart.
Axiata is one of the controlling joint shareholders of XLSmart, a major Indonesian telecommunications provider. CelcomDigi is co-owned by Axiata Group and Telenor Asia.
The research house said: “The sale of Edotco and Link Net at our estimates of fair value, totalling RM10.9bil, would lift our FY26 and FY27 core net profit estimates by 16.1% and 3.3%, respectively, assuming all proceeds are used to pay down debt at an interest rate of 3.5%.
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