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Pandemic-proof
Improving results
Dpu uptrend from 2.44c to 2.55c
Previous high of $1.03 was reached with a 2.53c dpu.
Let' s see how high Netlink can go with a 2.55c dpu.
Improving results
Dpu uptrend from 2.44c to 2.55c
Previous high of $1.03 was reached with a 2.53c dpu.
Let' s see how high Netlink can go with a 2.55c dpu.
Calmroom ( Date: 11-May-2021 19:04) Posted:
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Hi and thanks beetlejuice!
i' m a small retail so dare not say holding lots of Netlink.
Congrats to you too!
Hope you earn lots lots of kopi money!
i' m a small retail so dare not say holding lots of Netlink. Congrats to you too!
Hope you earn lots lots of kopi money!
beetlejuice ( Date: 11-May-2021 20:11) Posted:
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Wow, u must be holding lots lots of netlink.
Congrats :)
Profit after tax up by 21.4%!!! 
result today
long to enjoy
long to enjoy
Yeah, hi 5. :)
Calmroom ( Date: 30-Apr-2021 11:11) Posted:
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Ya, I do the same too.
I feel trading Netlink is low risk so I dare to buy quite a lot.
Then price no need up by much also can earn good profit.
Wow, smart to keep your IPO shares. Only 81c last time
and you already collected so much dpu so very very worth it!
I feel trading Netlink is low risk so I dare to buy quite a lot.
Then price no need up by much also can earn good profit.
Wow, smart to keep your IPO shares. Only 81c last time
and you already collected so much dpu so very very worth it!
beetlejuice ( Date: 30-Apr-2021 10:56) Posted:
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I buy at low $0.90s & sell at high $0.90s around 7000 to 8000 shares twice a year.
V easy kopi money.
Kept 3000 shares gotten from IPO till now.
IMO, this is a pure dividend share with organic growths... don' t think of sudden price up due to any news.
This share is so resilent that I would say it is as safe as putting in the bank (long term), and give a nice interest whereas bank gives you near nothing..
This share is so resilent that I would say it is as safe as putting in the bank (long term), and give a nice interest whereas bank gives you near nothing..
Moving up for dividends now.. catch it before too late.
Buy Netlink for its stable performance, results ' within expectations' : Analysts
Analysts from Maybank Kim Eng, UOB Kay Hian and CGS-CIMB Research have all maintained a &ldquo buy&rdquo call and their target prices on Netlink NBN Trust (NLT), citing its stable performance.
Target prices from Maybank KE, UOB KH and CGS-CIMB stand at $1.11, $1.08 and $1.10 respectively.
Netlink reported a 9MFY2021 EBITDA and PAT of $209.9 million and $69.5 million, compared to the 9MFY2020 figure of $202.6 million and $65.6 million.
The Trust revealed revenue for 9MFY2021 decreased marginally by S$1.5 million as compared to 9MFY2020, mainly due to lower installation-related revenue, but this was offset by higher residential, Non-Building Address Point (NBAP) and segment connections revenue.
CGS CIMB analyst Ong Kang Chuen said this was &ldquo in line with expectations&rdquo , and that it continued to see growth in all three types of fibre connections in 3QFY2021.
Ong elaborated that its residential segment reached 1.44 million connections in 3QFY2021, which is up 0.4% q-o-q, and 1.5% y-o-y as NLT reached more new homes and added connections to low-income households via initiatives such as IMDA&rsquo s Home Access programme.
Non-residential connections grew to 48,000, 0.8% higher q-o-q, 1.2% y-o-y, as NLT partnered with more telco companies to increase adoption of fibre broadband among SMEs through special promotions.
He highlighted that the non-building address point (NBAP) segment remained the fastest growth, rising 16% y-o-y, as NLT supplemented local telcos&rsquo rollout of 5G infrastructure.
As such, he expects resilient growth in fibre connections in 2021 as underlying trends continue.
UOB Kay Hian&rsquo s Chong Lee Len and Chloe Tan said the resilient performance suggests strong underlying demand for fibre services amid rising data consumption. &ldquo All in all, recurring revenue was higher, accounting for 83% of 3QFY21&rsquo s revenue.&rdquo they add.
Ong noted that NLT&rsquo s balance sheet remains robust, with gross debt/EBITDA at 2.5x and EBITDA interest cover at 14.2x in 3Q21.
He thinks that there remains significant debt headroom for NLT to fund future capex or acquisitions, and highlighted that &ldquo management continues to be on the lookout for M& A opportunities within the telecom infrastructure space, but said that it will proceed cautiously to prevent a significant change in risk profile of the company.&rdquo
Separately, Maybank Kim Eng&rsquo s Kareen Chan also agreed with the observations of NLT&rsquo s strong balance sheet, but she also said that it is keen to explore acquisitions in the telco- infrastructure sector of companies with utilities-like business models.
Chan added NetLink is comfortable to gear up to $1 billion for such acquisitions/ strategic investments, citing Singtel&rsquo s Optus towers as an example. However, &ldquo no specific target or country has been identified yet as NetLink is still in the initial stage of searching.&rdquo she says
She also noted NetLink&rsquo s workforce has returned to pre-Covid levels since Aug 2020, and that Its diversion and installation divisions would resume with the pickup in construction activities in Singapore.
This should also spur residential connections as NetLink continues to expand into new estate areas such as Tengah and Punggol.
no hope
NetLink NBN Trust posts 5.9% rise in net profit for nine months ended Dec 2020
NETLINK NBN Trust' s net profit was S$69.5 million for the nine months ended Dec 31, 2020, up 5.9 per cent from S$65.6 million in the corresponding period of the previous year.
NetLink NBN Management reported on Wednesday night that earnings before interest, taxes, depreciation and amortisation (Ebitda) improved 3.6 per cent to S$209.9 million from S$202.6 million a year ago. This included government relief grants and lower operation and maintenance costs.
Revenue edged down to S$276.3 million from S$277.8 million. Installation revenue fell by S$5 million, but was offset by higher residential, non-building address point (NBAP) and segment connections revenue.
Net cash from operating activities was S$202.9 million, or about S$11.8 million more than in the corresponding period of the previous year.
The number of residential connections stood at 1,443,032 as at Dec 31, 2020, up from 1,421,173 connections at the close of 2019.
Dividend shld be in today.
Netlink NBN Trust ' immune' to negative Covid-19 impact: Maybank Kim Eng
Maybank Kim Eng analyst Kareen Chan has maintained her &ldquo buy&rdquo recommendation and target price of $1.11 on Netlink NBN Trust as its distribution per unit (DPU) of 5.2% for FY2021e offers &ldquo clearer dividend visibility&rdquo than other yield plays.
This, Chan says, is due to 94% of Netlink&rsquo s 2QFY2021 revenue being secured by recurring cashflows, while 87% is under fixed regulatory pricing till the next review in end 2022.
&ldquo Its natural monopoly in the residential fibre connections segment will be driven by annual new household formation (10-year compound annual growth rate or CAGR of 1.7%) and higher broadband penetration rate of 94%,&rdquo says Chan. &ldquo Meanwhile, we expect the non-fibre segment to remain stable due to long-term contracts.&rdquo
Chan also expects Netlink&rsquo s diversion and installation divisions to normalise as its manpower capacity has normalised to pre-Covid-19 levels in 2QFY2021.
&ldquo That said, both divisions are unlikely to catch up on projects that was previously delayed. While the non-residential market appears well-served and competitive, we still expect growth of 1.7% CAGR through FY2021-2023E as NetLink starts new projects in schools and continues to improve presences in data centres,&rdquo she says.
Meanwhile, growth of Netlink&rsquo s residential division was capped by muted new connections due to Covid-19, but the segment should pick up once construction activity resumes, she notes.
To this end, Chan believes that Netlink&rsquo s DPU will be sustained despite headwinds.
&ldquo NetLink&rsquo s distributions have been stable and/or growing based on its historical track record. We forecast a higher cash distribution in FY2021e due to better-than-expected operating cash flow amid expanded EBITDA margins,&rdquo she says.
&ldquo NetLink is a domestic-yield play while waiting for Covid-19 re-opening to play out. Changes to its regulated returns (7% pre-tax weighted average cost of capital or WACC) is the key risk to our view, but we do not expect this till end 2022 (March FY2023),&rdquo she adds.
Good chance to continue uptrend after dividend ex-date.
5G play and hopefully price review of it services in this challenging environment due to the covid-19 pandemic.
NetLink Trust also deploys fibre to NBAPs, being locations in mainland Singapore or its connected islands other than a physical address or location with a postal code, such as roadside points, bus stops, traffic lights and multi-storey car parks. NBAP applications include fibre connectivity for telecommunications operators (such as wireless network base stations), surveillance cameras, sensors, outdoor digital signage, outdoor kiosks and ATM machines. NetLink Trust anticipates that the demand for NBAP services will continue to grow with the roll-out of Singapore&rsquo s Smart Nation programme, which aims to apply digital and smart technologies to improve citizens&rsquo lives in key domains.
5G play and hopefully price review of it services in this challenging environment due to the covid-19 pandemic.
NetLink Trust also deploys fibre to NBAPs, being locations in mainland Singapore or its connected islands other than a physical address or location with a postal code, such as roadside points, bus stops, traffic lights and multi-storey car parks. NBAP applications include fibre connectivity for telecommunications operators (such as wireless network base stations), surveillance cameras, sensors, outdoor digital signage, outdoor kiosks and ATM machines. NetLink Trust anticipates that the demand for NBAP services will continue to grow with the roll-out of Singapore&rsquo s Smart Nation programme, which aims to apply digital and smart technologies to improve citizens&rsquo lives in key domains.
Dividend $0.0253c
Ex-date:18Nov 20
Payable date:04Dec20
Lai Lai last day to buy to get 2.53c dividend.
&lsquo Buy' NetLink for resilient 1H21 earnings, fibre network potential: analysts
Following resilient earnings reported in 1HFY2021, four in five brokerages are recommending investors to accumulate units in NetLink NBN Trust (NetLink Trust).
On Nov 1, NetLink NBN Trust declared distribution per unit (DPU) of 2.53 cents for the 1HFY2021, up 0.4% from the 2.52 cents posted a year ago. The increased DPU comes on the back of 1HFY2021 earnings of $44.8 million, up 1.5% from the $44.1 million registered in 1HFY2020.
NLT designs, builds, owns and operates the fibre network infrastructure which is the foundation of Singapore&rsquo s Next Generation Nationwide Broadband Network.
See: NetLink NBN Trust declares 0.4% higher 1H DPU of 2.53 cents
CGS-CIMB, OCBC Investment Research, Maybank Kim Eng and UOB Kay Hian are all maintaining their &lsquo buy&rsquo or &lsquo add&rsquo calls on the company. Only DBS Group Research differ, maintaining &lsquo hold&rsquo on the company with a target price of $1.02.
&ldquo We are more conservative in our valuation,&rdquo says DBS Group Research analysts Sachin Mittal and Lim Rui Wen in a Nov 10 note. &ldquo We expect annual capex to hover between $55 to $60 million in the long term and any potential acquisition or rise in capex could be a positive surprise. Any reduction in regulatory WACC in the next review period could be a negative surprise.&rdquo
Mittal and Lim note that the 2QFY2021 results recorded a one-off tax surprise. &ldquo 2QFY2021 revenue $94.1 million (-2% y-o-y/ +4% q-o-q) and net profit at $21.3 million (-8% y-o-y/ -9% q-o-q) were broadly inline except for the tax deduction of $3.1 million.&rdquo
1HFY2021 revenue was lower by 2.5% y-o-y due to lower installation-related revenue, note the analysts. This is in comparison to FY2020, which saw Starhub customer migration contributing strongly to installation-related revenue. 2QFY2021 EBITDA margin improved to 75.4% (2Q19: 73.0%) due to higher proportion of revenue from residential connections and government relief grants received.
Covid-19 also impacted operations earlier this year. During the quarter, lower availability of contractors affected diversion revenue due to stoppages of works nationwide, while ducts and manholes revenue saw lower completion of joint projects with requesting licensees and reduction of leasing revenue from NetLink Trust&rsquo s ducts. Diversion revenue will continue to be spread over the next six to nine months as some construction works are being pushed back, say Mittal and Lim.
More optimistic are OCBC Investment Research, Maybank Kim Eng and UOB Kay Hian, who recommend &lsquo buy&rsquo with target prices $1.10, $1.11 and $1.08 respectively. CGS-CIMB is recommending &lsquo add&rsquo with a target price of $1.10.
CGS-CIMB analyst Ong Khang Chuen notes that NLT continued to see growth in all three types of fibre connections, and we believe the current growth trajectory is sustainable. Its residential segment reached 1.44 million connections in 2QFY21 (+0.6% q-o-q, +1.9% y-o-y) as NLT reached more new homes and added connections to low-income households via initiatives such as IMDA&rsquo s Home Access programme.
Non-residential connections resumed growth to 476,000 (+1.3% q-o-q, +1.8% q-o-q) after a dip in 1QFY21, which saw the circuit breaker impacting new additions. The non-building address point (NBAP) segment saw the fastest connection growth to 1,847 (+4.2% q-o-q, +17.7% y-o-y) as NLT supplemented local telcos&rsquo rollout of 5G infrastructure, he adds.
In its investment thesis on NetLink Trust, OCBC Investment Research analysts note the growing prominence and potential of the company. &ldquo With the increasing usage of fibre broadband services for day-to-day activities driven by growing demand for connectivity and rapid broad-based growth in data consumption, we believe NLT NBN has a resilient business model, and hence able to weather through various economic cycles given the defensive nature of its income streams.&rdquo
&ldquo Furthermore, we expect NLT NBN to be a key participant of growth in other connected services within the non-residential and NBAP space, especially with Singapore&rsquo s push to transform into a digital economy.&rdquo
Hmm got potential with 5% yield. Can just pass lah