Morningstar - M1 Limited (B2F) M1 2Q18 Gaining Mobile Market Share but Wary Ahead of New Entrant Launch in the 2H

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Morningstar

Dan Baker

EUR 100.00 For Business Accounts Only

M1 2Q18 Gaining Mobile Market Share but Wary Ahead of New Entrant Launch in the 2H

We saw nothing in M1's second-quarter result to change our view that M1 will be the most exposed Singapore operator to TPG entering the mobile market in 2018 given it has fewer bundled customers than its rivals, StarHub and SingTel and around three fourths of its service revenue is from mobile services. The result itself was slightly ahead of our expectations with services revenue up 5.2% year on year, EBITDA up 1.4%, and earnings per share up 2.6%. Mobile service revenue grew 3.8%, continuing t...

30/07/2018 13 EN

Underlying

M1 Limited

M1 is a communications company, providing mobile and fixed services to customers. Co. is an operator that provide fourth generation (4G) service, as well as fixed broadband, fixed voice and other services on the Next Generation Nationwide Broadband Network. Co. and its subsidiaries are engaged in the provision of telecommunications services, international call services and fixed services, retail sales of telecommunication equipment and accessories, and customer services. Co. makes available to its mobile and fixed-line customers International Direct Dial services through the 002 and 021 prefixes, as well as a International Calling Card service using prefix 1818.

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SG1U89935555 Singapore

Provider

Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

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Analysts

Dan Baker

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M1 2Q18 Gaining Mobile Market Share but Wary Ahead of New Entrant Launch in the 2H

M1 LTD. sees an upgrade to Slightly Positive due to a better fundamental star rating

Morningstar | M1's Full-Year Result Largely Irrelevant; Still Likely to Be Taken Private at SGD 2.06 per Share

Morningstar | M1's Full-Year Result Largely Irrelevant; Still Likely to Be Taken Private at SGD 2.06 per Share. See Updated Analyst Note from 29 Jan 2019

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

Sasol Provides Full-Year Production Update

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