Results for the year ended 31 December 2015

· Net profit after tax increased 1.5% to S$178.5 million

· Proposed final dividend of 8.3 cents

SINGAPORE, 18 January 2016 – M1 Limited (M1) today announced the unaudited group financial results for the year ended 31 December 2015.

Operating revenue for FY2015 increased 7.5% to S$1,157.2 million on higher handset sales. Service revenue decreased 1.1% to S$822.3 million, due to lower international call services revenue. Net profit after tax increased 1.5% to S$178.5 million.

Mobile data usage continued to grow, with revenue from mobile data for FY2015 increasing 10.7 percentage points year-on-year to 46.3% of service revenue.

Fixed services revenue for FY2015 grew 21.7% to S$85.9 million and now accounts for 10.4% of service revenue. The growth was mainly driven by a larger residential customer base and new contracts secured in the corporate segment.

“The entry of OTT content providers such as Netflix and Viu, offering a large library of on-demand content at low monthly subscription, will effectively unbundle content from access. This will further level the playing field,” said Ms Karen Kooi, Chief Executive Officer of M1.

As at end 2015, total customer base was 2.06 million. Postpaid customer base increased 46,000 year-on-year to 1.20 million, while prepaid customer base grew 30,000 to 733,000. During the year, the fibre customer base grew 25,000 to 128,000.

“Products and services are increasingly incorporating embedded sensors and connectivity. To capitalise on these opportunities, we will continue to develop our capability in data analytics with real-time feedback and leverage on our M2M Connect platform to deliver smart solutions for our customers,” added Ms Kooi.

Based on current economic outlook and barring unforeseen circumstances, M1 anticipates stable performance for the year 2016.

The Board of Directors has recommended a final dividend of 8.3 cents per share, taking full year payout to a total of 15.3 cents per share.