Astro Malaysia Holdings Berhad | Result highlights for the second quarter of the financial year ended 31 January 2021 [All comparisons refer to the first quarter of FY21 (Q1FY21): quarter-on-quarter (q-o-q) comparison, except as noted]:

Tun Zaki Azmi, Chairman of Astro, said: “With the gradual restarting of economic activities, we saw encouraging signs of recovery in the second quarter. Astro’s balance sheet remained strong as it continued to be cash generative, cost disciplined and proactive in its capital management. Despite this, we remain prudent in view of the uncertainties arising from the pandemic. Nevertheless, the Board has declared a higher dividend of 1.5 sen in Q2FY21 (Q1FY21: 1 sen per share).”

Henry Tan, Group Chief Executive Officer of Astro said: “Playing our role as a responsible corporate citizen, we acted quickly amid the challenging operating environment to serve our customers and nation as well as to ensure the well-being of our employees. We delayed several initiatives including upselling, installations and production of live reality shows. Go Shop pivoted to offer fresh and frozen food and saw record performance. The Q2FY21 results included the full effect of the one-off Sports Pack rebate given to our loyal Sports customers. We believed this was the right thing to do - providing access to other content and compensating for the absence of live sports.”

“Operations are now close to full capacity. Installations have resumed and we see the Astro Ultra Box continuing its growth trajectory, with over 100k boxes installed, up 60% over 3 months. Customers payment trend is also encouraging, and local productions, global live sports and onground events are resuming.”

Key Highlights:


Outlook


“Astro remains cautious in the second half of FY21 due to prevailing uncertainties amid the pandemic, structural changes in the media industry and the ongoing acts of piracy. We are mindful of the potential impact on consumers’ disposable income and sentiments when the loan moratorium ends. We will continue to support our commercial customers, who are still affected by the ongoing RMCO.”

“The Group’s agility in adapting to the new normal has allowed us to deepen our engagement with customers, strengthen our value proposition and seize opportunities for adjacencies in commerce, broadband, digital and OTT. We are committed to be the Entertainment Destination for Malaysians and will drive digital, aggregate more streaming OTT services, push broadband bundles, produce more winning and compelling content whilst simplifying our products, packages and processes.” Tan said.