TPG Telecom Limited announced consolidated earnings results for the year ended July 31, 2018. For the year, the company announced revenue of AUD 2,495.2 million against AUD 2,490.7 million a year ago. EBITDA was AUD 841.1 million against AUD 890.8 million a year ago. Results from operating activities were AUD 598.2 million against AUD 646.4 million a year ago. Profit before income tax was AUD 563.8 million against AUD 595.5 million a year ago. Profit attributable to owners of the company was AUD 396.9 million against AUD 413.8 million a year ago. Basic and diluted earnings per share were 42.8 cents per share against 47.9 cents a year ago. Net cash from operating activities was AUD 673.8 million against AUD 722.7 million a year ago. Acquisition of property, plant and equipment was AUD 292.5 million against AUD 299.9 million a year ago. Acquisition of spectrum assets was AUD 597.3 million against AUD 199.8 million a year ago. Acquisition of other intangible assets was AUD 66.5 million against AUD 76.6 million a year ago. Net tangible asset backing per ordinary share 120.5 cents. Underlying NPAT was AUD 432.6 million against AUD 417.3 million a year ago. Net debt balance was AUD 1.27 billion.

For 2019, the company expects BAU CapEx, which, repeat, excludes company mobile build expenditure in Australia and Singapore, is expected to be in the range of AUD 180 million to AUD 220 million, substantially lower than the past 2 years primarily due to the CapEx incurred over the past 2 to 3 years to expand company fiber network for the VHA fiber contract. Forecasting EBITDA growth in the range of AUD 34 million to AUD 54 million in fiscal year 2019, but this will be offset by margin erosion from ongoing migration of DSL subscribers to NBN. Company forecasting these margin headwinds to be approximately AUD 50 million in fiscal year 2019 on the basis of an assumption that the overall decline in DSL subscribers is roughly the same in fiscal year 2018.