CAMGSM PLC Q3 Report of Financial Year 2023 reveals healthy performance and financial position. | Cellcard

CAMGSM PLC Q3 Report of Financial Year 2023 reveals healthy performance and financial position.

Published Date: November, Wednesday 15, 2023

CAMGSM PLC, a leading mobile operator in Cambodia, has disclosed its Q3 Report for the Financial Year 2023, showing an increase in its profit compared to the same period last year.

The report highlights the company’s strong performance in its operating profit, profit before income tax, and total comprehensive income.

Compared to Q3-2022, the company reports an increase of 7,769 million Riels or 14% in Operating Profit, an increase of 1,342 million Riels or 3% in its Profit before income tax, and an increase of 1,075 million Riels or 3% in its Total Comprehensive income.

Total reported revenue for CAMGSM PLC sits at 186,093 million Riels in Q3-2023 with net profit reaching 42,930 million Riels — an increase of 3% year-on-year compared to the net profit of 41,660 million Riels in the same quarter of 2022.

The company attributed its success to its continuous initiatives to optimize operating costs, whilst retaining a strong focus on uplifting network quality and coverage as part of its 2023 business turnaround strategy.

“Q3 2023 was another intense period for CAMGSM. On 8 August 2023, CAMGSM made a significant closure of the financing it arranged in January 2011 with the banking consortium led by the Bank of China Limited for the original acquisition of Millicom’s 61.5% shareholding of CAMGSM.

In 2011, this debt funding was the largest financing undertaken in Cambodia. Since 2009, CAMGSM has repaid to the banking consortium the principal of US$421 million plus US$302 million in interest payments which totaled US$723 million. These successful repayments have shown commitment to repay the foreign financings.

The Bank of China facility which has amortized to US$111.5 million is now refinanced by Malayan Banking Berhad, Singapore Branch, Maybank (Cambodia) Plc, and Canadia Bank Plc. The new financing provides CAMGSM with a lower overall cost and a longer tenure. It will assist CAMGSM to increase its capital investment into its network coverage and capacity.

On September 28, 2023, CAMGSM received approval in principle from CSX for its sustainability bond listing eligibility. This approval will make CAMGSM the first issuer of a sustainability bond in Cambodia, marking a historic moment for both CAMGSM and the Cambodian capital market.“

— CAMGSM PLC Chairman, Neak Oknha Kith Meng.

As of September 30, 2023, the company’s total assets amount to 2,596,364 million Riels, with total equity amounting to 920,452 million Riels — an increase of 20% compared with 768,348 million Riels in 2022.

The ‘Third Quarterly Report of Financial Year 2023’, disclosed on 15 November 2023 provides an overview of the operational and financial results based on Interim Financial Statements as of 30 September 2023 reviewed by an Independent Auditor. The Interim Financial Statements had been prepared in accordance with Cambodian International Financial Reporting Standard ‘’CIFRS’’.

The full report is available at the Cambodia Stock Exchange website ( http://csx.com.kh/ )

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