Astro CEO Euan Daryl Smith said the group has been reshaping its offerings to match customers’ demand.
PETALING JAYA: Astro Malaysia Holdings Bhd
’s operating profit slumped again as its annual revenue declined for the eighth consecutive year, dragged down by lower contributions from subscriptions and advertising.
The pay-TV operator reported yesterday that its total revenue from continuing operations fell by 8% year-on-year (y-o-y) to RM3.08bil for the financial year ended Jan 31, 2025 (FY25).
While both of its television (TV) and radio segments saw lower revenue in FY25, the TV segment returned to profitability.
Meanwhile, Astro’s operating profit declined by about 29% y-o-y in FY25.
However, lower finance costs and the absence of losses from discontinued operations boosted Astro’s net profit more than threefold to RM129.15mil.
Net financing costs decreased on the back of favourable unrealised foreign-exchange gains, arising from unhedged lease liabilities and lower amortisation of intangible assets.
Astro’s home shopping business ceased operations in October 2023.
Astro, which serves 5.3 million homes, or 65% of Malaysian TV households, did not declare a dividend for FY25.
Earnings per share were at 2.47 sen.
For the fourth quarter of FY25 (4Q25), Astro’s net profit tumbled by 76.3% y-o-y to RM10.49mil, while revenue also declined by 6.5% to RM766.41mil.
The TV segment’s 4Q25 revenue of RM716mil was lower by 6.7% y-o-y, mainly due to a drop in subscription and advertising revenue.
The radio segment’s revenue was slightly lower by 4.2% y-o-y at RM50.2mil, impacted by soft consumer sentiment and reduced advertising spend.
Despite the softer results, Astro group chief executive officer Euan Daryl Smith said the group has been reshaping its offerings to match customers’ demand.
“Pay TV gross customer additions are up 52% in FY25, our highest level in four years and marks the first time in over a decade that our Pay TV gross additions are trending up y-o-y.
“This contributed towards an 84% reduction in net video customer losses in FY25, a significant reversal that signals our strategies are starting to work.
“At the same time, I am pleased to see that sooka is now making waves as Malaysia’s fastest-growing over-the-top platform, with its VIP paying base doubling and monthly active users topping one million, according to data.AI,” he said in a statement.
Sooka is Astro’s streaming service.
