Telstra (ASX: TLS) targets total income of AUD 22.8-24.8bn in FY24

4 min read | May 20, 2024 03:10 PM AEST | By Team Kalkine Media

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Telstra (ASX: TLS) targets total income of AUD 22.8-24.8bn in FY24 — Image source: shutterstock

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Highlights

Telstra is an ASX-listed telecommunications provider which offers information and telecommunication services

In 1HFY24, total income of TLS jumped 1.2% YoY to AUD 11.7 billion and net profit after tax increased by 11.5% YoY to AUD 1 billion

State Street Global Advisors Australia Ltd. has the highest stake in TLS with a shareholding of nearly 4.22%

Telstra Limited (ASX: TLS) is an Australian telecommunications and technology company, with presence in over 20 countries. TLS provides approximately 3.4 million retail bundle and data services, and 22.5 million retail mobile services.

In the first half of the financial year 2024 (1HFY24), the company reported 1.2% YoY increase in the total income to AUD 11.7 billion, 3.8% YoY rise in EBITDA to AUD 4 billion, 12% YoY surge in earnings per share to 8.4 cents and 11.5% YoY growth in net profit after tax to AUD 1 billion.

The reported period saw continuous growth in the mobile, fixed consumer, small business fixed and infrastructure segments.

Top 10 shareholders of TLS

The top 10 shareholders of TLS have around 11.67% shareholding in the company, while the top four have approximately 8.61% shareholders. State Street Global Advisors Australia Ltd. and Vanguard Investments Australia Ltd. have the maximum stake in the company with a shareholding of ~4.22% and ~2.05%, respectively.

Recent business update

Through an ASX filing dated 16 May 2024, the company informed that State Street Corporation and its associated companies increased their voting power in TLS to 6.03% from 5.00%, as of 15 May 2024.

Outlook

In FY24, the company expects to deliver total income in the range of AUD 22.8–24.8 billion, underlying EBITDA in the range of AUD 8.2–8.3 billion, capital expenditure of AUD 3.6-3.7 billion and free cash flow after lease payments of AUD 2.8-3.2 billion.

The company is committed to undertake investments across the infrastructure and network to deliver reliability, connectivity and security to customers.

Share performance of TLS

TLS shares closed flat at AUD 3.67 apiece on 20 May 2024 with a market cap of AUD 42.40 billion. In the last one year, TLS’s share price has dropped by 16.02% and in the last three months, it has decreased by 5.90%.

The 52-week high of TLS is AUD 4.46, recorded on 21 July 2023, while the 52-week low is AUD 3.57, recorded on 3 May 2024.

TLS Daily Technical Chart, Source: EODHD/Others

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, and currency, is 20 May 2024. The reference data in this report has been partly sourced from EODHD/Others.

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