Despite a difficult economic climate characterised by market disruptions, high inflation, and reduced consumer purchasing power, Robi has managed to deliver consistent value to its shareholders and customers.
By focusing on operational efficiency and strategic investments, the company ended 2024 with a revenue of Tk9,950.2 crore, reflecting a slight 0.1% increase from the previous year, said a press release.
The year saw mixed results across its key revenue streams. Voice revenue grew by 0.7%, while data revenue saw a modest increase of 2.2% year-on-year. However, the quarterly comparison revealed some volatility.
Compared to Q3’24, voice revenue dropped by 8.4%, while data revenue saw a negligible increase of 0.1%. In Q4’24, voice revenue rose by 1.7% compared to the same quarter in 2023, but data revenue experienced a notable decline of 13.9%.
This drop was largely attributed to intense market pressure to lower data prices, coupled with the impact of high inflation on consumer purchasing power.
The imposition of an increased SIM tax from Tk200 to Tk300 in 2024 presented an additional challenge for subscriber acquisition.
Furthermore, aggressive pricing strategies from competitors contributed to a decline in Robi’s subscriber base, which fell by approximately two million, ending the year with 56.7 million active subscribers. Internet subscribers decreased by 2.1 million to 42.6 million, although the company successfully added over 500,000 4G users, bringing the total to over 63% of its active subscribers.
Robi also maintained its extensive network of 18,000 4G sites, ensuring coverage for 98.96% of the population.
Despite these challenges, Robi posted a strong performance in terms of profitability. Its Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) grew by 10.5% year-on-year, reaching Tk5,081.6 crore.
The EBITDA margin improved by 4.8 percentage points, now standing at 51.1%. Although there was a quarter-on-quarter decline of 3.1%, the company saw a slight 0.5% increase in Q4’24 compared to the same period last year.
Robi’s capital expenditure (capex) for 2024 was substantial, amounting to Tk1,638.4 crore, including Tk446.1 crore in Q4’24. The company’s contributions to the national exchequer were significant, reaching Tk6,287.3 crore for the year, which accounted for 63.2% of its annual revenue. In Q4’24 alone, 70% of revenue was paid to the government.
The company’s profit after tax (PAT) stood at Tk703 crore for the year, with Q4’24 contributing Tk299.9 crore. Earnings per share (EPS) for 2024 were Tk1.34, while the Q4’24 EPS showed impressive growth, rising by 59% quarter-on-quarter and 102% year-on-year. As a result, the Board of Directors has recommended a cash dividend of 15% (Tk1.50 per share), amounting to 111.8% of the PAT for 2024. This decision was confirmed at the Board Meeting held on 17 February 2025. Robi’s 29th Annual General Meeting is scheduled for 21 April 2024.
Acting CEO M Riyaaz Rasheed commented on the company’s performance: “Our primary focus remains on delivering long-term value to our shareholders and ensuring sustainable growth.
While we continue to navigate a dynamic market, our commitment to operational efficiency and investment in digital infrastructure positions us well for the future.
It is essential that regulatory and taxation policies support a balanced and competitive telecom sector to allow operators like Robi to thrive.”
Rasheed also expressed optimism regarding recent regulatory reforms aimed at streamlining the telecom sector, calling for swift implementation to maximise benefits for consumers.
However, he raised concerns over the increase in supplementary duty from 15% to 20% and the higher SIM tax, which could pose challenges to Bangladesh’s efforts in advancing digital adoption and the qualitative use of digital services.
Despite the macroeconomic headwinds, Robi remains resolute in its commitment to delivering shareholder value, continuing to invest in infrastructure, and advocating for policies that foster sustainable growth in the telecom sector.
