Dialog Posts Consistent Q3 and Strong YTD 2025 Performance

• Revenue: Rs133.1Bn, up 6% YTD; Core Revenue up 18% YTD
• EBITDA: Rs62.9Bn, up 40% YTD; EBITDA margin at 47.3% up 11.3pp YTD
• NPAT: Rs14.9Bn up over 100% YTD
• Taxes Paid to GoSL: Rs41.9Bn (Rs9.3Bn in Direct, Rs32.6Bn Indirect)
• Capex: Rs14.2Bn; OFCF: Rs37.1Bn up 90% YTD

Dialog Axiata PLC announced its consolidated financial results for the nine months ended 30th September 2025. Financial results included those of Dialog Axiata PLC (the “Company”) and of Dialog Axiata Group (the “Group”).

Group Performance

The Group recorded strong results across its Mobile, Fixed Line and Digital Pay Television businesses, achieving positive revenue growth of 6% year-to-date (“YTD”) to reach Rs133.1Bn for the first nine months of 2025. This was despite the continued strategic scaling down of low-margin international wholesale business. Core revenue for the period reached Rs 128.9Bn up 18% YTD. On a quarter-on-quarter (“QoQ”) basis, revenue increased 4% to Rs 45.7Bn, driven primarily by data revenue expansion.

Group Earnings Before Interest, Tax, Depreciation and Amortisation (“EBITDA”) recorded a growth of 40% YTD to Rs62.9Bn in 2025, with EBITDA growing by 8% QoQ to Rs22.5Bn. The strong performance reflects both revenue growth and operational efficiencies. The EBITDA margin improved by 11.3 percentage points compared to the same period in 2024, reaching 47.3%, marking a significant recovery and surpassing pre-crisis margin levels.

Group Net Profit After Tax (“NPAT”) was recorded at Rs14.9Bn in 2025, more than doubling YTD. QoQ NPAT grew by 12% to Rs5.7Bn, supported by improved EBITDA. In line with improved operational performance, Operating Free Cash Flow (“OFCF”) improved by 92% YTD to Rs37.1Bn.

Company and Subsidiary Performance

At the entity level, Dialog Axiata PLC (the “Company”) continued to account for a substantial share of Group performance, contributing 76% of Group Revenue and 74% of Group EBITDA. Company revenue reached Rs100.1Bn for YTD 2025 and Rs35.0Bn for Q3 2025, up 22% YTD and 4% QoQ, driven by growth in Data and Voice segments. Profitability improved significantly, with Company EBITDA rising to Rs46.5Bn for YTD 2025 and Rs17.0Bn for Q3 2025, up 53% YTD and 11% QoQ. Supported by this EBITDA performance, Company NPAT was recorded at Rs11.3Bn for YTD 2025 and Rs4.4Bn for Q3 2025, reflecting over 4x growth YTD and 10% QoQ.

Dialog Television (“DTV”) consolidated its leadership position in the Digital Pay Television market, maintaining a subscriber base of over 1.6Mn as of end-September 2025. DTV revenue reached Rs9.7Bn for YTD 2025 and Rs3.3Bn for Q3 2025, up 8% YTD and 2% QoQ. Growth was supported by higher Subscription and Advertising revenues. DTV EBITDA grew 37% YTD to Rs2.0Bn for YTD 2025; however, NPAT was recorded at a negative Rs0.5Bn for the period improving 29% YTD.

Dialog Broadband Networks (“DBN”), encompassing the Group’s Fixed Telecommunications, Broadband, and International Businesses, posted revenue of Rs25.9Bn for YTD 2025 and Rs8.5Bn for Q3 2025, down 32% YTD and up 2% QoQ. This YTD decline was primarily due to the scaling down of low-margin international wholesale operations. Nevertheless, DBN EBITDA increased 15% YTD to Rs14.4Bn for YTD 2025, driven by growth in Broadband business. NPAT recorded a growth of 51% YTD to Rs4.3Bn.

Significant Contribution to State Revenue and Continued Investment in Digital Infrastructure

Dialog Group remained a major contributor to national revenue, remitting Rs41.9Bn to the Government of Sri Lanka (“GoSL”) YTD 2025. This comprised Rs9.3Bn in Direct Taxes and Levies, and Rs32.6Bn in Consumption Taxes collected on behalf of the GoSL.

The Group continued to invest in broadband and ICT infrastructure to ensure seamless customer experience and maintain market leadership. Capital expenditure on digital infrastructure amounted to Rs14.2Bn for the first nine months of 2025.

Dialog 5G Ready: Trials Expand Nationwide

Dialog has expanded its 5G trial network to cover 15 districts across Sri Lanka, reaffirming its leadership in next-generation connectivity and its commitment to advancing the nation’s digital transformation. With this expansion, Dialog continues to operate Sri Lanka’s largest 5G trial network, providing extensive coverage across all regions of the country.

The Telecommunications Regulatory Commission of Sri Lanka (TRCSL) has recently announced that the 5G spectrum auction will take place towards the end of the year, marking a key milestone in enabling the nationwide commercial rollout of 5G services.

Completion of Airtel Integration

Following the merger announcement in July 2024, Airtel’s integration was completed seamlessly, with network integration achieved within just 100 days and full IT integration finalized by July 2025. The process, executed entirely in-house, delivered early operational synergies with no loss of revenue or customers.

Dialog Honoured with Multiple National Accolades

In Q3 2025, Dialog was honoured with three prestigious titles at LMD’s Awards Night 2025, recognizing the company’s continued market leadership, brand excellence, and unwavering commitment to delivering superior service experiences while fostering meaningful relationships with Sri Lankan consumers and businesses alike. The accolades included recognition as Sri Lanka’s No. 1 Service Brand for both 2024 and 2025, as well as recognition as one of the nation’s leading corporate brands in 2025.

Further reaffirming its leadership in corporate responsibility, Dialog also received the National Award for “Best DEI Initiative” at the DEI Champions Awards 2025, organized by the Ceylon Chamber of Commerce. This honour underscores the company’s long-standing commitment to cultivating an inclusive workplace where every individual is valued, supported, and empowered to thrive.

More details are available at the following links:
Dialog Axiata PLC direct weblink
CSE direct weblink
Dialog sustainability