Singapore, 13 August 2026 – StarHub today announced its financial results for the six months ended 30 June 2026 (“1H2026”).
Excluding Ensign, Total Revenue and Service Revenue were $874.3 million and $744.4 million respectively. Earnings before interest, tax, depreciation and amortisation (“EBITDA”) stood at $158.6 million, in-line with the Group’s expectations. Following the termination of the Aggregate Assigned rights arrangement for a portion of the economic and equity interest in Ensign as announced on 15 April 2026, Ensign is now recognised as an associate.
Net profit attributable to shareholders (“NPAT”) was $258.1 million, attributable to a one-off gain from the termination of Aggregate Assigned Rights in Ensign.
Commenting on the results, Nikhil Eapen, Chief Executive, said “We are taking decisive action to strengthen StarHub in a challenging and highly competitive market. In Consumer, we are competing with greater precision across brands and customer segments; in Enterprise, our acceleration in year-on-year orderbook growth reaffirms our differentiated Modern Digital Infrastructure positioning against healthy demand. We are steadily reshaping our business through disciplined partnerships, cost base reset and the sharpening of capital allocation. The recent Ensign transaction has crystallised significant value and strengthened our financial flexibility, giving us greater capacity to pursue higher-return opportunities and build a more resilient, focused business.”
The Group is strengthening consumer scale and market position through targeted partnerships. Under the expanded partnership with MyRepublic announced on 6 August 2026, all MyRepublic 4G subscribers will move onto the StarHub network, expanding scale, reinforcing the Group’s multi-segment multi-brand strategy and further extending StarHub’s lead as Singapore’s clear number two mobile operator by revenue market share.
In Enterprise, StarHub is strengthening its position as a trusted digital infrastructure and solutions partner, with won orderbook in each of Regional Enterprise and Managed Services for 1H2026 increasing by approximately 49% and 52% respectively year-on-year. The stronger order book reflects healthy customer demand and provides improved revenue visibility as the Group focuses on converting contracted wins into recurring revenue while enhancing delivery and margin discipline.
StarHub continues to progress its strategic cost management programme across legacy decommissioning, network optimisation and automation, systems re-architecture and business simplification. The Group remains on track to deliver $70 million in annualised run-rate cost savings by the end of 2028. As of 30 June 2026, approximately 10% of the annualised savings have been achieved, with further benefits expected to be progressively realised over FY2027 and FY2028.
Dividend
The Group has declared an interim dividend of 3.0 cents per ordinary share for 1H2026 after considering short to mid-term business conditions, cash flow and ongoing investment requirements. StarHub has reiterated its dividend outlook of the higher of 6.0 cents per ordinary share for the full year or as per the Group’s dividend policy.
StarHub’s balance sheet remains healthy despite the softer operating environment, with cash balances of $515.7 million, positive free cash flow of S$40.6 million and a net debt to EBITDA ratio of 2.39x as at 30 June 2026.
Outlook
The operating environment is expected to remain competitive, particularly in the Consumer market. StarHub will continue to execute its strategy with discipline, preserve commercial flexibility and advance its structural cost initiatives to support earnings resilience.
In Enterprise, demand is shifting towards AI-enabled infrastructure, managed lifecycle services and platform integration, although higher technology infrastructure costs, tighter customer budgets, longer procurement cycles and AI-driven insourcing are moderating traditional application and infrastructure demand. The Group expects that these global sector trends could temper near-term revenue conversion from the order book. Against this backdrop, the Group will remain focused on margin-accretive growth, selective investment in network resilience, cybersecurity and differentiated customer propositions, while maintaining a disciplined approach to capital allocation and shareholder returns.
Based on the Group’s performance in 1H2026 and prevailing operating conditions, StarHub maintains its FY2026 financial outlook.
