Dialog Delivers Strong Growth, Stronger National Contribution in FY 2025

• Revenue: Rs179.6Bn, up 5% YTD; Core Revenue up 16% YTD
• EBITDA: Rs86.0Bn, up 30% YTD; EBITDA margin at 47.9% up 9.2pp YTD
• NPAT: Rs20.8Bn up 67% YTD
• Taxes Paid to GoSL: Rs54.7Bn (Rs11.1Bn in Direct, Rs43.6Bn Indirect)
• Capex: Rs20.2Bn; Operating Free Cash Flow (OFCF): Rs49.3Bn up >+100% YTD
• Recommended Dividend: Rs1.50 per share; Dividend Yield of 5%

Dialog Axiata PLC announced, Friday 6th February 2026, its consolidated financial results (Reviewed) for the year ended 31st December 2025. Financial results included those of Dialog Axiata PLC (the “Company”) and of the Dialog Axiata Group (the “Group”).

Group Performance

The Group delivered a strong performance across Mobile, Fixed Line and Digital Pay Television businesses recording a positive Core Revenue growth of 16% Year to Date (“YTD”). Group Headline Revenue reached Rs179.6Bn, up 5% YTD, despite the continued strategic scaling down of low-margin international wholesale business. In Q4 2025, Revenue was recorded at Rs46.5Bn up 2% Quarter-on-Quarter (“QoQ”) and 2% Year-on-Year (“YoY”).

The Group Earnings Before Interest, Tax, Depreciation and Amortisation (“EBITDA”) reached Rs86.0Bn up 30% YTD supported by Core Revenue performance and Cost Rescaling Initiatives. On a QoQ basis Group EBITDA demonstrated a modest growth to record at Rs23.0Bn up 2% QoQ with an EBITDA margin of 49.5% in line with the Revenue performance. Group EBITDA margin reached 47.9% for FY 2025, up 9.2pp.

Group Net Profit After Tax (“NPAT”) reached Rs20.8Bn for FY 2025, up 67% YTD mainly resulting from robust EBITDA growth, despite higher tax and net finance costs. Normalized for forex impact, NPAT growth was recorded at +>100% YTD to reach Rs22.1Bn. On a QoQ basis NPAT grew 3% to reach Rs5.9Bn resulting from strong EBITDA performance.

On the back of strong operational performance, the Group recorded Operating Free Cash Flow (“OFCF”) of Rs49.3Bn for FY 2025 up >100% YTD.

Dividend Payment to Shareholders

In line with the dividend policy and financial performance of the Group and taking into account the forward investment requirements to serve the nation's demand for Broadband and Digital services, the Board of Directors of Dialog Axiata PLC at its meeting held on 6th February 2026, resolved to propose for consideration by the Shareholders of the Company, a dividend to ordinary shareholders amounting to Rs1.50 per share. The said dividend, if approved by shareholders, would translate to a Dividend Yield of 5.0% based on share closing price for FY 2025. The dividend so proposed will be considered for approval by the shareholders at the Annual General Meeting (AGM) of the Company, the date pertaining to which would be notified in due course.

Company and Subsidiary Performance

At an entity level, Dialog Axiata PLC (the “Company”) continued to be the primary contributor to Group Revenue (76%) and Group EBITDA (74%). Aided by sustained growth in the Data segment and cost-rescaling initiatives, Company revenue was recorded at Rs135.8Bn for FY 2025, up 18% YTD, EBITDA rose 32% YTD to reach Rs63.6Bn. On a QoQ basis, Q4 2025 Revenue was recorded at Rs34.8Bn, down 1% QoQ due to a reclassification of Hubbing Revenue, while EBITDA decline 1% QoQ to record Rs17.0Bn, largely attributable to network restoration costs and donations made in relation to the Cyclone Ditwah relief efforts. Furthermore, NPAT was recorded at Rs15.6Bn for FY 2025, up 41% YTD. Normalised for forex impacts, the company NPAT was up +>100% YTD to reach Rs17.0Bn. On a QoQ basis, Company NPAT was recorded at Rs4.5Bn, down 6% QoQ.

Dialog Television (“DTV”) continued to consolidate its leadership in the digital pay-TV space, maintaining a subscriber base of over 1.6Mn as at end-FY2025. Revenue for FY2025 grew 4% YTD to record at Rs12.9Bn, while on a QoQ basis revenue declined 4% to reach Rs3.2Bn for Q4 2025, reflecting the seasonal advertising revenue uplift recorded in Q3 2025. DTV EBITDA was up 26% YTD to record at Rs2.7Bn for FY 2025, supported primarily by ongoing cost-rationalisation initiatives; however, DTV recorded a net loss of Rs0.7Bn for the year.

Dialog Broadband Networks (“DBN”) featuring the Group’s Fixed Telecommunications, Broadband and International Businesses recorded Revenue of Rs35.5Bn for FY 2025 down 28% YTD due to the conscious scaling down of low-margin international wholesale business amounting to Rs16.0Bn. Downstream of Revenue decline DBN EBITDA grew 29% YTD to reach Rs19.6Bn for FY 2025, with EBITDA margin improving 24.3pp to record at 55% for the year. NPAT reached Rs6.1Bn for the same period, up +>100% YTD, supported by a steep decline in costs.

Significant Contribution to State Revenue and Continued Investment in Digital Infrastructure

Dialog Group continued to be a notable contributor to state revenues, remitting a total of Rs54.7Bn to the Government of Sri Lanka (GoSL) during FY 2025. Total remittances included Direct Taxes and Levies amounting to Rs11.1Bn and Rs43.6Bn in Consumption Taxes collected on behalf of the GoSL.

The Group capital expenditure for the year ended 31st December 2025 reached Rs20.2Bn, resulting in a Capex to Revenue ratio of 11%. Capital expenditure was directed towards investments in High-Speed Broadband infrastructure to further expand the Group's leadership in Sri Lanka's Broadband sector.

Dialog Accelerates Sri Lanka’s 5G Future

Dialog commercially launched Dialog 5G Ultra, strengthening its leadership in next-generation connectivity with over 220 live sites and more than 1.5Mn subscribers already connected to the country’s largest 5G network. As the first operator to enable commercial 5G in Sri Lanka and the only provider with both 3500 MHz and 27 GHz spectrum, Dialog is uniquely positioned to deliver nationwide coverage, gigabit speeds, and advanced enterprise solutions. The Group plans to invest USD 100 million over the next two years to expand 5G connectivity.

Dialog Supports National Recovery Following Cyclone Ditwah

Dialog committed Rs420Mn to the Government’s Rebuilding Sri Lanka initiative to support recovery following Cyclone Ditwah. The contribution will fund the restoration of critical hospital infrastructure and refurbishment of ICT facilities in over 20 affected schools, strengthening healthcare access and digital learning in impacted regions. Dialog also supported over 8 million customers during the disaster through free connectivity services to maintain communication. This commitment builds on the Group’s long- standing role in national crisis response and underscores its continued focus on community resilience and sustainable national development.

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