INTEGRATED
Annual REPORT 2022

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We are axiata

Across ASEAN and South Asia, we harness digital technology, innovation and connectivity to advance inclusive and sustainable societies, enabling people and communities to thrive in a digitally connected world.

Advancing Every Asian

In progressing towards becoming The Next Generation Digital Champion, we are committed to bridging the digital divide by transforming the way people and businesses adapt and navigate in today’s accelerated digital landscape. So that no one is left behind in the digital age.

OUR VISION

The Next Generation Digital Champion

OUR PURPOSE

Advancing Asia

OUR VALUES

Uncompromising Integrity,
Exceptional Performance

Our Sustainability Framework

Our Sustainability Framework

Highlights of 2022

Revenue

RM27.5 billion

EBITDA

RM12.4 billion

PATAMI

RM9.8 billion

Mobile Customers

174.0 million

Boost’s All-in-one Fintech App Users:

10.4 million

Enterprise Businesses Served

~193,000 businesses

Employees

14,341

OUR 2022 HIGHLIGHTS

Watch Our 2022
Year In Review Video

OUR 2022 HIGHLIGHTS

Watch Our 2022 Year In Review Video

Highlights of 2022

Revenue

RM27.5 billion

EBITDA

RM12.4 billion

PATAMI

RM9.8 billion

Mobile Customers

174.0 million

Boost’s All-in-one Fintech App Users:

10.4 million

Enterprise Businesses Served

~193,000 businesses

Employees

14,341

Driving Value Across
Industries & Countries

As a leading digital and telecommunications conglomerate, we provide an extensive range of solutions across our Triple Core business verticals of Digital Telcos, Digital Businesses and Infrastructure.

Digital Telcos

Our Digital Telcos provide mobile, fixed and converged connectivity and solutions for Consumer, Home and Enterprise segments. We leverage digital ecosystems to offer smart solutions for our customers’ vastly changed communications requirements, empowering digital lifestyles.

DIGITAL BUSINESSES

From Boost, a full-spectrum fintech player poised to strengthen financial inclusion for the underserved with a digital bank license, to ADA, an integrated growth partner that empowers enterprises and brands through digital marketing and sales transformation, our Digital Businesses leverage intelligence, innovation and data analytics to drive the digital economy.

INFRASTRUCTURE

Our Infrastructure business provides end-to-end integrated telecommunications infrastructure solutions and services, keeping more people connected to the digital world. EDOTCO is the world’s sixth largest TowerCo, owning and managing over 58,000 towers across South and Southeast Asia.

USD9.5 billion contributed to national GDPs

USD1.5 billion in taxes and fees paid

Over 700,000 jobs supported throughout the region

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Driving Value Across
Industries & Countries

As a leading digital and telecommunications conglomerate, we provide an extensive range of solutions across our Triple Core business verticals of Digital Telcos, Digital Businesses and Infrastructure.

OUR BUSINESSES

OUR BUSINESSES

Our Digital Telcos provide mobile, fixed and converged connectivity and solutions for Consumer, Home and Enterprise segments. We leverage digital ecosystems to offer smart solutions for our customers’ vastly changed communications requirements, empowering digital lifestyles.

From Boost, a full-spectrum fintech player poised to strengthen financial inclusion for the underserved with a digital bank license, to ADA, an integrated growth partner that empowers enterprises and brands through digital marketing and sales transformation, our Digital Businesses leverage intelligence, innovation and data analytics to drive the digital economy.

Our Infrastructure business provides end-to-end integrated telecommunications infrastructure solutions and services, keeping more people connected to the digital world. EDOTCO is the world’s sixth largest TowerCo, owning and managing over 58,000 towers across South and Southeast Asia.

OUR REGIONAL PRESENCE

USD9.5

billion

contributed to national GDPs

USD1.5

billion

in taxes and fees paid

Over

700,000

jobs supported

throughout the region

Chairman’s Message

Building An
Inclusive Future

Building An Inclusive Future

Amidst considerable macroeconomic headwinds, we made commendable progress in our quest to drive sustainable business growth and build digitally-inclusive societies. Our Chairman, Tan Sri Shahril Ridza Ridzuan, outlines our key achievements in 2022.

Enhancing Our Resilience

We drove cost and operational efficiencies across the Group, navigating macroeconomic challenges to surpass our headline targets and enhance our resilience.

Expanding Our Regional Presence

Through strategic corporate exercises, we expanded our presence and opened new growth avenues across our Triple Core Businesses.

Evolving From Telco To TechCo

By harnessing synergies between each component within our value chain, we are translating our portfolio strengths into valuable returns, accelerating our transformation towards becoming a diversified technology company.

Driving Digital Trust And Resilience

Our cyber security and data privacy efforts led to significant improvements in our National Institute of Standards and Technology (NIST) and Privacy Maturity Level scores.

Bridging The Digital Divide

Our efforts to advance an inclusive digital economy and society have earned us an improved ranking of 22nd in the World Benchmarking Alliance’s Digital Inclusion Benchmark, which evaluates how the world’s 200 most influential digital technology companies are performing on digital inclusion.

TAN SRI SHAHRIL RIDZA RIDZUAN

Chairman of Axiata

CHAIRMAN’S MESSAGE

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In Conversation
With Our Group Chief Executive Officer

Creating
Sustainable Value

In Conversation With Our
Group Chief Executive Officer
AND MANAGING DIRECTOR

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Vivek Sood on our “de-layering” strategy

Creating Sustainable Value

Vivek Sood, our Group Chief Executive Officer and Managing Director, shares on our strong performance in 2022 and the strategies we have in place to deliver sustainable growth.

Establishing A Platform For Future Growth

Through strategic acquisitions and targeted investment in emerging opportunities across our core businesses, we are ideally positioned to deliver long-term value and complete our transition from pure-play telco to diversified, convergent technology business.

Completing The Celcom-Digi Merger

CelcomDigi serves 20 million customers, SMEs and large enterprises in Malaysia with a much-expanded network infrastructure, distribution reach and portfolio of products and services.

Completed The Joint Acquisition Of Link Net With XL Axiata

With Link Net, we gain access to a high-speed broadband and cable TV network that spans 3.1 million homes in 23 cities in Indonesia, unlocking synergies from shared network, customer base and complementary strengths.

Expanding Our Tower Footprint With EDOTCO

Through key acquisitions, EDOTCO made its first foray into Indonesia and is now the top tower company in the Philippines, marking strong progress on its goal to become a Top 5 Global TowerCo.

Accelerating Our Digital Transformation

Our LEAP programme is accelerating the adoption of AI and Machine Learning technologies across the Group, accelerating our progress towards becoming an agile, end-to-end digital service provider.

Embracing An Open Digital Architecture

With an open digital architecture, we can drive operational and cost efficiencies, enhance speed to market and stimulate collaboration with developers and ecosystem partners, illuminating new ways of monetising our technology assets.

Vivek Sood on our “de-layering” strategy

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our strategy

From Telco to TechCo

Guided by our Axiata 5.0 vision, our focus lies in building inclusive digital ecosystems that empower communities and businesses while enabling us to operate more efficiently and sustainably. To this end, we are strengthening our digital core, accelerating our ongoing journey from pure-play telco to holistic TechCo.

Axiata 5.0 Vision:
3 Core Pillars and 10 Key Focus Areas

Sustainable Growth

1.
positioning for new norms

Emerging as the winner among the gainers by optimising assets, accelerating digital and managing interfaces

2.
OpCos Transformation

Each OpCo to zero in on key focus areas to achieve long-term strategic objectives

3.
New Growth Areas

Capturing double digit growth in Enterprise, Home and Digital Value Added

Operational Excellence as Our DNA

4.
Cost Management

To be the lowest cost producer of data and deliver on our Customer Promise

5.
New Engagement Model

Transformation via the virtual centralisation of the Collective Brain

6.
Digitisation & Analytics

Leveraging on Data Analytics, AI and ML as a core differentiator

7.
Stakeholder Management

Greater focus on regulatory and sustainability matters and our role as nation building partners

8.
Organisation 5.0

Reimagining and refining evolving competencies

Structural Changes

9.
Industry Consolidation

Exploring Mergers and Acquisitions where opportunities arise

10.
Portfolio Optimisation & Value Illumination

Driving organic growth and identifying strategic inorganic transactions

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Axiata 5.0 Vision: 3 Core Pillars and
10 Key Focus Areas

Our Strategy

From Telco to TechCo

Guided by our Axiata 5.0 vision, our focus lies in building inclusive digital ecosystems that empower communities and businesses while enabling us to operate more efficiently and sustainably. To this end, we are strengthening our digital core, accelerating our ongoing journey from pure-play telco to holistic TechCo.

Axiata 5.0 Vision:

3 Core Pillars and 10 Key Focus Areas

Sustainable Growth

  1. positioning for new norms

    Emerging as the winner among the gainers by optimising assets, accelerating digital and managing interfaces

  1. OpCos transformation

    Each OpCo to zero in on key focus areas to achieve long-term strategic objectives

  1. new growth areas

    Capturing double digit growth in Enterprise, Home and Digital Value Added

Operational Excellence as Our DNA

  1. Cost Management

    To be the lowest cost producer of data and deliver on our Customer Promise

  1. New Engagement Model

    Transformation via the virtual centralisation of the Collective Brain

  1. Digitisation & Analytics

    Leveraging on Data Analytics, AI and ML as a core differentiator

  1. Stakeholder Management

    Greater focus on regulatory and sustainability matters and our role as nation building partners

  1. Organisation 5.0

    Reimagining and refining evolving competencies

Structural Changes

  1. Industry Consolidation

    Exploring Mergers and Acquisitions where opportunities arise

  1. Portfolio Optimisation &
    Value Illumination

    Driving organic growth and identifying strategic inorganic transactions

OUR DIGITISATION
JOURNEY

With a focus on five core areas – products and services, external customer interfaces, internal processes, infrastructure and platforms, and organisation and culture – we continued to make progress on our Group-wide digitisation journey in 2022.

Highlights and Outcomes of Our Journey

Initiatives

IT Transformation

Digitisation Programme – LEAP/DTM

AI Maturity Programme

Highlights

All of our OpCos have adopted TM Forum’s Open Digital Architecture and open API platforms, empowering improved internal IT and external partner/developer engagements.

Three of our OpCos - Robi, Dialog and XL Axiata – have reached the “Leading Digital Stage” in LEAP, while other OpCos have further improved their implementation of Artificial Intelligence (AI) and Machine Learning (ML) use cases.

Through their development of analytics and AI capabilities, our OpCos are able to focus on implementing high impact use cases across key business functions which can lead to revenue and operational excellence improvements.

Outcome

40% reduction in IT costs and improved Go-To-Market (GTM) speed

Estimated 2x increase in imputed savings across OpCos

AI Maturity improved to 64.4% while our AI Factory has been successfully operationalised

IT TransformatioN

Highlights

All of our OpCos have adopted TM Forum’s Open Digital Architecture and open API platforms, empowering improved internal IT and external partner/developer engagements.

Outcome

40% reduction in IT costs and improved Go-To-Market (GTM) speed

Digitisation Programme – LEAP/DTM

Highlights

Three of our OpCos - Robi, Dialog and XL Axiata – have reached the “Leading Digital Stage” in LEAP, while other OpCos have further improved their implementation of Artificial Intelligence (AI) and Machine Learning (ML) use cases.

Outcome

Estimated 2x increase in imputed savings across OpCos

AI Maturity Programme

Highlights

Through their development of analytics and AI capabilities, our OpCos are able to focus on implementing high impact use cases across key business functions which can lead to revenue and operational excellence improvements.

Outcome

AI Maturity improved to 64.4% while our AI Factory has been successfully operationalised

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HOW WE CREATE VALUE

Creating Value For All

Our Value Creation Model is hinged upon the six capitals of the Integrated <IR> Framework, towards achieving outcomes that holistically benefit our business and our stakeholders.

HOW WE CREATE VALUE

Creating Value For All

OUR SIX CAPITALS AND THEIR OUTCOMES

Our Value Creation Model is hinged upon the six capitals of the Integrated <IR> Framework, towards achieving outcomes that holistically benefit our business and our stakeholders.

OUR CAPITALS & OUTCOMES

Capital Input

OUTCOMES WHICH BENEFIT ALL

Funding and cash generation

  • RM1.7 billion in cost savings

  • 14.0 sen Dividend per Share (DPS)

  • Cash Balance of RM7.5 billion

For more outcomes, download the full report

Our diverse and driven workforce

  • More than 80 nationalities across the Group

  • 35% of leadership positions filled internally

  • 368 certified data analytics experts

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Brand equity and trust, culture, digitalisation and analytics

  • #1 in six markets in Digital Reputation Score

  • Implemented > 50 digitisation projects using Automation or AI technology

  • Recognised as one of the first three telcos globally to earn ‘Running on Open Digital Architecture (ODA)’ status by TM Forum

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Our valued key stakeholder relationships

  • EDOTCO impacted 14,537 lives through its social community investments

  • XL empowered > 200,000 women-owned MSMEs via Sisternet

  • Dialog developed the National Fuel Pass solution to help resolve Sri Lanka’s fuel crisis

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Network infrastructure, data centres, office buildings and workforce

  • Laut Nusantara improving livelihoods of fishermen with >57,500 active users

  • Dialog’s Govi Mithuru improving livelihoods of small holder farmers with 850,000 active users

  • Robi’s bdapps empowering digital entrepreneurs with >70,000 apps by > 48,000 developers

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Our energy consumption and land use

  • Rolled out the Axiata Net-Zero Carbon Roadmap

  • > 42,000 trees planted by EDOTCO

  • Optimising Group-wide energy consumption through energy efficiency initiatives and renewable energy sources

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our financial performance

A Solid Financial
Performance

Our FY2022 financial performance reflects our focus on operational performance and resilience, and the timely execution of strategic corporate exercises in line with our Axiata 5.0 Vision.

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Delivering In Spite Of Macroeconomic Headwinds

The Group delivered a solid financial performance and met customers’ digital needs in a rapidly changing operating environment, underscored by macroeconomic headwinds. We remained guided by the Axiata 5.0 Vision, 10 Key Focus Areas and three core pillars of Sustainable Growth, Operational Excellence and Structural Transformation.

VIVEK SOOD

Group Chief Executive Officer and
Managing Director of Axiata

OUR FINANCIAL PERFORMANCE

Our FY2022 financial performance reflects our focus on operational performance and resilience, and the timely execution of strategic corporate exercises in line with our Axiata 5.0 Vision.

Revenue

RM27.5b

↑up 6.2%

EBITDA

RM12.4b

↑up 9.0%

PAT

RM10.0b

↑up >100%

Normalised PATAMI

RM1.5b

↑up 15.3%

ROIC

-1.8%

FY2021: 5.3%

Customers

174.0m

Vivek Sood on our financial performance in 2022

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Governance

Enhancing Our Approach
To Governance

During the past year, we have taken firm steps to strengthen accountability, driving the continued trust of our stakeholders in the evolving digital landscape.

Establishing the Board
Sustainability
Committee

Leadership responsibility to oversee the Group’s sustainability efforts in meeting our ESG targets and objectives

Renewing the Corruption Free Pledge
with the Malaysian Anti-Corruption
Commission

Upholding our commitment to the highest levels of integrity and our zero-tolerance stance against bribery and corruption

Launching the Axiata Cyber
Fusion
Centre

Unlocking world-class cybersecurity capabilities for our network and assets while catalysing collaboration to enhance regional cyber resilience

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INTEGRATED ANNUAL REPORT 2022
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SUSTAINABILITY & NATIONAL CONTRIBUTION REPORT 2022
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GOVERNANCE AND AUDITED FINANCIAL STATEMENTS 2022
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This is an interactive digital version of the Axiata Integrated Annual Report 2022
The printable versions according to chapters are available in PDF format on this website.

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