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Thank you for joining us for Singtel's results for the Fourth Quarter and Full Year Ended 31st March 2018. Before getting into the results, I would like to highlight some upcoming changes in accounting standards effective from the next financial year. Results for this quarter and financial year are therefore not impacted by these changes. With effect from 1st of April, 2018, the group has adopted the Singapore Financial Reporting Standards International, #9, Financial Instruments, and #15, Revenue from Contracts with Customers. The group's results for the next financial year prepared under the new standards will be compared against restated 2018 financial year results. We do not expect the new standards to have a material impact on the group's net results.
The group delivered record earnings for the financial year boosted by exceptional gains of SGD 2 billion from the divestment of NetLink Trust and a strong core performance, despite heightened competition and erosion of traditional voice services across its markets, revenue and EBITDA rose on strong execution by Optus and the group's digital businesses. Optus gained market share underpinned by strong customer additions in mobile and fixed line, a validation of Optus' network and content strategy. The ICT and digital businesses recorded more than SGD 4 billion in annual revenues or 24% of the Group's revenue. Amobee turned EBITDA positive for the year. Contributions from the regional associates fell, primarily due to intense competition, and the impact of mobile termination rate cuts in India. Underlying net profit fell 8% with lower share of profits from Airtel and lower economic interests in NetLink Trust as well as higher depreciation and amortization on network and spectrum investments. Free cash flow rose 18% on strong operating cash flow and despite higher CapEx in Australia.
For the full year, foreign currency movements had minimal impact on the groups underlying net profit. For the quarter, underlying net profit was SGD 32 million or 3% lower due to the weaker Australian dollar, Indonesian rupiah and Philippine peso.
The group met its guidance for the financial year. For the 2018 financial year, the board has recommended a final ordinary dividend of SGD 10.7 per share, bringing total ordinary dividends to SGD 17.5. This represents 81% of underlying net profit above our dividend policy of 68% to 75% payout. Total dividend per share, including the special dividend paid in January, was SGD 20.5. While continuing competition in India may impact Airtel's profit contribution to the group in the short term, the impact on the group's cash flow and hence, dividend payment, is not expected to be significant. Barring unforeseen circumstances, we expect to maintain ordinary dividends at SGD 17.5 per share for the next 2 financial years, and thereafter, revert to the payout ratio of between 60% to 75% of the group's underlying net profit.
The group's financial position remains strong. Free cash flow for the year rose 18%, as favorable working capital movements and lower tax payments offset higher capital expenditure in Australia. Net debt declined SGD 564 million from a year ago, mainly due to proceeds from the divestment of NetLink Trust. Average maturity of borrowings was approximately 4 years.
For the quarter, the Group's revenue was stable on Optus' continued momentum and higher contribution from the digital businesses. However, overall profitability was impacted by significant headwinds, including intense competition, erosion of traditional voice services and adverse currency effects. EBITDA declined on lower NBN migration revenues due to the Australian government's temporary suspension of connections onto the NBN HFC access network. The quarter also saw lower earnings from Indonesia and India and the impact of our lower economic interest in NetLink Trust. Consequently, underlying net profit declined 18%.
Let me share some highlights for the fourth quarter. We topped the ASEAN Corporate Governance Scorecard for the Singapore Corporates for the fourth straight year.
Across the group, we are fostering an ecosystem to create digital services for our customers across the region. We are linking out mobile wallets across our markets. We also formed strategic partnerships in the areas of e-payments, e-sports and sports content. Our flagship store at Comcentre was relaunched with state-of-the-art innovation further bridging the online/offline experience for our customers. We secured broadcasting rights for all of the 2018 FIFA World Cup matches in Singapore and Australia. Football fans can now watch all matches anytime, anywhere through the Singtel TV GO and Optus sports apps.
Optus also secured exclusive Premier League rights for 3 more seasons, solidifying its position as a leading multimedia service provider. In February, Optus announced plans to kickstart its rollout of 5G technology in Australia by early 2019 with a fixed wireless product in key metro areas. Trustwave was recognized in the leaders quadrant in the Gartner report, the result of our investments in building Trustwave's capabilities.
We set up the world's first Global Telco Security Alliance jointly with Etisalat, SoftBank and TelefĂłnica. The alliance's global footprint and combined resources, including 22 SOCs and 6,000 security experts, will help us better serve enterprises that operate across transnational borders.
In another collaboration, Singtel and VMware are setting up a virtual sandbox for customers to test their innovations in a hybrid cloud environment. Innov8 joined forces within U.S. enterprise to launch ICE71, Singapore's first security hub to support development by start-ups, entrepreneurs and academics in the region.
Let me talk about the Singapore consumer business. In the quarter, we took advantage of premium handset launches to increase customer recontracting, strengthen customer relationships and reduce churn.
Around 18% of new and recontracting postpaid customers signed up for SIM-Only plans during the quarter. Mobile communications revenue fell, impacted by voice to data substitution, declines in roaming services and a higher mix of customers switching to SIM-Only plans. Home revenues declined with the cessation of Premier League sublicensing and lower fixed voice usage, partially mitigated by continued growth in broadband services. Overall revenue was lower by 4%, while EBITDA declined 14%.
In Australia, revenue increased 3% with higher equipment sales and a strong customer growth, offsetting lower NBN migration revenues as a result of the temporary suspension of connections on the NBN HFC access network. Mobile service revenue grew 1%, impacted by higher service credits associated with device repayments plans. Postpaid ARPU continues to be impacted by an increasing mix of SIM-Only plans, higher DRP credits and data price competition. Customer growth momentum continued with 86,000 new postpaid handset customers and 33,000 new prepaid handset customers. Mass market fixed revenue declined 9% due to lower NBN migration revenues. Excluding migration revenues, mass market fixed revenues grew 6%. Optus' NBN customer base rose 37,000 from a quarter ago, notwithstanding the suspension. EBITDA fell 5%, but would have been up 3%, excluding NBN migration revenues.
Our regional associates continue to ripe the growth in data. However, intense competition in India and Indonesia, adverse currency movements and high infrastructure investments led to a 25% decline in regional associates' profits. Excluding Airtel, regional associates' earnings declined 11%. In Indonesia, Telkomsel's earnings were impacted by declines in legacy services and heightened price competition particularly, during the SIM card registration period. It continues to leverage its network superiority and rising smartphone penetration to grow its digital business and spur data usage. In India, the telecom sector is rapidly consolidating against a backdrop of intense competition. Airtel added 15 million data customers, its highest quarterly net adds ever, while data usage grew by more than 6x. Revenue in India fell due to the impact of a reduction in mobile termination rates and severe price erosion. In April, Airtel also announced the merger of Indus Towers and Bharti Infratel Limited subject to regulatory and shareholder approvals. In Africa, Airtel continued its positive growth momentum, delivering record margin improvement and a fifth consecutive quarter of profits. In Thailand, AIS' profits grew 8% on revenue improvement and cost management. InTouch's earnings were further lifted by gains from Thaicom's sale of CS LoxInfo. In the Philippines, Globe registered strong earnings growth led by robust data revenue growth and cost control. Group enterprise revenue was stable in constant-currency terms, as growth in ICT revenues offset continued erosion of the carriage business. ICT services were boosted by strong contributions from cybersecurity and cloud services. For the financial year, our growth engines contributed SGD 1.1 billion in revenue, an increase of 15% over the previous year. The cybersecurity business rose 16% on the back of strong growth in managed security services and momentum in the Asia-Pacific region. We will continue to focus and grow our capabilities in these 2 areas. In Australia, Optus business maintained its growth momentum, driven by sustained growth in mobile revenue and major ICT contract wins. EBITDA was down 5% from the increased mix of lower margin ICT businesses, and price compression in traditional services as well as increased mobile retention costs, driven by higher connections.
In the quarter, GDL continues to make progress towards profitability. EBITDA was at breakeven, lifted by a number of one-off items. With this global scale and reach, Amobee's platform drove new customer wins, including leading international brands such as Del Monte, Heineken and Cisco. HOOQ was offered as part of Airtel's TV content suite, which helped drive strong customer additions in India. DataSpark's Mobility Intelligence solutions continues to gain traction in Australia, across retail, marketing and transportation sectors.
Let me wrap up with the group's guidance for the financial year ending March 2019. The following guidance is given on a constant-currency basis and based on the new Singapore Financial Reporting Standards from the 1st of April of 2018. Group revenue is expected to increase by low single digits and EBITDA to be stable. Capital expenditure is expected to be about SGD 2.2 billion on a cash and accrual basis. Free cash flow excluding spectrum payments and associates' dividends is expected to be around SGD 1.9 billion. Dividends from the regional associates are expected to be approximately SGD 1.4 billion. Revenue from the core business is expected to grow by low single digits and EBITDA to be stable. Australia mobile service revenue is projected to grow by low single digits, while Singapore mobile service revenue is expected to decline by mid-single digits. Group ICT revenue is expected to increase by mid-single digits. This includes cybersecurity revenues, which are projected to grow by the low teens. Amobee is projected to grow operating revenue by mid-teens and increase its EBITDA. And that concludes my presentation for this quarter and the full year. Thank you.