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Telkom rings in lacklustre annual results

The company logo seen on the Telkom City Offices in Cape Town, South Africa. image, Bloomberg.

The company logo seen on the Telkom City Offices in Cape Town, South Africa. image, Bloomberg.

Published Jun 14, 2022

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Mobile operator Telkom's annual financial results for the year ended March 3, 2022 , were lacklustre with its revenue down and flat earnings.

Group revenue was down 1.1 percent to R42.8 billion, while its underlying headline earnings per share increased 2.5 percent to 575.3 cents. Underlying Ebitda was flat at 0.5 percent, a decrease to R11.9bn.

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Openserve increased fixed data revenue by 5.5 percent largely driven by the growth in carrier links. Over the period, an increase of 16.6 percent in fixed data consumption was seen across the network, with an increase of 52.7 percent in the number of homes passed at a connectivity rate of 46.3 percent.

Telkom Group CEO, Serame Taukobong, said during the reporting period Telkom’s strategy was to accelerate its fibre to the home footprint, while focusing on connecting homes.

“In the second half of the year, overall fixed broadband subscribers increased for the first time in several years despite the decline in ADSL subscribers,” said Taukobong.

Telkom Mobile increased its customer base by 10.5 percent to 16.9 million subscribers with 62.9 percent of the base using broadband services. Mobile base stations increased by 13.7 percent with 42.4 percent growth in 4 5G sites, reflecting Telkom’s preparedness for 5G deployment.

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