The JSE-listed Vodacom’s empowerment entity said it had swung to a basic loss per share of 2517c in 2019 from basic earnings per share of 3464c in the prior year.
The group posted an R898 million net loss, largely relating to the restructuring in which it moved from owning a portion of only Vodacom South Africa to owning a portion of total group operations, including assets in South Africa and the rest of Africa.
The company said that part of that loss was R282m it suffered from the decline of Vodacom group share price from R143 when the transaction was concluded to R111 at the end of March 2019. Vodacom issued more than 100 million shares as part of the R16.4 billion black economic empowerment (BEE) ownership transaction last year – the biggest BEE deal in the telecommunications sector.
Yebo Yethu said it recorded a basic loss a share of R25.17 (2517c) a share in 2019 from basic earnings a share of R34.64 (3464c) a share in 2018.