Saturday, 17 April, 2021


Vodacom Attracts 8.4 Million Customers in 2018

Vodacom Attracts 8.4 Million Customers in 2018 Vodacom Attracts 8.4 Million Customers in 2018
Bennie Garza | 14 May, 2018, 20:12

"Net profit increased 18.6%, boosted by the Safaricom acquisition and by the profit from the sale of Helios Towers Tanzania Limited".

"ARPU was also impacted by changes in deal structures in the first half of the year, and a reduction of the out-of-bundle data rates in October 2017", said Joosub. But issuing 233.5-million new shares to United Kingdom parent Vodafone to pay for its 35% of Safaricom resulted in Vodacom's headline earnings per share (HEPS) remaining flat at R9.23.

Revenue climbed to R86.37 billion from R81.28 billion in the previous year, while group service revenue rose 3.4 percent to R70.63 billion ($5.76 billion).

However, South Africa's biggest mobile phone operator said full-year revenue rose 6.3 percent to 86.37 billion rand ($7 billion), as it added more customers and sold more smartphones in its domestic market.

The four worldwide operations added a total of 2.5 million customers for the year, up 8.6% to 32.2 million.

Safaricom added 1,4-million customers.

"Safaricom contributed R1.5bn profit for the eight months since acquisition, after deducting the amortisation of fair valued assets and before minority interest", Vodacom said in its results statement, which was released on Monday morning.

The group invested ZAR 11.6 billion during the year to expand coverage and improve network quality, including ZAR 8.9 billion in South Africa.

Vodacom, like all major mobile operators in South Africa, has come under pressure of late from consumer groups and ICASA.

The company declared a final dividend a share of 425c.

"This was a solid achievement given the revenue impact from reducing out-of-bundle data prices by as much as 50% in October a year ago as well as the early phase investments in new revenue streams, including fibre, content propositions and financial services".

Service revenue growth from fixed services increased 55.6%.

Customers using bundles have grown 13.9% to 18.7 million.

Vodacom grew its SA customer base by 12%, to a total of 41.6 million.

Enterprise service revenue grew 10,8% now contributing 25,7% of service revenue.

"In our worldwide operations, it was a particularly pleasing year for Mozambique and Lesotho, while our commercial actions in Tanzania and DRC continue to show good momentum", said Joosub. Safaricom added 1.4 million customers to push the combined total to over 103-million customers. In addition, Safaricom showed impressive results processing $6.5 billion worth of transactions for the year.

"Looking ahead, we are encouraged by the renewed economic and political stability in South Africa and larger global operations, including Kenya".

"We are encouraged by these developments and are reaffirming our three year targets of mid-single digit service revenue growth, mid-to-high single digit EBIT growth and capital intensity of 12% - 14% of group revenue, to build on this momentum", he said. Stability in foreign exchange and macroeconomic environments benefits our operations and is expected to support more predictable results across our operations.

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