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| Rudolph Muller | May 17, 2010 | No comments |
Rudolph Muller
Rudolph Muller is the editor at MyBroadband and covers telecoms and broadband news. Rudolph comes from an academic background, but left the University of...
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Vodacom’s SA subscriber base declined to 26.3 million, but broadband subscribers continue to grow
Vodacom today unveiled their financial results for the year ending 31 March 2010, showing revenue growth of 5.6% to R58 535 million, supported by a 31.9% increase in group mobile data revenue.
South African service revenue went up 7.5% to R44 166 million and EBITDA up 14.5% to R18 578 million, reflecting the increasing contribution of data revenue and success in containing operating costs.
Data revenue increased 32.8% to R4 363 million due to increased penetration of mobile PC connectivity and mobile internet usage, with data connectivity customers increasing 42.3% to 1.1 million and overall active data users increasing 29.1% to 6.2 million.
Overall SA customers declined 4.9% to 26.3 million as a result of a 1.9 million reduction in prepaid customers following the implementation of RICA. Contract customer growth remained strong, up 14.0% to 4.5 million.
Vodacom said that it continued to make substantial investments in the network over the last year, particularly to enhance quality and support the 58.4% growth in data traffic.
Capital expenditure of R4 573 million was largely allocated to adding a further 462 3G base stations, increasing base station capability to 14.4 Mbps across the network, completing the metro fibre rings and upgrading the radio network.
Vodacom added that it currently has 140 21.1 Mbps capable towers, the largest HSPA+ network in the country.
“The environment in which Vodacom operates is very different to that seen a few years ago, and I’m pleased that the steps we have taken to reshape and reposition the Group are evident in these results,” said Pieter Uys, Vodacom Group CEO.
“Customers in all of our markets have felt the effects of still fragile economic conditions and we have responded by increasing the value delivered to customers, made possible through cost containment measures taken across the Group. We reduced prices in all markets, expanded our data business and delivered strong growth in free cash flow. Our strengthened financial position supports an increase in our dividend payout to shareholders.”
Vodacom financial results << comments and views
