Telkom reports revenue decline and big EBITDA hit


Who's the Boss?
Staff member
May 24, 2010
Telkom takes a beating

Telkom has published interim results for the first half of its 2023 financial year (H1 FY2023), revealing a decline in operating revenue as its mobile and fixed service divisions struggled to perform.

Telkom Group CEO Serame Taukobong said the period from April 2022 to September 2022 was characterised by intensified competition and strained economic conditions placing consumers under pressure.
“Group performance suffered under a sluggish economy, the increasing electricity and fuel prices, rising interest rates cycle, and high unemployment, which constrained and impacted levels of consumer spending,” said Taukobong.

Vodacom and MTN seems to be doing just fine in the same macro economic environment...
Yesterday I received an SMS from Telkom saying "Fibre is now available in your area! We have partnered with Frogfoot..."
Like yea right, I am gonna cut over from my month-to-month with Cool Ideas, and go with your 24 month crap.
"Telkom is majority state-owned (55.3%) with the South African government owning 40.5% of Telkom, while another 14.8% is owned by another state-owned company - the Public Investment Corporation (PIC), which is closely linked to the South African government."

Suprised it lasted this long.

I guess it helps being listed on the JSE where people can see what a company is doing.
Finally the govt's shareholding has spread like the plague all over telkom, its all downhill from now