Vodacom sees massive subscriber growth in South Africa

Vodacom has released its financial results for the year ended 31 March 2017.

The results show that group service revenue was up 2.3%, while South Africa’s service revenue increased 5.6%.

The improvement in local service revenue was contributed to by the net addition of 3 million customers, said Vodacom.

Vodacom South Africa now has 37.1 million customers, up from 34.1 million in 2016. Its customer base now consists of:

  • Prepaid – 32 million
  • Contract – 5.1 million

Vodacom’s Group’s international service revenue declined by 5.6%, while Group data revenue was up 16.4% – supported by a strategy of data network investment and device migration.

“Group EBITDA grew 2.9% to R31.2 billion, with margins improving by 0.5ppts to 38.4%,” said Vodacom.

Vodacom also spent R11.2 billion on capital expenditure, with a focus on data expansion and IT, in the period.

Headline earnings per share are up 4.5% to 923 cents per share.

Now read: The 10 most-attractive tech employers in South Africa

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Vodacom sees massive subscriber growth in South Africa