Telkom 2020 Results

Telkom South Africa has revealed its interim results for the six months ending 30 September 2020. The telco was driven by a 19% increase in mobile subscribers – reaching 13.7 million – to claim the position of South Africa’s third mobile operator. Telkom delivered solid EBITDA growth despite a slight revenue decrease of 0.4% to R21.4 billion in the face of difficult trading conditions brought on by the COVID-19 pandemic. “Telkom’s decision to invest in infrastructure ahead of demand enabled us to meet the surge in demand and weather the acceleration of the decline in fixed voice revenue during the national lockdown,” says Sipho Maseko, Telkom Group CEO. Telkom Mobile expanded margin by 13.2 ptts to 29.9%, optimised direct cost to revenue ratio from 53% in the prior period to 38% and more t...