Half Year 2025 Safaricom Plc Earnings Call(Analyst and Investors) Transcript
Key Points
- Safaricom PLC (NAI:SCOM) reported strong financial performance in Kenya with double-digit growth in both top and bottom lines.
- The company achieved a 12.9% growth in service revenue, reaching KES177.5 billion for the half-year.
- Safaricom PLC (NAI:SCOM) has made significant progress in Ethiopia, with a 47.3% increase in customer base and strong mobile data usage.
- The company continues to innovate with new products, such as the revamped wealth proposition and insurance solutions, contributing to growth.
- Safaricom PLC (NAI:SCOM) is committed to sustainability, with efforts to achieve 95% of sites powered by green energy by 2030.
- Economic recovery in Kenya is fragile, with constrained fiscal space and declining disposable income affecting customer spending.
- The foreign exchange reforms in Ethiopia have led to a significant impact on financials, with a net income decline of 17.7% for the group.
- Operating costs have increased by 15.7% year-on-year, driven by higher energy consumption and payroll-related costs.
- The company faces challenges in Ethiopia due to the foreign exchange regime reforms, impacting short-term financial performance.
- There is a need to address customer concerns about data privacy and potential sharing of information with government entities.
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Good morning ladies and welcome to the half year financial results announcement for Safaricom PLC for the period ended 30 September, 2024.
On behalf of the Board of Directors, the management team and the staff of Safaricom PLC and Group. We thank you very much for joining us this morning personally and virtually for this event.
My name is Caroline Wambu. I serve as the head of Financial Planning Analysis and Investor Relations here at Safaricom and I will be your moderator for the day.
Should you like to keep your social media followers updated? Our hashtag today is Safaricom HSTS hashtag Safaricom HSTS and is now displayed on your screen in staying committed to our promise of diversity and inclusion. Our sign language interpreter today is Susan Ubba to kick us off. We will start with opening remarks by our Chairman Adil Kawan, followed by a presentation by Dr Peter Dgu, our Chief Executive Officer who will give a business overview, delving into our purpose and
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