Telekom Networks Malawi Limited Releases 2015 Financial Results

The Directors of Telekom Networks Malawi Limited released the abridged financial results for the year ended 31 December 2015. Below are excerpts from the report:

Key achievements in 2015

• 17% growth in subscriber base
• Continued network quality improvement
• Lakeshore network expansion project of 27 additional sites
• Now closer to the customers with 24 outlets countrywide
• Voted best call center by the Chartered Institute of Customers Management
• Integration of Burco into TNM Business Services
Key financial highlights
• 24% growth in service revenue to MK 49,447 million
• 21% increase in EBITDA to MK 17,607 million
• EBITDA margin at 35%
• CAPEX investment additions of MK 12,027 million
• Net profit after taxation MK 5,414 million
• ARPU: MK 1,456
• Earnings per share: MK 0.54

The company achieved good subscriber and service revenue growth during 2015 which resulted in the continued margins and profitability levels. These achievements were supported by the successful expansion of the data network, increase in voice network coverage and cost management strategies.

The company continues to pursue its strategy to become the preferred ICT company in Malawi and focus on customer experience. The macro economic environment is expected to remain challenging putting pressure on margins and service revenue and management will continue to pursue cost efficiencies to protect margins.