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Vodacom Group Limited preliminary results for the year ended 31 March 2012

Monday, 21 May 2012


Strong financial performance

Group service revenue up 7.8% (7.1%*)

Group EBITDA up 10.5% (11.4%*)

operating free cash flow up 14.1% to R16 934 million

Headline earnings per share (‘HEPS’) up 8.1% to 709 cents

54.3% increase in total dividend per share to 710 cents

Targeted activity underpins commercial success

Customers1 increased 29.9% to 47.8 million adding 11.0 million

48.6% increase in Group active data customers to 15.1 million

Number one in net promoter score (‘NPS’) in South Africa

Investment sustains network leadership advantage

Group capex increased 37.3% to R8 662 million

22.0% increase in number of 3G base stations

Radio equipment renewals underway in all operations

Demand for data services remains high in South Africa

Active data customers increased 35.4% to 12.2 million

55.4% increase in active smartphones on the network to 5.1 million

Data revenue growth of 23.6% to R7 639 million

International growth momentum continues

Service revenue up 27.5% (22.4%*)

EBITDA up 73.9% (71.7%*)

Active M-Pesa customers up 1.8 million to 3.1 million in Tanzania

Positive contribution to free cash flow

*Represents normalised growth excluding foreign exchange gains/losses and at a constant currency

1. Refer to note 3 for change in the basis of reporting customers

Pieter Uys, Vodacom Group CEO commented:

“Our first year of trading as the new red Vodacom has been a big success. Our customer base has expanded 30% to 48 million, we’ve invested R8.7 billion in our networks and we’ve achieved the number one net promoter score in South Africa and in two out of our three measured International markets. From a financial perspective, thanks to building the top line and also managing costs, EBITDA is up 11% and HEPS is up 8%.

Perhaps more importantly, we’ve seen strong delivery in the areas driving growth into the future – data and the International businesses. Combined, these accounted for 87% of the growth in Group service revenue. We added five million active data customers, taking the total to 15 million and supporting data revenue growth of 27%. The International customer base has now reached 19 million, an increase of 36%, and this segment has passed the important milestone of generating positive free cash flow.

Overall, the team delivered a very solid performance and the platforms for growth are well established. The 24% growth in Group free cash flow supported a higher dividend of 710 cents and helped us deliver a 45% total shareholder return.”


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