ECO.zw | Abridged results and presentation for FY ended 28 Feb 18
Above pic: Douglas Mboweni (Chief Executive Officer) presenting at the recently held analysts briefing
Chairman’s Statement to the Shareholders
Econet has maintained its position as the leader in mobile telecommunications in Zimbabwe, fulfilling the promise made 20 years ago to provide world-class telecommunications to all the people of Zimbabwe. We celebrate this significant milestone by presenting these results which show just how far we have come. This journey has seen us evolve from being a mobile voice telephony operator to become a fully-converged Telecommunications, Media and Technology (“TMT”) business that touches the lives of all Zimbabweans.
We continued remodelling and optimising the business to enhance shareholder value. Austerity measures that we started implementing in 2015 have yielded exceptional results, resulting in the improvement of our margins. The EBITDA margin firmed to close the year at 41%, an increase from 36% in the previous year. Our revenue increased to US$ 832 million, largely driven by strong performance across all subsidiaries. The debt to equity ratio of the Group is now 8% against a prior year comparative of 18%. The Company no longer has exposure to any foreign currency external US$ denominated amortising debt, following the Rights Offer…
We are pioneering, we are innovative. We continue to seek value creating opportunities for our stakeholders. Our TMT model will continue to be underpinned by our robust infrastructure, exceptional human capital, diverse product offerings and our innovative culture. We affirm our dedication to uncompromised quality and service excellence, as well as to delivering pioneering innovations that will transform our society…
The Company has declared a final dividend of 0.3927 US cents per share amounting to US$ 10 million for the year ended 28 February 2018. The total dividends declared for the year amounts to US$ 60 million, equivalent to 2.3562 US cents per share.
|Last Date to Trade – cum dividend||Tuesday, 12 June 2018|
|Share Trade Ex-Dividend||Wednesday, 13 June 2018|
|Record Date||Friday, 15 June 2018|
|Payment Date (on/about)||Thursday, 21 June 2018|
I would like to take this opportunity to extend my profound appreciation to our customers, who have believed in the Company for the last 20 years. Our staff have made exceptional sacrifices to support the business and their contribution, passion and commitment to the business is impressive. Our business partners have been extremely supportive, we would like to express our appreciation to them. Our appreciation also extends to our regulators for their support and continued direction. To my fellow Board members, allow me to extend my sincere appreciation for your guidance and continued support.
DR J. MYERS
CHAIRMAN OF THE BOARD
ECO.zw | 2018 Abridged Financial results.pdf
ECO.zw | 2018 Abridged Financial results presentation.pdf
The contents of the post above were obtained from third parties, which We, AfricanFinancials, believe to be reliable. However, We do not guarantee their accuracy and the above information may be in condensed form. The reader is encouraged to refer to the original source of the information, which, in most cases, is in PDF format and on the originating company's letterhead. While We endeavour to replicate the original content accurately, We cannot guarantee the absence of errors in the above article and We disclaim any liability regarding reliance on information provided in this article.
Econet Wireless Zimbabwe Limited (ECO.zw)Share price: 25,662.04 ZWL cents ▼ (-825.02 | -3.11% – 28/03/23)
Recent Documents & News
Econet Wireless Zimbabwe – Appointment of Chengeto L. Moyo as Finance Director – February 27, 2023
Econet Wireless Zimbabwe Limited (ECO.zw) Q32023 Interim Report – February 9, 2023
Corporate announcement, Earnings
Econet Wireless Zimbabwe – Trading Update for the third quarter ended 30 November 2022 – February 8, 2023
Corporate announcement, Earnings
Econet Wireless Zimbabwe – Reviewed abridged financial results for the HYE 31 August 2022 – November 18, 2022
Econet Wireless Zimbabwe Limited (ECO.zw) HY2023 Interim Report – November 18, 2022