- The unaudited interim financial results for the company show a significant improvement in performance or a “positive trajectory”.
- Data revenue increased by 22% and Mpamba revenue by 35%, leading to an overall increase in revenue by 17% to MK51.27 Billion in comparison to MK43.78 Billion in 2022.
- The EBITDA margin increased to 36% from 28% in 2022, primarily as a result of the company’s cost containment initiatives.
- Net profit post-taxation increased by a whopping 158%, showing a profit of MK0.78 Billion – a significant boost from the loss of MK1.34 Billion in June 2022.
- Investment in capital expenditure amounted to MK7.00 billion that primarily went towards distribution systems, network, and system expansion.
- The challenging macro-economic environment might pressurize the group’s profitability due to volatile exchange rates and inflation.
- Despite these challenges, the group plans to focus on growth and revenue, cost reductions, and improvements in overall group financial performance.
- The Directors made a decision not to declare a first interim dividend, focusing instead on the company’s recovery from previous underperformance.
About Telekom Networks Malawi Limited (TNM.mw)
Telekom Networks Malawi Limited is the major provider of telecommunication services in Malawi; offering a range of products that include post- and pre-paid airtime, interconnections, international incoming and roaming, handsets, equipment and accessories. Additional products and services include smart data packages, a mobile money wallet called Mpamba, Yanga Internet bundles; as well as voice services which include caller tune, call conference and mobile directory services. Value-added services include Me2U which allows customers to share airtime, Pasavute airtime services, and multimedia messaging services. Innovations include the introduction of 3.5g broadband services and high-speed wireless Internet access, voice and data connectivity, and video and music streaming. Telekom Networks Malawi Limited was the first mobile network operator in Malawi and was established as a joint venture between Telekom Malaysia and the then government-owned Malawi Telecommunications Limited (MTL). Telekom Malaysia sold its 60% majority stake in TNM and the telecommunication enterprise is now a wholly-owned Malawi company. Telekom Networks Malawi is listed on the Malawi Stock Exchange
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