TNM (Malawi) – FY2021 PAT up 25% to MK9.69 billion

By Published On: May 12th, 2022Categories: Corporate announcement, Earnings

Telekom Networks Malawi Limited ( 2021 Abridged Report


The Board is pleased to announce financial results for the group for the year ended 31 December 2021. Net profit after taxation for 2021, grew by 25% to MK9.69 billion, from MK7.73 billion in 2020.

The group registered a satisfying performance despite the unique challenges brought by COVID-19 pandemic. Data revenue grew by 21% to MK32.54 billion (2020: MK26.87 billion) while mobile money revenue grew by 23% to MK11.48 billion (2020: MK9.33 billion). Subscriber base grew by 14% as a result of enhanced efforts to acquire new customers. This  resulted in total growth of 9% to MK99.13 billion (2020 90 billion).

Group EBITDA increased by 17% to MK36.43 billion Cen MK31.25 > billion) with margin of 37% as compared to 35% in 2020.Increase in   EBITDA margin was due to cost containment initiatives that management continues to implement and monitor.

The group recorded an increase in depreciation expense of 16% to MK16.33 billion (2020: 14.05 billion) due to capital expenditure made in the year and as a result of full year effect of 2020 capital expenditure additions. TNM invested MK28.82 billion (2020: MK21.04 Dillion)  in network transmission (local and international network transport), systems catering for capacity expansion, improvement and future use as customer base and data usage grow.


The macroeconomic environment is expected  to remain challenging putting pressure on revenue and margins. The volatile exchange rates and foreign currency scarcity will continue to increase the cost of our operations. We will continue with our innovative customer focused business model to minimize these impacts and continue to create value for our stakeholders. TNM has embarked on a recovery plan that will grow the revenues for future profitability. Management will continue to pursue cost containment initiatives in order to protect margins and improve performance.


Total Dividends of MK4.32 billion  equivalent to MK 0.43 per sh 2020: MK 0.40 per share) are proposed for the period ended 31 December 2021:

MK1.81billion : 18t per share was declared  in August 2021 and paid in September 2021

MK1.51 billion : 15t per share was declared in December 2021 and paid in January 2022

MK1.00 billion : 10t per share to be declared at the upcoming AGM.

The Directors  propose a final dividend of 10 (ten) Tambala per share out of the profit of the company  for the year ended, 31 December 2021, 10t per share to be declared at the forthcoming AGM.


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