Econet Wireless Zimbabwe CEO, Douglas Mboweni

Financial performance 

Notwithstanding the impact of economic deflation and the prevailing regulatory environment, the company managed to use its innovations, and revenue diversification strategy, to mitigate some of the negative impact on its revenue. Revenue for the period under review was $746.2 million, representing a fall on last year of less than 1%. The new revenue lines arrested revenue losses resulting from worsening operating environment. Earnings Before Interest, Taxation, Depreciation and Amortization (‘EBITDA’) closed at $285.6 million, compared to $332.2 million for the previous year. The EBITDA margin eased by 5.8 percentage points, to 38.3%. Depreciation and amortization increased by 24.1% to $126.3 million. One of the key factors in this increase was the introduction of amortization on the $137.5 million Operating License fees.

FY 2015 financial results presentation

FY 2015 financial results

Related Links