Telkom today announced robust financial and operational results for the third quarter ended 31 December 2024 (“Q3 FY2025”), demonstrating continued momentum across the Group through its data-led strategy.

The results highlight strong data revenue performance, significant EBITDA expansion, and impressive gains in subscriber and network growth, reinforcing Telkom’s position as the backbone of South Africa’s digital future.

Group Highlights:

• Group revenue increased 0.9% year-on-year to R10,995 million, driven by strong demand for data-led services.
• Mobile service revenue grew 9.6% to R5,401 million —outperforming the broader South African mobile market—while fixed data and information technology service revenues increased by 4.7% and 3.2%, respectively.
• Year-to-date revenue reached R32,377 million, up 1.6%.
• Group EBITDA surged 28.0% to R2,986 million, with EBITDA margins expanding by 5.8 percentage points to 27.2%. Adjusted year-to-date EBITDA stood at R8,592 million (26.5% margin).
• Mobile subscribers grew by 21.6% to a record 24 million, including a 17.3% increase in mobile data subscribers—now representing 62.3% of the total mobile base.
• Fibre connectivity continued its rapid expansion with homes passed growing by 13.1% to 1.3 million and connected homes up 17.6%.
• Mobile and fixed data traffic increased by 22.2% and 23.7%, respectively, underscoring the success of Telkom’s data-led strategy.
• Strong operational performance, combined with R417 million in property disposal proceeds during the quarter, maintained the resilience of Telkom's balance sheet, with interest-bearing debt reduced by 2.7% since September 2024.

“These results provide further proof that the execution of Telkom’s strategy is on track, delivering profitable growth. We are excited by the growing momentum across our business units, and we remain confident in our ability to meet our medium-term growth objectives as we continue to invest in our infrastructure, network and digital services”, said Taukobong.

Telkom Consumer’s performance was bolstered by innovative value-added offerings and strong mobile data performance. The pre-paid segment grew robustly by 25.0% to 21.0 million subscribers, while the post-paid base remained stable with improved ARPU performance.

EBITDA for the unit surged by 51.4% to R1,488 million, with a notable 6.5 percentage point increase in EBITDA margin.

Openserve maintained steady performance with revenue of R3,107 million, reflecting ongoing fibre service expansion and efficiency gains. Homes passed increased by 154,942 (13.1%) and connected homes by 100,115 (17.6%), with data consumption growing by 23.7%.

Efficiency initiatives, including network modernisation and renewable energy programmes, contributed to a 5.4% increase in EBITDA to R1,069 million and an improved margin of 34.4%.

BCX achieved a higher margin for IT services with revenue growing by 6.8% to R1,208 million. EBITDA expanded 36.0% to R438 million, with margins improving by 5.0 percentage points to 15.0%, reflecting the successful transition to scalable, higher-margin service offerings. Whilst showing steady performance, BCX revenue declined by 9.7% to R2,913 million due to a strategic shift away from lower-margin hardware/software revenue.

The Swiftnet disposal remains on track, with regulatory approvals in place and the transaction expected to close by the end of the 2025 financial year.

Telkom is well positioned to continue its transformation into a leading digital enabler. With a strong operational foundation, ongoing network investments, and a clear focus on data connectivity, the Group expects continued momentum in the remaining quarter of FY2025 and beyond.

The strategic disposal of Swiftnet, combined with ongoing cost optimisation and smart capital expenditure, further solidifies Telkom’s robust financial position and long-term growth prospects.