South Africa · Delayed Price · Currency is ZAR · Price in ZAc Blu Label Unlimited Group Earnings Call Transcripts
Fiscal Year 2026
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Revenue rose to ZAR 14.6 billion, with gross revenue up 16% to ZAR 89.3 billion, but gross profit fell 5% and core headline earnings per share dropped 34% year-over-year. Cell C showed improved network quality and EBITDA margin of 16%, while margin compression and regulatory risks persist.
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Revenue grew to ZAR 14.1 billion with EBITDA up 31% and gross margin rising to 24%. Cell C delivered strong operational and financial results, with service revenue up 6% and a 200% increase in profit before tax. Strategic focus remains on asset unlocks, digital expansion, and resuming dividends.
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Restructuring and listing of Cell C simplified the group, enabling a return to dividends and strong cash generation. Normalized revenue rose 11% year-over-year, with robust growth in core segments and new energy initiatives underway. Dividend policy and further capital returns are key focus areas.
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Revenue rose 8% year-over-year to ZAR 47.4 billion (imputed), with gross profit up 2% and margin at 22.5%. Cell C delivered strong growth in revenue, EBITDA, and MVNO business, while no further Blu Label cash is needed for Cell C. Dividend payments may resume in 2024.
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The AGM covered director reelections, auditor appointments, and audit committee elections. Shareholders raised questions on diversity, ESG integration, and Cell C governance, with the board detailing progress and ongoing initiatives. All resolutions except two on remuneration policy were passed.
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Achieved strong normalized financial results with ZAR 9.4 billion revenue and ZAR 681 million core headline earnings, driven by a simplified structure and successful Cell C restructuring. Initiated a share buyback, adopted a new dividend policy, and advanced energy and municipal projects for future growth.