Kenya · Delayed Price · Currency is KES Safaricom Earnings Call Transcripts
Fiscal Year 2026
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Strong FY 2026 results with double-digit growth in Kenya and reduced losses in Ethiopia, supported by regulatory clarity and robust customer expansion. Group service revenue rose 11%, EBITDA 35%, and net income 67% YoY, with a record dividend payout and positive outlook for Ethiopia's breakeven in FY 2027.
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Kenya maintains stable growth and regulatory clarity, while Ethiopia advances on regulatory, pricing, and currency fronts, supporting the FY 2027 breakeven target. CapEx and key growth engines are on track, with risk management focused on oil, currency, and regional stability.
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Group service revenue rose 11.1% to KES 200B, with EBIT up 54.5% and net income up 52.1%. Kenya delivered double-digit growth, while Ethiopia's losses narrowed despite FX headwinds. Full-year guidance and Ethiopia break-even targets remain unchanged.
Fiscal Year 2025
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Group revenue rose 11.2% to KES 388.7B and net income 10.8% to KES 69.8B, driven by double-digit growth in Kenya and strong momentum in Ethiopia. M-PESA, mobile data, and fixed broadband led segment gains. Dividend payout was maintained at KES 1.20 per share.
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Strong double-digit growth in Kenya drove group revenue and earnings, while Ethiopia showed robust customer and data usage gains despite currency headwinds. Group net income declined due to Ethiopian Birr depreciation, but underlying business momentum remains solid.