Kenya · Delayed Price · Currency is KES Safaricom Earnings Call Transcripts
Fiscal Year 2026
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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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Double-digit growth in revenue and net income was achieved, with strong performance in both Kenya and Ethiopia. M-PESA and mobile data drove growth, while Ethiopia's business is scaling rapidly and expected to be EBITDA positive by FY 2027. Dividend payout remains robust at KES 1.20 per share.
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Strong double-digit growth in Kenya drove group revenue and earnings, with M-PESA and mobile data as key contributors. Ethiopian operations showed robust commercial momentum but group net income was impacted by significant FX losses. Upgraded guidance reflects confidence in continued growth.