Sonatel (SNTS) Q2 2024 earnings summary

Executive summary

• H1 revenue increased 10.5% YoY to XOF 877.7bn; EBITDAAL rose 17% and net income 29.6%, supported by strong activity across countries and tight cost control.

• Network investment reached XOF 134.5bn as customer growth continued, particularly in mobile data, fixed broadband and fiber.

Financial highlights

• Revenue was XOF 877.7bn, up 10.5% YoY; EBITDAAL was XOF 407.7bn, up 17%; net income was XOF 192.6bn, up 29.6%.

• Operating profit increased to XOF 301.9bn from XOF 227.7bn; consolidated net income rose to XOF 192.6bn from XOF 148.6bn.

• Operating cash flow was XOF 273.2bn, up 22.5% YoY; free cash flow was XOF 164.6bn, up 9.7% YoY.

• Revenue growth was driven by data, voice, Orange Money and fixed broadband; data accounted for half of the increase in revenue.

Outlook and guidance

• H2 priorities: complete network deployments, sustain operational and financial performance through commercial and marketing activity, optimize costs, and accelerate digitalization to improve customer and employee experience.