Sonatel (SNTS) Q4 2024 earnings summary

Executive summary

• Revenue rose 9.6% to FCFA 1,776.4bn; EBITDAAL increased 12.3% to FCFA 839.2bn and consolidated net income rose 18.7% to FCFA 393.7bn.

• Active customer base grew 3.3% to 42.4m, with leadership maintained across five markets and market shares ranging from 51.0% to 74.7%.

• FCFA 300.5bn of eCapex supported network expansion, fibre and 5G deployment, alongside digital financial services growth.

Financial highlights

• Revenue was FCFA 1,776.4bn, up FCFA 155.7bn YoY; retail revenue grew 10.9% to FCFA 1,677.8bn, while wholesale fell 8.7% to FCFA 92.1bn.

• EBITDAAL (adjusted) reached FCFA 839.2bn, up 12.3%; EBITDAAL margin was 47.2%, up 1.1 points, as revenue growth exceeded cost increases.

• Operating income was FCFA 619.5bn versus FCFA 515.7bn in 2023; consolidated net income was FCFA 393.7bn versus FCFA 331.7bn.

• Net income attributable to parent shareholders was FCFA 328.8bn; basic and diluted EPS were FCFA 3,288, versus FCFA 2,794 in 2023.

• Financial result was negative FCFA 23.3bn, worsening from negative FCFA 19.2bn, mainly due to higher financing costs and a securitization-related charge.

Outlook and guidance

• 2025 priorities include continued heavy infrastructure investment, expanding digital financial services, strengthening social impact and developing technology solutions for governments, businesses and consumers.

• Target 50% renewable-energy use by end-2025; the longer-term ambition is net-zero carbon by 2040 and a 30% carbon-footprint reduction.

• Orange Energies aims to equip 200,000 households by 2025; more than 121,000 households had been equipped in 2024.

• The 2026 vision is to lead West Africa’s digital economy through innovative services, improved customer experience and digital, financial and social inclusion.