Telkom (TKG) Q4 2026 TU earnings summary

Executive summary

• Earnings per share (BEPS) from continuing operations for FY2026 are expected to increase by 20%–30% year-over-year, reaching 679.2–735.8 cents per share.

• Headline earnings per share (HEPS) from continuing operations are projected to rise by 45%–55% year-over-year, to 677.9–724.6 cents per share.

• Earnings growth is attributed to strong operating performance, cost optimisation, and lower finance charges from reduced debt.

Financial highlights

• BEPS for total operations is expected to decrease by 52%–56% year-over-year, due to the prior year's gain on disposal of Swiftnet.

• HEPS for total operations is expected to increase by 24%–33% year-over-year, to 677.9–724.6 cents per share.

• Prior year BEPS and HEPS were negatively impacted by once-off expenses, including a derecognition loss of R451 million and restructuring costs of R117 million.

• Gain on sale of properties in the current year was R194 million, significantly lower than the R654 million in the prior year.

Outlook and guidance

• The data-led strategy is expected to continue delivering enhanced profitability.

• Audited results for FY2026 will be published on or around 2 June 2026.