Productive
capital

Key strategic focus areas

• Optimise and grow the masts and towers portfolio
• Build new towers to meet the demand of mobile network operators (MNOs)
• Expand the range of products and services offered

Challenges

• Ongoing loadshedding costs have impacted clients' profitability
• Clients (MNOs and non-MNOs) are prioritising capex for power security over network expansion
• Increasing theft and vandalism as high-value backup power systems are built

The effective date of the Swiftnet sale transaction was 31 January 2025. The operational and financial performance for the 10-month period ending 31 January 2025 was as follows:

• 15 new towers built and completed and eight towers under construction, resulting in 4 012 productive towers
• Continued focus on PaaS, with 501 PaaS solutions built
• Revenue increased by 11.7% year on year to R1 221 million. PaaS was a significant contributor. Growth was also augmented by inflationary increases, new tenancies, 5G expansion and antenna upgrades by Swiftnet clients
• EBITDA increased by 12.0% to R912 million at a strong EBITDA margin of 74.7%

Outlook

In view of the completed sale transaction, Swiftnet is being treated as a discontinued operation in Telkom’s FY2025 financial results and will not form part of the Group’s future reporting.