Vodacom 2013 Results: Data Story
South African mobile operator Vodacom released its FY2012/2013 results, showing slow growth in South Africa, but much a much better performance in other sub-Saharan markets. In line with industry trends, data was the major growth driver for the group; BMI expects Vodacom's continued emphasis on developing data networks and services will allow it to remain competitive.
In South Africa Vodacom's service revenue fell by 0.4% to ZAR48.88bn (US$5.18bn) as mobile termination rates have begun to take effect. The operator's subscriber base for the year ending in March 2013 grew by 4.9%, although since strong performance up until June 2012, its subscriber base has slowly declined for the last three quarters. Vodacom South Africa's data revenue grew by 16.3% to ZAR8.88bn, accounting for 18.4% of revenue for the year ending in March 2013, and in the final quarter of the year it grew at an even faster pace of 20.5%. Capex was ZAR6.97bn, equivalent of 11.9% of revenue, and mainly focused on improving network transmission speeds.
In its international markets, covering DRC, Mozambique, Tanzania and Lesotho, Vodacom's revenue went up by 11% to ZAR11.58bn. These markets are increasing in value, as their contribution to the group's total service revenue increased from 17.4% in 2012 to 19% in 2013. The main growth driver in international markets was a massive uptake of data services, with a 41% increase in data customers and a 107% growth in data revenues.
|South Africa And Sub-Saharan Africa 3G/4G Subscriber Forecast, 2010-2017, ('000)|