Equity Analysis /

Vodacom Tanzania: Vodacom Tanzania: FY 18 conference call notes

    Tracy Kivunyu
    Tracy Kivunyu

    Equity Research Analyst, Telecoms

    Tellimer Research
    15 May 2018
    Published byTellimer Research
    Vodacom Tanzania released a good set of results (for the twelve-month period to end-March 2018), even when excluding the impact of various non-recurring charges. However, despite a recovery in EBIT margin to 10%, Vodacom TZ lags peers (Safaricom: 34%, Sonatel: 32%, Econet: 23%). The company also faces significant risk to its top line from regulatory pressure in the voice business.