Telkom Finalizes Swiftnet Deal, Boosting Earnings with R6.57 Billion
Telkom finalized Swiftnet’s R6.57 billion sale, boosting earnings. A financial update is expected before its FY2025 results release in June.
Telkom has announced that parties successfully closed out the sale of Swiftnet on 27 March 2025. The Provisional Consideration received in cash amounted to R6,575bn.
The increase in reported earnings is mainly due to the profit made on the sale of Swiftnet, a non-recurring item impacting the current year results. The financial information in this announcement has not been reviewed or reported on by the Group’s auditors.
A further trading statement will be issued once a reasonable degree of certainty exists as to the likely range for total operations BEPS and HEPS. The Group’s annual results announcement for FY2025 is expected to be released on SENS on or about 10 June 2025.
