Telkom Expects Headline Earnings to More Than Double on Cost Discipline
The strong performance is largely attributed to disciplined cost management and improved operational efficiency, as the group benefited from the absence of one-off charges that impacted last year’s results.
Telkom SA SOC Limited has forecast a dramatic rebound in profitability for the six months ended 30 September 2025, with headline earnings per share (HEPS) from continuing operations expected to rise by 105%–115% to between 301.1 and 315.8 cents, up from 146.9 cents in the prior year. Basic earnings per share (BEPS) are also projected to grow 80%–90%, reaching 311.8–329.1 cents.
The strong performance is largely attributed to disciplined cost management and improved operational efficiency, as the group benefited from the absence of one-off charges that impacted last year’s results. These included a R451 million derecognition loss related to the Telkom Retirement Fund and R117 million in restructuring expenses.
Excluding discontinued operations such as the sale of Swiftnet, Telkom’s masts and towers business, the company anticipates overall BEPS to increase 43%–51% and HEPS by 57%–65% year-on-year.
The group’s interim results for H1 FY2026 will be officially released on 18 November 2025, with an investor presentation scheduled at the JSE offices in Sandton.
The forecast highlights Telkom’s continued focus on structural cost containment as a key driver of its earnings recovery, demonstrating the impact of operational discipline on financial performance in a competitive telecommunications market.
