Paratus Namibia announces 'solid' annual financial results

5 Oct 2020

Paratus Namibia has announced a 101% rise in net profit to NAD25.4 million (USD1.6 million) and 14% revenue growth to NAD148.3 million on a like-for-like basis in the financial year ended 30 June 2020. EBITDA rose 53% to NAD101.2 million, while the company’s gross profit margin increased from 47.5% to 49.4%, mainly due to the rollout of its own infrastructure. The financial results announced cover a longer financial period of 16 months due to the change in the group’s year-end from February to June.

Paratus Group CFO Stefan de Bruin commented: ‘We are pleased with the performance and resilience we have demonstrated throughout the financial year; we are in a very privileged position to be able to yield substantially higher results than last year driven by a combination of revenue growth, improved operating margins and cost management. The higher profit after tax and cash flows from operations have enabled the board to declare a final dividend of NAD0.10 in addition to the maiden dividend of NAD0.10 per ordinary share declared in May.’

Looking ahead, the operator remains committed to strategies that will ensure its future growth, including the deployment of fibre and LTE sites (fixed-wireless and mobile). CAPEX investments will include the construction of a Tier-3 vendor neutral data centre in Windhoek costing NAD120 million, and the construction of a NAD33 million cable landing station for Google’s Equiano subsea cable.

Namibia, Paratus (Namibia)