Sonatel Group delivers another solid financial performance
Sonatel Group delivers another solid financial performance for the 2018 financial year, with a mobile revenue growth again above 10%. Data revenues grew to CFA 192 billion, a phenomenal 41.3% increase compared to 2017. Sonatel maintains a return on equity of 28% and an EBITDA margin above 45%, both indicators of a highly profitable mobile operator. The temporary drop in ARPU for Sonatel Mali in 2017 reversed in 2018 indicating potentially increasing revenues for Sonatel Mali in 2019.
Sonatel’s claim of losing CFA 20 billion (link) to OTTs is somewhat puzzling given that OTTs may compete with voice and SMS but also drive data demand and data revenues. In the case of the Sonatel Group, the 41.3% increase in data revenues clearly compensated for any reduction in voice and SMS revenues.