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TelOne has reported an Earnings Before Tax, Interest, Depreciation, and Amortisation (EBITDA) of ZWG416 million for the 2024 financial year, despite rising operational costs driven by inflation and network challenges.
The operating costs rose significantly to ZWG1.4 billion, up from ZWG986 million in 2023, due to inflationary pressures, network repairs following vandalism incidents, and depreciation expenses from an interim revaluation.
The company achieved inflation-adjusted revenue of ZWG2 billion, marking a 20% increase compared to the previous year. This growth was primarily driven by strong performance across key business segments.
The wholesale business segment surged by 102%, generating sales of 81.8Gb, while the enterprise segment grew by 26%, reaching 25.87Gb in sales.
By Gamuchirai Mapako
The data centre and cloud solutions business expanded by 23%, fuelled by higher rack space occupancy and increased cloud storage demand. The home broadband segment also saw a 5% rise in subscribers, reaching 147,876, with an average monthly revenue per user of US$12.
On the infrastructure front, TelOne increased its internet bandwidth capacity from 165Gb to 195Gb to support business growth and improve customer experience. The company maintained strong network reliability, with uptimes of 98.41% on its backbone, 99.99% on its core network, and 97.83% on exchange nodes.
Despite these gains, voice usage declined by 13% to 244,361,216 minutes, attributed to the growing popularity of over-the-top (OTT) voice services and persistent network vandalism.
TelOne’s performance reflects resilience in a challenging economic environment, balancing revenue growth with rising operational expenses while continuing to invest in network expansion and stability.
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