Diluted HEPS of -424cps (1H24: -289.0cps).
Revenue decreased by 10.9% y-y to R24 844m due to subscriber weakness, foreign exchange rate pressures impacting the Rest of Africa business and translation effects of a stronger rand against the US dollar.
GPM decreased by 420bps to 44.1%.
OPM decreased by 740bps to 9.9% on the back of the FX headwinds in the Rest of Africa business (R2.3bn) and the incremental investment in Showmax (R1.6bn).
Operating expenses decreased by 1.7% y-y to R22 728m, while operating expense-to-sales increased from 82.9% to 91.5%.
No interim dividend.
Cash generated from operating activities down 35.7% y-y to R1 544m.
SA 90-day active subscribers decreased by 5.7% y-y to 8.13m subscribers. Rest of Africa 90-day active subscribers decreased by 14.4% y-y to 11.16m subscribers.
