Multichoice (MCG) FY23 – Results Snapshot

Diluted HEPS dropped to -301.0cps (LY: 371.0cps), affected by an increase in forex losses and impairments of Kingmakers.
Turnover increased by +7.1% y-y to R59 141m (LY: R55 240m).
GPM decreased to 45.2% (LY: 46.1%).
OPM decreased to 17.2% (LY: 18.6%).
Expense to sales increased to 28.0% (LY: 27.5%). Expenses increased by +9.0% y-y (LY: +0.7% y-y).
No dividend declared (LY: 565.0cps).
Cash generated from operating activities down -33.6% y-y to R5 746m (LY: R8 654m).
South African 90-day active subscribers increased by +3.3% y-y to 9.31m subscribers (LY: 9.01m subscribers). Rest of Africa 90-day active subscribers increased by +11.0% y-y to 14.20m subscribers (LY: 12.79m subscribers).