Giant Telco Sonatel Sees 18% Jump in Full-Year Net Income
TLDR
- Senegal's Sonatel posted 9.6% revenue growth in FY24 to XOF 1,776.4 billion ($2.84 billion)
- EBITDA after leases increased 12.3% YoY to XOF 839.2 billion ($1.34 billion) while net income surged 18.7%
- The BRVM-listed mobile operator retains 60% market share across Senegal, Mali, Guinea, Guinea-Bissau, and Sierra Leone
Senegal's Sonatel, the leading telecom operator in francophone West Africa, posted 9.6% revenue growth in FY24 to XOF 1,776.4 billion ($2.84 billion), driven by mobile data, broadband, and Orange Money.
EBITDA after leases (EBITDAal) increased 12.3% YoY to XOF 839.2 billion ($1.34 billion), while net income surged 18.7% YoY to XOF 393.7 billion ($629.1 million). Capital expenditures rose 18.5% YoY to XOF 300.5 billion ($480.3 million), reflecting investments in infrastructure and 5G expansion.
The BRVM-listed mobile operator (SNTS) retains 60% market share across Senegal, Mali, Guinea, Guinea-Bissau, and Sierra Leone, with 42.4 million mobile subscribers (+3.3% YoY) and 12.6 million Orange Money users (+8.4% YoY). The stock remains the most valuable on the BRVM, representing 24.1% of total market capitalization.
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Key Takeaways
Sonatel’s 40th anniversary in 2025 marks a strategic shift toward digital expansion, fintech, and fiber investments. The company continues to dominate the BRVM, starting the year at XOF 24,000 ($38.37) per share and rising 10.4% YTD to XOF 26,500 ($42.37). Over the past month, the stock climbed 8%, ranking 21st on the exchange. Sonatel’s dividend outlook remains strong, with a proposed dividend of XOF 1,839 per share ($2.94), translating to a net payout of XOF 1,655 per share ($2.65) after tax. Risks include regulatory uncertainty (Mali’s ECOWAS exit), inflation, and competition in mobile money, but Sonatel remains a top BRVM investment, offering stable returns and continued market leadership.
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