CHAMWE KAIRA
Paratus Namibia Holdings Limited has advised shareholders in interim results for the period ended 31 December 2024 that headline earnings per ordinary share (HEPS) are anticipated to be substantially lower (greater than 30%) in relation to the 31 December 2023 comparative period.
Paratus said basic earnings per ordinary share (BEPS) are anticipated to be substantially lower (greater than 30%) in relation to the 31 December 2023 comparative period.
Revenue for the period is anticipated to be materially higher (between 10% and 30%) in relation to the 31 December 2023 comparative period; and earnings before interest, tax, depreciation and amortisation (EBITDA) for the period is anticipated to be significantly higher (less than 10%) in relation to the 31 December 2023 comparative period.
The firm said the decrease in HEPS and BEPS can be ascribed to the increase in the number of ordinary shares in issue when compared to the 31 December 2023 period, following the rights issue completed in June 2024.
“At the end of the reporting period, the proceeds from the rights issue were still in the process of being utilised for the deployment of revenue-producing infrastructure. Revenue from this infrastructure is only expected to materialise and gradually ramp up from the second half of the 2025 financial year, as new customers join the expanded network.”
The unaudited results for the period ended 31 December 2024 are expected to be published on or about 14 March 2025.
Paratus recently launched the Paratus Express Route, a groundbreaking fiber route that provides the fastest connectivity between Johannesburg and Europe.
The company identified that the route was needed to meet the challenge of escalating connectivity demand. Existing infrastructure, such as the West Africa Cable System (WACS), was no longer sufficient to meet the growing demands of businesses and consumers alike.
The Windhoek-based firm has also constructed a state-of-the-art Cable Landing Station (CLS) in Swakopmund, developed the 1,890 km fiber route traversing Botswana to the Teraco data centre in Johannesburg and connected to the Equiano subsea cable to provide a direct route to Lisbon and onwards to London and the rest of Europe.
Paratus believes that improved connectivity is expected to act as a catalyst for digital transformation across various sectors, driving economic growth in southern Africa.
