Robust financial performance given conditions
We delivered robust financial performance yet again this year, which has resulted in further dividend growth and share appreciation.
During the year, our net income grew from KES 48.4 billion in FY17 to KES 55.3 billion. Our free cash fl ow also increased from KES 43.5 billion in FY17 to KES 55.4 billion. We also achieved an EBITDA of KES 112.8 billion, up from KES 103.6 billion in FY17. The EBITDA was suffi cient to reduce our net borrowings by KES 12.5 billion, pay dividends of KES 38.9 billion and invest KES 36.4 billion of CAPEX.
Sustainable development in financial markets
An expression of our commitment to the SDGs and goal 17, in particular, we were silver sponsors of the 7th Building African Financial Markets (BAFM) seminar in Nairobi. The theme of the seminar was “adaptive innovation as a lever for growth and sustainable development of financial markets”.
Active investor engagement
We continue to engage with individual investors, fund managers, analysts and other members of the investment community actively. On a regular, ongoing basis, we deliver value to these important stakeholders by ensuring that we are available to them and that we respond to their telephonic, email and message-based enquiries swiftly. We also publish an annual report to keep investors updated on financial and non-financial performance, and we hold an annual general meeting, which
provides a forum for discussion and debate with shareholders.
We also disseminate information about financial results, reports and upcoming events to shareholders via press releases and other communiqués. In addition, we invite shareholders and other members of the investment community to briefings and workshops as required.
During the year, we hosted investor road shows to share our interim and full year results. During these roadshows, we update shareholders on our strategy and outlook. Roadshows were held in the UK, Europe, America, Canada, Johannesburg and Cape Town, as well as Nairobi.
We also continue to maintain an up-to-date investor dashboard on the Safaricom website, which enables investors to access a wide range of information conveniently and easily, including our investor calendar of events and forms, analyst coverage, fact sheets, share price information, half year and full year results, along with information regarding our current governance processes, sustainability objectives and performance.
