Grameenphone Ltd. reported a total revenue of Tk 37.3 billion for the fourth quarter of 2024, registering a decline of 7.2 percent from the same period last year mainly due to the challenging macro economy.
The Company reported a total subscriber base of 84.3 million at the end of the fourth quarter. 56.9% of Grameenphone’s total subscribers, or 48 million, are using internet services.
“As we are all aware, the current economic climate has brought numerous challenges, with rising inflation and continually decreasing GDP, putting significant strain on businesses across various sectors. While we have experienced some pressure on both our topline and bottom-line growth during the second half of the year, I want to emphasize that we remain focused on delivering long-term value and stability for our investors. Supported by a strong balance sheet, we will continue to pay attractive dividends as part of our strategy to provide our shareholders with consistent and reliable returns. We believe that this is a crucial way to demonstrate our confidence in the long-term strength of the company, even in the face of short-term market fluctuations,” said Yasir Azman, Chief Executive Officer of Grameenphone Ltd.
“Sustainability, innovation, and AI are on top of Grameenphone’s strategic agenda. We are integrating sustainability into every aspect of our supply chain to ensure that standards are met across the board. As of December 2024, a staggering 77.5% of our total spend towards suppliers is with companies who commit to reduce carbon footprint. As we look ahead, our focus remains on sustaining the momentum for innovation. We will continue investing in cutting-edge technology, expanding our reach, and enhancing our customer experiences. Over the next years, we’ll be realizing the advantages of our proactive investment in platforms and AI that will lead to automated operations, autonomous network management, and advanced customer engagement,” he added.
On a YoY basis, we’ve registered a normalized decline of 4.9% in total revenue and a decline of 4.6% in Subs and traffic revenue, primarily driven by cautious consumer spending, particularly on data, amid a challenging macroeconomic environment and high inflation. We expect revenue to gradually improve as the economy recovers and growth in mobile data usage and handset penetration resume. Solid Operational Excellence programs and sharp capital allocation allowed us to reach an EBITDA of BDT 96 Bn for the year 2024 and maintain an EBITDA margin of over 60%. The reported NPAT, is up 15% YoY mainly due to one-off impacts in Q4 last year.
The strong balance sheet allows us to continue to invest with a long-term view, even in periods with a challenging economy, like this year, and it also provides the basis for an attractive and predictable dividend policy. For 2024, our board is proposing to pay a final dividend of BDT 17 per share after the BDT 16 per share we paid after Q2, bringing the total declared dividends in 2024 to BDT 44.6 billion and 122.73% of NPAT,” said Otto Risbakk, Chief Financial Officer of Grameenphone Ltd.
