Paratus Namibia Holdings Limited increased its infrastructure investments, injecting N$125.2 million in the six months ending 31 December 2024—up from N$75 million in the same period of 2023.
The company allocated N$53.6 million to its transformation project, with work-in-progress valued at N$124 million by the end of the reporting period.
“At the end of the period, work-in-progress amounts to N$124 million and relates to this project. The majority of the capital expenditure was focused on capacity and network expansion to reach more customers nationally,” the company noted.
The investment follows Paratus Namibia’s 16.43% revenue growth for the period, with 6.5% of that growth attributed to N$18.4 million in dividends from surplus funds—a sharp increase from N$100,000 in 2023.
“The strong contract revenue growth for the period was primarily driven by the sign-up of new customers across Namibia and higher occupancy at the Armada Data Center. The decrease in HEPS (Headline Earnings Per Share) and BEPS (Basic Earnings Per Share) can be attributed to the increase in the number of ordinary shares in issue, compared to the 31 December 2023 period, following the rights issue completed in June 2024,” the report stated.
At the end of the reporting period, proceeds from the rights issue were still being utilized for the deployment of revenue-generating infrastructure.
“Revenue from this infrastructure is expected to materialize and gradually ramp up from the second half of the 2025 financial year as new customers join the expanded network,” Paratus said.
Meanwhile, Paratus Telecommunications (Proprietary) Limited (Paratus Namibia), the operating entity, recorded recurring revenue of N$271 million (31 December 2023: N$249 million), reflecting an 8.8% growth.
“Non-recurring revenue, which mainly represents Local Area Network installations in the commercial office space and the sale of telecommunication equipment, amounted to N$34.5 million (31 December 2023: N$25.8 million),” the results noted.
This represents a 33.4% increase, despite management’s strategic focus on growing recurring revenue over lower-margin, non-recurring revenue.
Paratus Namibia reported a net profit before tax of N$12.7 million, down from N$32 million in 2023, while EBITDA stood at N$112.5 million, compared to N$121.3 million in the prior period.
