Telkom executives score R200 million payday
Telkom has released its annual report for the year ended March 2017, revealing how much the company’s top executives got paid.
Telkom CEO, Sipho Maseko walked away with a total package of R25.9 million, including a basic salary of R7.44 million, and a bonus of R8.8 million. Maseko also has shares to the value of R9.64 million.
CFO, Deon Fredericks scored R13.5 million, including a basic salary of R5.3 million and a bonus of R4.37 million. Fredericks’ vested shares amounted to R3.86 million.
Former chief operating officer, Brian Armstrong, who stepped down at the end of the financial year, was paid R10.3 million, and chief technology officer, Alphonso Samuels, received R8.95 million.
CEO of consumer, mobile and small business at Telkom, Atila Vitai was paid R11.6 million, while former BCX CEO and current Telkom chief procurement officer, Ian Russel, scored R9.5 million.
In total, Telkom paid R200.8 million to its executive management team (of 47 people) in 2017.
The average executive pay was R4.27 million, up from the average of R4.1 million it paid to 41 executives in 2016.
In May 2016, Telkom reported a 10% increase in revenue to R41 billion for the 2016 financial year, and declared a dividend of 422 cents per share.
The group’s results were boosted by the full consolidation of BCX, and solid growth in its mobile business, it said.
Headline earnings per share (HEPS) grew 12.4%to 731.4 cents, though basic earnings per share (BEPS) declined 1.5% to 749.1 cents. The main difference between HEPS and BEPS is the gain from property sales, the company said.
The key highlights of its results included:
- Operating revenue up 9.8% to R41.0 billion
- Net revenue up 7.9% to R31.9 billion
- EBITDA flat at R10.9 billion with an EBITDA margin of 26.7%
- Headline earnings per share (HEPS) increased 12.4% to 731.4 cents
- Mobile service revenue up 38.4% to R3.5 billion
- Capex increased 43.3% to R8 654 million with capex to revenue of 21.1%
- Annual dividend increased 56.3% to 422.0 cents per share
- Information technology revenue up 70.5% to R7.55 billion
- Data revenue up 5.8% to R12.2 billion
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