Vumatel and Dark Fibre Africa parent company Community Investments Ventures Holdings contributed far less to the headline earnings per share of its majority shareholder — Remgro — in the second half of 2023., CIVH contributed R6 million to Remgro’s headline earnings per share between July to December 2023, down 96.7% from the R184 million reported over the same period in 2022.
While CIVH’s contribution to Remgro’s earnings decreased, both Vumatel and DFA reported increases in revenue during CIVH’s most recent interim reporting period. “The Reach network expanded by 11% with Reach homes passed exceeding one million and Reach subscribers increasing by 20%,” Remgro said. However, Remgro has estimated that CIVH’s intrinsic value has declined 8.6% from R14.3 billion to R13.064 billion.The company still regards Vumatel as a growth asset due to its infrastructure expansion into lower Living Standards Measure areas, as well as connecting customers in both itsIt has estimated that Vumatel’s share of the FTTH market stood at approximately 36% — both in terms of homes passed and connected.