FY20 Annual Results
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MultiChoice Group
FY20 Annual Results
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Solid financial results
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Maiden dividend of R2.5bn
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Share buy-backs of R1.7bn
The leading video entertainment platform in Africa
We are pleased with our performance and the resilience we have demonstrated this year. Our healthy balance sheet positions us well to weather uncertainties in our markets going forward. We have honoured our commitment to shareholders by declaring a maiden dividend of R2.5bn, on top of some R1.7bn in share buy-backs executed during the year.
Calvo Mawela - Chief Executive Officer

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Subscriber base
19.5m90-day active
5% -
Revenue
R51.4bn
3% -
Trading profit
R8.0bnR0.8bn loss reduction in RoA
14% -
Core headline earnings
R2.5bn57% on a normalised basis
38% -
Free cash flow
R5.2bn
59% -
Cash
R9.1bn
36%
FY20 by the numbers (Percentages represent YoY growth)

We are well positioned for uncertain times ahead
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Sought after product
as people spend more time at home -
Scale and diversity
19.5m customers across 50 countries -
Robust business model
low reliance on advertising revenue -
Strong balance sheet
security to weather the macro storm -
Accelerated cost savings programme
EXECUTIVE REVIEW OF OUR PERFORMANCE
Despite global and country-specific macro-economic challenges, the group added 0.9m 90-day active subscribers to reach 19.5m households as at 31 March 2020 (FY20). This represents growth of 5% year on year (YoY), which is somewhat lower compared to the prior year due to rising consumer pressure in many markets, drought-related electricity shortages in southern Africa, and the fact that last year's growth benefited from specific one-off events such as the FIFA World Cup which did not recur this year. The 90-day subscriber base is split between 11.1m households (57%) in the Rest of Africa and 8.4m (43%) in South Africa.
Revenue increased 3% (2% organic) to ZAR51.4bn and included subscription revenue of ZAR42.8bn, which increased 4% (3% organic) YoY. Top line momentum was affected by modest subscriber growth due to macro-headwinds in certain markets, the group's strategic decision not to increase Premium prices in South Africa and a reduction in sub-licence revenues from the South African public broadcaster. This was offset by an increased contribution of 12% (4% organic) by the technology business, Irdeto.