Safaricom PLC is expected to report its strongest full-year earnings performance in at least five years when it releases results for the year ended 31 March 2026 on Thursday, 7 May 2026.
The company’s attributable net income is projected to range between KSh 82.0 billion and KSh 95.8 billion, with a consensus estimate of KSh 86.1 billion, marking about a 23 percent increase from the KSh 69.8 billion recorded in FY25.
The expected growth reflects improving performance across Safaricom’s operations, supported by narrowing losses in Ethiopia and continued expansion in its core Kenyan business. The company is also anticipated to raise its dividend for the first time since FY22, ending a three-year freeze at KSh 1.20 per share.
Safaricom’s total revenue is projected to rise by 9 percent to KSh 423.9 billion from KSh 388.7 billion. M-Pesa remains the company’s main growth driver, with revenue expected to reach KSh 190.4 billion, up 18.2 percent from FY25, and contributing more than 41 percent of total group revenue.
Margins are also expected to improve, with EBITDA margin estimates ranging between 45.4 percent and 51.1 percent, and a central estimate of 49.2 percent, pointing to a recovery of about 290 basis points. EBIT is projected at a record KSh 146.8 billion, while earnings per share are expected to come in at KSh 2.14.
Safaricom’s dividend outlook is also strengthening, with a consensus estimate of KSh 1.69 per share. This would represent a 41 percent increase and return the payout ratio toward the company’s historical range of 75 to 80 percent.
