Gyro successfully disposed of non-core properties through three public auctions held during the year. These included properties previously earmarked for property development.
The conveyancing process was accelerated to ensure the transfer and registration of significant high-value properties in FY2025.
A total of 57 Gyro and Telkom-owned properties were transferred, yielding cash proceeds of R730 million.
As at 31 March 2025, 30 properties with sales proceeds of R280 million remain in the conveyancing process. These include 28 properties that were auctioned in December 2024 for proceeds of R125 million.
We made significant strides in ESG, including the circular economy. We continued to enhance the resilience and energy efficiency of Telkom's network and operations while reducing carbon emissions.
We reduced diesel consumption by 78% due to limited loadshedding and successful diesel optimisation projects. This lowered emissions and reduced operational costs.
All 30 properties that were under conveyancing at 31 March 2025 are expected to be transferred in FY2026.
The exit and disposal of non-core properties is expected to continue in FY2026. This will further streamline Telkom's property footprint, optimise property operating costs and enhance the Group's liquidity position.
Property sales in FY2026 are not expected to yield the same level of proceeds, as most of the high-value non-core properties were sold in FY2025.
Swiftnet continued to grow and commercialise the masts and towers portfolio and organically grow the colocation business while scaling up the PaaS offering.
Effective 31 January 2025, in line with the Group’s Value Unlock Strategy, Telkom disposed of its 100% equity interest in Swiftnet. The buyer was an infrastructure fund managed by TowerCo BidCo (Pty) Ltd, a subsidiary of Actis LLP, with Royal Bafokeng Holdings (Pty) Ltd as its B-BBEE partner.
The effective date of the Swiftnet sale transaction was 31 January 2025. The operational and financial performance for the 10-month period ending 31 January 2025 was as follows:
In view of the completed sale transaction, Swiftnet is being treated as a discontinued operation in Telkom’s FY2025 financial results and will not form part of the Group’s future reporting.