Ethio Telecom Revenue Climbs to ETB 215.9 Billion as Data Overtakes Voice
Ethio Telecom generated a record 215.86 billion birr in revenue during the 2025/26 fiscal year, marking a 33 percent increase from the previous year as the state-owned operator reported strong earnings growth and, for the first time, saw data services overtake traditional voice calls as its largest source of revenue.
The results highlight the accelerating digital transformation of Ethiopia’s telecommunications market, where mobile internet usage, digital financial services and broadband adoption are becoming increasingly important drivers of growth.
FY2025/26 Performance Highlights
| Metric | FY2025/26 | FY2024/25 | Change |
| Total Revenue | ETB 215.86 bn | ETB 162.30 bn | +33.0% |
| EBIT | ETB 92.90 bn | ETB 63.00 bn | +47.5% |
| EBITDA | ETB 113.10 bn | ETB 74.40 bn | +51.9% |
| EBITDA Margin | 54.4% | 45.8% | +8.6 percentage points |
| Capital Investment | ETB 75.66 bn | — | — |
| Cost Savings | ETB 14.60 bn | — | 142% of target |
| Total Subscribers | 90.12 million | 83.20 million | +8.3% |
| Telebirr Users | 60.59 million | 52.05 million | +16.4% |
| Telebirr Transactions | 2.61 billion | — | — |
| Telebirr Transaction Value | ETB 4.19 trillion | — | — |
| Remittance Revenue | USD 188.48 million | — | — |
| Fixed Broadband Subscribers | 1+ million | Below 1 million | Milestone |
Revenue Mix
| Business Segment | Share of Revenue | Annual Growth |
| Data & Internet | 31.1% | +42.5% |
| Voice Services | 23.5% | +12.3% |
| Telebirr | 3.6% | Continued growth |
Speaking during the company’s annual performance briefing, Chief Executive Officer Frehiwot Tamiru said the operator recorded 92.9 billion birr in earnings before interest and tax (EBIT), up 47.5 percent from 63 billion birr a year earlier. Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 51.9 percent to 113.1 billion birr, with the EBITDA margin improving to 54.4 percent.
The financial year marked the first year of Ethio Telecom’s Next Horizon: Digital & Beyond 2028 Strategy, a three-year roadmap aimed at expanding subscribers to 100 million, increasing Telebirr users to 75 million and generating more than 842 billion birr in cumulative revenue by 2028.
Frehiwot described the past fiscal year as an investment phase focused on strengthening network capacity and digital infrastructure.
“The first year was dedicated to infrastructure investment. The following year will be about value creation,” she said.
The company invested heavily during the year, capitalising 75.66 billion birr in network expansion and modernization projects.
One of the year’s most significant milestones was a structural shift in Ethio Telecom’s business model. Data and internet services generated 31.1 percent of total revenue, growing 42.5 percent year-on-year to become the company’s largest business segment for the first time. Voice services, long the backbone of telecom revenue, accounted for 23.5 percent after growing 12.3 percent, while Telebirr contributed 3.6 percent of total revenue.
The shift reflects changing consumer behaviour as smartphone adoption, video streaming, digital commerce and cloud-based services continue to expand across Ethiopia.
Telebirr also continued its rapid expansion, processing 2.61 billion transactions worth 4.19 trillion birr during the fiscal year. Since its launch, the mobile money platform has processed 4.5 billion transactions with a cumulative value of 9.13 trillion birr.
The platform added 12.7 million new users, bringing its customer base to 60.59 million, while Ethio Telecom’s overall subscriber base increased to 90.1 million, representing mobile penetration of 78.2 percent.
The company also crossed another milestone as its fixed broadband subscriber base exceeded one million for the first time, reflecting growing demand for high-speed internet services from households and businesses.
Beyond telecommunications, Ethio Telecom generated USD 188.48 million in remittance revenue during the fiscal year, reinforcing its growing role in Ethiopia’s expanding digital financial ecosystem.
Despite strong financial performance, Frehiwot acknowledged that geopolitical tensions, domestic security challenges and disruptions linked to developments in the Middle East increased operating costs during the year. However, she said the company’s resilience strategy helped mitigate those pressures.
Ethio Telecom also reported 14.6 billion birr in cost savings, exceeding its annual efficiency target by 42 percent.
The performance comes as Ethiopia continues liberalising its telecommunications sector. While Safaricom Ethiopia has entered the market as the country’s first private telecom operator, the government also plans to continue its partial privatization of Ethio Telecom following last year’s initial public offering.
Even as competition gradually increases, the latest results suggest Ethio Telecom is successfully transitioning from a traditional telecommunications provider into a broader digital services company, with mobile internet and digital financial services now emerging as the primary engines of future growth.