Price Target Changed • May 20
Price target increased by 23% to GH₵7.67 Up from GH₵6.25, the current price target is an average from 2 analysts. New target price is 17% above last closing price of GH₵6.53. Stock is up 94% over the past year. The company is forecast to post earnings per share of GH₵0.81 for next year compared to GH₵0.59 last year. Annuncio • Mar 05
Scancom Plc, Annual General Meeting, Mar 24, 2026 Scancom Plc, Annual General Meeting, Mar 24, 2026. Location: upsa auditorium, accra Ghana Annuncio • Mar 07
Scancom Plc, Annual General Meeting, Mar 27, 2025 Scancom Plc, Annual General Meeting, Mar 27, 2025. Reported Earnings • Nov 01
Third quarter 2024 earnings released: EPS: GH₵0.11 (vs GH₵0.081 in 3Q 2023) Third quarter 2024 results: EPS: GH₵0.11 (up from GH₵0.081 in 3Q 2023). Revenue: GH₵4.66b (up 33% from 3Q 2023). Net income: GH₵1.43b (up 34% from 3Q 2023). Profit margin: 31% (in line with 3Q 2023). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Global Wireless Telecom industry. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. New Risk • Oct 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Ghanaian stocks, typically moving 3.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (3.4% average weekly change). Shareholders have been diluted in the past year (7.7% increase in shares outstanding). Declared Dividend • Aug 04
First half dividend of GH₵0.06 announced Shareholders will receive a dividend of GH₵0.06. Ex-date: 14th August 2024 Payment date: 6th September 2024 Dividend yield will be 9.2%, which is higher than the industry average of 3.6%. Sustainability & Growth Dividend is covered by both earnings (65% earnings payout ratio) and cash flows (74% cash payout ratio). The dividend has increased by an average of 50% per year over the past 6 years and payments have been stable during that time. Earnings per share has grown by 39% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 02
Second quarter 2024 earnings released: EPS: GH₵0.092 (vs GH₵0.067 in 2Q 2023) Second quarter 2024 results: EPS: GH₵0.092 (up from GH₵0.067 in 2Q 2023). Revenue: GH₵4.26b (up 30% from 2Q 2023). Net income: GH₵1.22b (up 26% from 2Q 2023). Profit margin: 29% (in line with 2Q 2023). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Wireless Telecom industry in Africa. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 02
First quarter 2024 earnings released: EPS: GH₵0.084 (vs GH₵0.061 in 1Q 2023) First quarter 2024 results: EPS: GH₵0.084 (up from GH₵0.061 in 1Q 2023). Revenue: GH₵3.85b (up 33% from 1Q 2023). Net income: GH₵1.11b (up 49% from 1Q 2023). Profit margin: 29% (up from 26% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Wireless Telecom industry in Africa. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Mar 26
Now 22% undervalued Over the last 90 days, the stock has risen 14% to GH₵1.60. The fair value is estimated to be GH₵2.06, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Earnings per share has grown by 33%. Revenue is forecast to grow by 44% in 2 years. Earnings are forecast to grow by 28% in the next 2 years. Upcoming Dividend • Mar 19
Upcoming dividend of GH₵0.16 per share Eligible shareholders must have bought the stock before 26 March 2024. Payment date: 12 April 2024. Payout ratio is a comfortable 75% and this is well supported by cash flows. Trailing yield: 14%. Within top quartile of Ghanaian dividend payers (12%). Higher than average of industry peers (6.7%). Annuncio • Mar 05
Scancom Plc, Annual General Meeting, Mar 22, 2024 Scancom Plc, Annual General Meeting, Mar 22, 2024, at 11:00 Coordinated Universal Time. Location: Grand Arena of the Accra International Conference Centre Accra Ghana Agenda: To receive and consider the Audited Financial Statements together with the reports of the Directors and Auditors thereon for the year ended December 31, 2023; to declare a final dividend for the year ended December 31, 2023; To re-elect or appoint the Independent Non-Executive Directors of the Company; to approve Directors' fees for the financial year 2024; and to authorize the Directors to fix the remuneration of the Auditor for the financial year 2024. New Risk • Mar 04
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 7.7% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (7.7% increase in shares outstanding). Reported Earnings • Mar 01
Full year 2023 earnings released: EPS: GH₵0.30 (vs GH₵0.23 in FY 2022) Full year 2023 results: EPS: GH₵0.30 (up from GH₵0.23 in FY 2022). Revenue: GH₵13.4b (up 35% from FY 2022). Net income: GH₵3.98b (up 39% from FY 2022). Profit margin: 30% (up from 29% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 7.0% growth forecast for the Wireless Telecom industry in Africa. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Annuncio • Dec 07
MTN Ghana Appoints Stephen Blewett as the New CEO, Effective from 1 April 2024 Stephen Blewett has been appointed as the new CEO of MTN Ghana, effective 1 April 2024. According to the group, Blewett re-joined MTN in July 2023 as operations executive for markets, tasked with the responsibility of taking care of the smaller West and Central Africa (WECA) markets, and providing broader operations support to the senior VP for markets across the overall WECA region. Prior to Blewett re-joining MTN, he was at Digicel, where he held the position of COO. He previously spent seven years within the group in CEO roles for MTN Benin and then MTN Cameroon. He currently sits on various boards within the WECA market operating companies, some of which as chairman. New Risk • Nov 13
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported March 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Upcoming Dividend • May 10
Upcoming dividend of GH₵0.11 per share at 13% yield Eligible shareholders must have bought the stock before 17 May 2023. Payment date: 22 June 2023. Payout ratio is a comfortable 71% and this is well supported by cash flows. Trailing yield: 13%. Lower than top quartile of Ghanaian dividend payers (15%). Higher than average of industry peers (6.0%). Price Target Changed • Mar 23
Price target increased by 27% to GH₵1.93 Up from GH₵1.52, the current price target is provided by 1 analyst. New target price is 48% above last closing price of GH₵1.30. Stock is up 23% over the past year. The company posted earnings per share of GH₵0.23 last year. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to GH₵1.10, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 11x in the Wireless Telecom industry in Africa. Total returns to shareholders of 111% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at GH₵1.61 per share. Reported Earnings • Mar 03
Full year 2022 earnings released: EPS: GH₵0.23 (vs GH₵0.16 in FY 2021) Full year 2022 results: EPS: GH₵0.23 (up from GH₵0.16 in FY 2021). Revenue: GH₵9.92b (up 28% from FY 2021). Net income: GH₵2.86b (up 43% from FY 2021). Profit margin: 29% (up from 26% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Wireless Telecom industry in Africa. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Executive Officer Tsholo Molefe was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • May 04
Upcoming dividend of GH₵0.078 per share Eligible shareholders must have bought the stock before 11 May 2022. Payment date: 16 June 2022. Payout ratio is a comfortable 62% and this is well supported by cash flows. Trailing yield: 12%. Within top quartile of Ghanaian dividend payers (9.6%). Higher than average of industry peers (4.4%). Reported Earnings • Apr 28
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: GH₵0.058 (up from GH₵0.037 in 1Q 2021). Revenue: GH₵2.36b (up 34% from 1Q 2021). Net income: GH₵707.5m (up 54% from 1Q 2021). Profit margin: 30% (up from 26% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 6.7%. Earnings per share (EPS) also surpassed analyst estimates by 30%. Over the next year, revenue is forecast to grow 22%, compared to a 13% growth forecast for the industry in Africa. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Price Target Changed • Apr 27
Price target increased to GH₵1.58 Up from GH₵0.90, the current price target is provided by 1 analyst. New target price is 58% above last closing price of GH₵1.00. Stock is down 3.8% over the past year. The company is forecast to post earnings per share of GH₵0.21 for next year compared to GH₵0.16 last year. Board Change • Apr 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Executive Officer Tsholo Molefe was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 02
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: GH₵0.16 (up from GH₵0.11 in FY 2020). Revenue: GH₵7.72b (up 28% from FY 2020). Net income: GH₵2.00b (up 44% from FY 2020). Profit margin: 26% (up from 23% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 6.7%. Earnings per share (EPS) also surpassed analyst estimates by 30%. Over the next year, revenue is forecast to grow 12%, compared to a 8.7% growth forecast for the industry in Africa. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 30
Second quarter 2021 earnings released: EPS GH₵0.034 (vs GH₵0.028 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: GH₵1.87b (up 28% from 2Q 2020). Net income: GH₵407.9m (up 20% from 2Q 2020). Profit margin: 22% (down from 23% in 2Q 2020). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment improved over the past week After last week's 25% share price gain to GH₵1.25, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 13x in the Wireless Telecom industry in Africa. Total returns to shareholders of 120% over the past year. Upcoming Dividend • May 05
Upcoming dividend of GH₵0.046 per share Eligible shareholders must have bought the stock before 12 May 2021. Payment date: 04 June 2021. Trailing yield: 6.5%. Lower than top quartile of Ghanaian dividend payers (6.7%). Higher than average of industry peers (5.0%). Valuation Update With 7 Day Price Move • May 04
Investor sentiment improved over the past week After last week's 19% share price gain to GH₵1.14, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 12x in the Wireless Telecom industry in Africa. Total returns to shareholders of 75% over the past year. Reported Earnings • Apr 29
First quarter 2021 earnings released: EPS GH₵0.037 (vs GH₵0.028 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: GH₵1.75b (up 22% from 1Q 2020). Net income: GH₵460.3m (up 32% from 1Q 2020). Profit margin: 26% (up from 24% in 1Q 2020). The increase in margin was driven by higher revenue. Price Target Changed • Feb 27
Price target raised to GH₵1.29 Up from GH₵0.90, the current price target is provided by 1 analyst. The new target price is 57% above the current share price of GH₵0.82. As of last close, the stock is up 17% over the past year. Is New 90 Day High Low • Feb 27
New 90-day high: GH₵0.82 The company is up 37% from its price of GH₵0.60 on 27 November 2020. The Ghanaian market is up 26% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Wireless Telecom industry, which is up 9.0% over the same period. Reported Earnings • Feb 27
Full year 2020 earnings released: EPS GH₵0.11 (vs GH₵0.082 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: GH₵6.05b (up 17% from FY 2019). Net income: GH₵1.39b (up 38% from FY 2019). Profit margin: 23% (up from 20% in FY 2019). The increase in margin was driven by higher revenue. Analyst Estimate Surprise Post Earnings • Feb 27
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 0.4%. Earnings per share (EPS) missed analyst estimates by 16%. Over the next year, revenue is forecast to grow 21%, compared to a 7.0% growth forecast for the Wireless Telecom industry in Africa. Annuncio • Feb 26
Scancom Plc, Annual General Meeting, May 25, 2021 Scancom Plc, Annual General Meeting, May 25, 2021. Is New 90 Day High Low • Feb 04
New 90-day high: GH₵0.70 The company is up 15% from its price of GH₵0.61 on 06 November 2020. The Ghanaian market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Wireless Telecom industry, which is up 11% over the same period. Is New 90 Day High Low • Jan 09
New 90-day high: GH₵0.65 The company is up 7.0% from its price of GH₵0.61 on 09 October 2020. The Ghanaian market is up 4.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Wireless Telecom industry, which is up 14% over the same period. Is New 90 Day High Low • Dec 17
New 90-day high: GH₵0.63 The company is up 5.0% from its price of GH₵0.60 on 18 September 2020. The Ghanaian market is up 1.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Wireless Telecom industry, which is up 8.0% over the same period. Reported Earnings • Oct 31
Third quarter earnings released Over the last 12 months the company has reported total profits of GH₵1.37b, up 63% from the prior year. Total revenue was GH₵5.90b over the last 12 months, up 20% from the prior year. Is New 90 Day High Low • Oct 21
New 90-day high: GH₵0.62 The company is up 11% from its price of GH₵0.56 on 23 July 2020. The Ghanaian market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Wireless Telecom industry, which is up 3.0% over the same period. Annuncio • Sep 12
Scancom Plc to Report First Half, 2020 Results on Jul 30, 2020 Scancom Plc announced that they will report first half, 2020 results on Jul 30, 2020 
