MTN Group expects big jump in FY earnings after tower sales

News Wireless Africa 5 FEB 2021
MTN Group expects big jump in FY earnings after tower sales

MTN Group said it expects earnings per share (EPS) between ZAR 8.86 and ZAR 9.87 for the year 2020. This would be a rise of 75-95 percent on the ZAR 5.06 reported for 2019, due mainly to one-time gains on tower sales. MTN expects to publish its year-end results on 10 March.

In a trading statement, MTN said the EPS include impairment losses of about ZAR 1.55 relating mostly to MTN Syria, MTN Yemen, MTN Guinea Bissau, MTN Liberia and BICS, offset by the ZAR 3.41 benefit from the disposal of the ATC Uganda and ATC Ghana tower joint ventures.

Headline earnings per share (HEPS) are expected up 50-70 percent compared to ZAR 4.68 in 2019. This equates to HEPS for the period of between ZAR 7.02 and ZAR 7.96. The mobile operator said HEPS were negatively impacted by non-operational items of ZAR 1.18 per share compared with ZAR 1.11 in 2019, mostly related to foreign exchange losses.

Categories:

Mobile

Companies:

MTN,  MTN Syria,  MTN Yemen,  MTN Liberia

Regions:

Africa

Tags:

Financial figures, Wireless

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