0
Wireless

MTN Group H1 revenue rises 10% to ZAR 506 bln

Wednesday 8 August 2018 | 09:38 CET | News

MTN Group revenue increased by 9.7 percent to ZAR 505.67 billion in the first six months to 30 June from ZAR 432.28 billion in the same period in 2017. Service revenue increased by 10.2 percent, supported by growth in MTN Nigeria (up 17.0%), MTN Ghana (up 27.9%), MTN South Africa (up 2.9%) and MTN Uganda (up 8.8%). MTN Cameroon and MTN Ivory Coast reported 7.0 percent and 6.6 percent declines in service revenue respectively. Net profit increased to ZAR 73.39 billion from ZAR 40.64 billion in 2017. 

The group ended June with 223.4 million subscribers, up by 2.1 million from the end of March, and 71.2 million active data users. The number of active MTN Mobile Money customers increased to 24.1 million from 22.7 million three months earlier.

Group EBITDA increased by 17.0 percent to ZAR 217.87 billion in the first half, driven by increases of 31.5 percent, 5.7 percent and 34.7 percent at MTN Nigeria, MTN South Africa and MTN Ghana respectively and lower head office costs, which were partially offset by the performance of the WECA markets. The group EBITDA margin increased by 2.2 percentage points to 35.5 percent.

The group depreciation charge increased by 10.2 percent because of higher capex over the past few years. Amortisation costs rose by 17.6 percent, after higher expenditure on software in the previous period. Net forex losses declined by 60.3 percent because of lower losses in Nigeria after the operation settled a number of foreign-denominated expenses.

MTN reported headline earnings per share (HEPS) of ZAR 2.15 compared with ZAR 2.31 in the comparable period. HEPS were hit by a swing of ZAR 0.21 in associates and joint ventures, as well as ZAR 0.17 relating to the Nigeria fine interest (from ZAR 0.24 in H1 2017); hyperinflation (excluding impairments) of ZAR 0.27 (from ZAR 0.42 in H1 2017); and the impact of foreign exchange losses and gains of ZAR 0.21 (from ZAR 0.49 in H1 2017). Excluding these items, HEPS fell to ZAR 2.80 from ZAR 3.46.

Capex increased by 20.0 percent for the first half to ZAR 11.46 billion. MTN said it expects to spend around ZAR 25.5 billion over the full year. The company also declared an interim dividend of ZAR 1.75 per share. 



Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: Mobile & Wireless
Companies: MTN
Countries: Africa
::: add a comment

Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

MTN Irancell EBITDA increases by 16.7% in H1

Published 08 Aug 2018 11:14 CET | Iran (Islamic Republic of)
MTN Irancell's EBITDA increased by 16.7 percent in the first half to 30 June with the EBITDA margin increasing by 0.3 percentage ...

MTN Cameroon subscriber bases falls 6% in H1, service revenue drops by 7%

Published 08 Aug 2018 11:07 CET | Cameroon
MTN Cameroon's subscriber base declined by 5.9 percent from December 2017 to 6.6 million on 30 June in a difficult operating ...

MTN Cote d'Ivoire H1 service revenue declines by 6.6%

Published 08 Aug 2018 11:04 CET | Cote d'Ivoire
MTN Cote d'Ivoire's service revenue declined by 6.6 percent in the first six months to 30 June on weaker voice revenue in a ...

MTN Nigeria H1 EBITDA grows 31.5% to ZAR 9.08 bln

Published 08 Aug 2018 10:42 CET | Nigeria
MTN Nigeria's EBITDA increased by 31.5 percent to ZAR 9.09 billion in the first six months to 30 June year on year. The EBITDA ...

MTN Group halts USD 750 mln fibre plan in Iran over US sanctions - report

Published 01 Aug 2018 09:33 CET | Iran (Islamic Republic of)
MTN Group's USD 750 million plan to extend home fibre broadband connections to Iranian cities has been put on hold because of ...

MTN Nigeria schedules IPO for August - report

Published 09 Jul 2018 08:59 CET | Nigeria
MTN Nigeria's initial public offering (IPO) has been set for August and approved by Nigeria's Securities and Exchange Commission ...

MTN Ghana commences IPO

Published 29 May 2018 17:03 CET | Ghana
MTN Group announced that its subsidiary Scancom (MTN Ghana) has launched its initial public offering of shares, with the ...

MTN Group says trading positive in April

Published 25 May 2018 09:30 CET | Africa
MTN Group CEO Rob Shuter said the group continues to make encouraging progress with the execution of its 'Bright' strategy across ...

MTN says may struggle to repatriate cash from Iran with US sanctions

Published 09 May 2018 16:07 CET | Iran (Islamic Republic of)
MTN Group says the US decision to re-impose economic sanctions against Iran may limit the company's ability to repatriate cash, ...

MTN Group adds 4.1 mln new subscribers in Q1

Published 03 May 2018 14:31 CET | Africa
MTN Group added 4.1 million new subscribers in the first quarter, ending March with a total of 221.3 million in 22 countries ...

MTN Group reports organic revenue growth of 6.8% for 2017, despite drop in subscribers

Published 08 Mar 2018 10:29 CET | Africa
MTN Group said its revenue increased by 6.8 percent on an organic basis to ZAR 132.8 billion in 2017. Underlying service revenue ...





share prepaid 45% of all Sims
Germany  |  2018 Q1