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MTN Group’s greatest operation, MTN Nigeria Communications, has turned in a robust set of economic outcomes for the yr ended December 31, 2021, with margin enchancment throughout the board and a spike in income.
Operational margins – calculated utilizing earnings earlier than curiosity, tax, depreciation and amortisation (Ebitda) – climbed by 2.1 proportion factors to 53%. Revenue after tax and earnings per share jumped by 45.5% every to ₦298.7 billion (R11.2 billion) and ₦14.67 kobo respectively.
The corporate hiked its full-year dividend by nearly 40% to ₦8.57 kobo per share.
The sturdy numbers, which despatched MTN Group’s shares in Johannesburg to a near-seven-year excessive on Monday morning above R188/share, got here regardless of a ten.6% decline within the Nigerian firm’s cell subscriber base – impacted by regulatory restrictions on new Sim gross sales and activations.
Service income grew by 23.3%, exceeding the group’s mid-teens goal, pushed primarily by voice, knowledge and fintech providers. MTN has now determined revised the medium-term goal for service income development to north of 20%, suggesting there’s momentum behind the most recent efficiency.
Key metrics
Different key metrics included:
- Free money move climbed by 31.1%;
- Voice income grew by 8.4% (from a 7.9% enhance in minutes of use);
- Knowledge income rose by 55.3%, underpinned by funding within the firm’s 4G community, which now covers greater than 70% of the Nigerian inhabitants;
- Common knowledge consumed per consumer rose by 62.7%, enabling general knowledge site visitors development of 85.3%. Smartphone penetration grew by 4 proportion factors to succeed in 50%;
- Fintech income rose by 57.3% as a result of sustained development in using a product referred to as Xtratime product and broader fintech providers use by clients; and
- Cellular Cash transaction quantity rose by 167% from an energetic consumer base of 9.4 million, up 102%.
- Capital expenditure for the yr rose by 36.7% to ₦408.3 billion (R15.3 billion), together with spending on 9 336 new 4G websites. “Capex depth remained inside goal ranges at 18.4%,” MTN mentioned.
Duncan McLeod is editor of TechCentral, on which this text was first printed right here.
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