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MTN hits jackpot in Nigeria

by CredibleNews

MTN Nigeria has released its quarter three results for the nine months ended September 30, posting increased Earnings Before Interest, Tax, Depreciation and Amortisation, EBITDA, by 39.3 percent to N460.1 billion and an increased subscriber number by 0.1 million to reach 61.6 million subscribers.

It also showed increased active data subscribers by 1.6 million to reach 22.3 million active data users on its network.

EBITDA’s margin increased to 53.7 percent, while earnings per share rose by 29 percent to N7.29k, with increased capital expenditure (Capex) by 39.5 percent to N154.1 billion.

CEO, Ferdi Moolman, while analysing the Q3 financial results, said the bottom-line remained strong with a growth of 24.0 percent and 28.9 percent respectively in profit before and after tax.

“Our company’s performance is very encouraging, demonstrating the resilience of our business despite a challenging operating environment. We sustained double-digit growth in service revenue led by growth in voice and data revenue.

‘‘We recorded 61.6 million subscribers, representing a 0.1 million increase QoQ. We were required to undertake a SIM re-registration process which resulted in a disconnection of around 0.6 million active subscribers, limiting base growth.

“During the quarter, we focused on the end-to-end optimisation and repositioning of our data offerings. We made significant investments in accelerating 4G network expansion; and leveraging 800MHz spectrum activated in Q2 2019, we launched enhanced 4G+ services in Lagos, Abuja, and Port-Harcourt. We also changed our pricing strategy,” he explained.



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