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UPDATED: MTN Nigeria Increases Subscribers Base by 7.6% to 74.1 million in H1 2022

UPDATED: MTN Nigeria Increases Subscribers Base by 7.6% to 74.1 million in H1 2022

MTN Nigeria, the leading telecommunication operator, increased its subscriber base by 7.6% in the first half of Nigeria (H1 2022).

According to data released by MTN Nigeria Communications Plc., obtained by TechEconomy, the company added 5.7 million subscribers in H1 2022. This brings the total number of subscriber as at the quarter to 74.1 million.

The publications below were released on Friday 29 July 2022 on the NGX:

  • MTN Nigeria Dividend Information H1 2022
  • MTN Nigeria Earnings Release H1 2022
  • MTN Nigeria Unaudited Financial Statements H1 2022

MTN Nigeria Dividend Information H1 2022

MTNN Plc has proposed an interim dividend of N5.60k per 2 kobo ordinary shares subject to appropriate deduction of withholding tax and will be paid to shareholders whose names appear in the register of members as at close of business on 18 August 2022.

Click here to view full publication.

MTN’s Earnings Release H1 2022

Salient Points:

  • Mobile subscribers increased by 7.6% to 74.1 million; added 5.7 million subscribers in H1 2022
  • Active data users increased by 13.2% to 36.8 million; added 2.5 million active users in H1 2022
  • Active Fintech subscribers rose by 87.3% to 11.5 million; 4.2 million registered (2.4 million active) MoMo wallets since launch of PSB on 19 May 2022
  • Service revenue increased by 19.9% to N947.9 billion
  • Earnings before Interest, tax, depreciation, and amortization (EBITDA) grow by 22.1% to N509.3 billion
  • EBITDA margin increased by 0.9 % points (pp) to 53.6%
  • Profit before tax (PBT) grew by 24.9% to N268.6 billion
  • Profit after tax (PAT) grew by 28.1% to 181.6 billion
  • Earnings per share (EPS) rose by 28.1% to N8.92 kobo
  • Capital expenditure (Capex) rose by 67.1% to N311.6 billion (up 78.6% to N204.5 billion, excluding right of use assets)
  • Interim dividend of N5.60 kobo per share, up by 23.1%

Commenting on the report, Karl Toriola, CEO MTN Nigeria, said they made good progress during the period under review.

“During the first half of 2022, we made good progress in strengthening the resilience of the business in the face of our increasingly challenging operating environment with rising energy, food and general inflation putting pressure on consumer spending.

“The conflict in Ukraine as well as implementation of a ‘zero-COVID’ policy in China, has also put a strain on global food supply chains. To mitigate global supply chain and exchange rate risks, we accelerated capital expenditure for network expansion into the H1 2022.

“We deployed CAPEX of N311.6 billion to accelerate the rollout of our 4G network, which now covers 75.3% (compared to 65.1% in H1 2021) of the population and accounts for 77.9% of data traffic (compared to 67.2% in H1 2021).

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