Unaudited results MTN Nigeria, for the six months ended 30 June 2019, show that the organisation has grown in service, voice, data and fintech revenue.
During the period, mobile subscribers increased by 3,3-million to 61,5-million.
Service revenue increased by 12,2%; voice revenue increased by 11,4%; data revenue increased by 31,7%; fintech revenue increased by 21,2%.
However, digital revenue decreased by 64,5% over the period.
EBITDA grew by 40% to N304,9-billion, with an EBITDA margin up by 10,7 percentage points to 53,8%. Capex increased by 63,8% to N105,8-billion.
MTN Nigeria CEO Ferdi Moolman comments: “In the first half of 2019, we sustained a solid performance, delivering double-digit growth in service revenue, underpinned by growth in voice and data revenue.
“We added 3,3-million customers to our network, increasing our subscriber base to 61,5-million. Pleasingly, we saw data subscribers increase in the period by 2,1-million to 20,7-million.
“We made significant network investments to improve network quality and expand our 4G coverage. Our recent work to revamp our data prices and accelerate our 4G network has put us in a strong competitive position to offer more value to our customers, supporting data and voice revenue growth which will ultimately strengthen our business.
“We are pleased with obtaining a super-agent licence from the Central Bank of Nigeria, which will enable us to build an agent network and accelerate the growth of our fintech business.”
In May, MTN Nigeria was successfully listed on the Nigerian Stock Exchange (NSE), making it the first mobile network operator to list on the NSE.
“The listing demonstrates our commitment to the Nigerian market and provides local investors with an opportunity to participate in and benefit from the company’s growth prospects,” says Moolman.
MTN Nigeria Communications is one of Africa’s largest providers of communications services, connecting over 61-million people in communities across the country with each other and the world.