MTN, for the six-month period ended 30 June 2023, reported that group service revenue grew by 16,5% to R107,7-billion.
EBITDA (before once-off items) grew by 12% to R49,4-billion, EBITDA margin was lower by 1,7 percentage points (pp) to 43,6%.
Profit before tax (PBT) decreased by 1,4% to R18,3-billion.
Basic earnings per share (EPS) increased by 14,8% to 511cp and headline earnings per share (HEPS) were up by 7,1% to 542cps. No interim dividend was declared.
The company increased its total subscribers by 3,6% to 291,7-million.
During the reporting period, MTN concluded a memorandum of understanding (MOU) with Mastercard for minority investment into MTN Group Fintech based on a $5,2-billion valuation and commercial agreements to support acceleration of payments and remittance verticals.
Ralph Mupita, group president and CEO of MTN, comments: “In the first half of 2023, MTN continued to demonstrate the resilience of its business model through the execution of our Ambition 2025 strategy. Operating conditions remained challenging due to ongoing pressures in the macroeconomic, geopolitical and regulatory environments across our markets.”