From Benjamin a ameh, Lagos
The MTN Group delivered a solid operational performance for the six-month period to June30, 2014 at a press conference in Johannesburg on August7, 2014.
According to MTN Group President and CEO, Sifiso Dabengwa who was represented by Darryl Linington at event said “The MTN Group delivered a solid operational performance for the period under review shown good growth was experienced in data and MTN Mobile Money usage but voice revenue continued to be impacted by aggressive competition, regulatory pressures and a weakening economic environment in key markets. MTN Nigeria delivered a robust performance in line with market expectations, however the South African operation remained under pressure and steps were taken to improve its performance. The Group continued to benefit from the ongoing investment in its network, which enhances MTN’s offering and positions us well for sustained growth.”
“MTN made good progress on delivering on our strategy in the period. The Group continues to improve operational and cost effectiveness as well as explore opportunities to expand our product offering outside of traditional voice into the digital space. Furthermore, the Group continues to benefit from our ongoing investment in the network, which enhances MTN’s offering and positions us for further growth,” Dabengwa concluded.
Highlights of the financial performance
Group subscribers grew up to 3,5% representing 215,0 million, Revenue also soared by 10,7% (4,1%*) to R72 759 million, MTN Nigeria revenue upto 21,5% (8,0%*) higher at R27 099 million while MTN South Africa revenue 7,0% (3,4%**) lower at R19 157 million. Also Data revenue hits on increased by 38,9% (33,1%*) to R12 708 million with Data users anchored on 7,3% higher at 88,5 million including MTN Mobile Money subscribers up 24,3% to 18,4 million
EBITDA increased by 19,6%***(10,6%*) to R33 663 million, however EBITDA margin widened 3,5 percentage points to 46,3%***
MTN Nigeria recorded EBITDA increased by 11,3%**** to R16 280 million while HEPS 9,0% up at 729 cent with interim dividend up 20,3% to 445 cents per share.