The pan-African telecommunications group MTN, published Thursday, August 11, its financial results for the half-year ended June 30, 2022. It shows a net profit of 10 billion rand (607 million USD), up 149% compared to the same period of 2021.
As for services revenues, they increased by 15% to reach 92.5 billion rand (6 billion USD). Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 15% to reach 43.9 billion rand (3 billion USD). For its part, the EBITDA margin increased by 0.3 percentage point to 45.3%.
This performance is due to the targeted execution of the expenditure efficiency program which was largely under control.
Regarding data revenues, they experienced an increase of 35.9%, driven by MTN Nigeria, MTN Ghana, MTN Cameroon and MTN South Africa.
The fintech platform registered 60.7 million Mobile Money users, up 24% year-on-year. This generated 6 billion transactions worth 116.3 billion USD.
The total number of MTN subscribers during the reporting period was 281.6 million, up 5.6%.
In addition, the group indicated that it had accelerated the transformation of its portfolio, which generated 9.2 billion rand (559 million USD) in asset realizations in the first half. This brought the total achieved since March 2020 to 15.8 billion rand (960 million USD).
“Despite a very difficult global context marked by inflation and difficult macroeconomic and geopolitical and regional conditions, our group managed to achieve solid performances during the first half of 2022. And our objective is to continue on this dynamic”, has said Ralph Mupita, CEO of MTN Group
Founded in 1994, the South African multinational is present in 22 countries in Africa and the Middle East. It is currently considered one of the leading African telecom operators in terms of revenue and mobile subscribers.
