MTN Nigeria – Interim Financials For H1 2018


Tuesday, August 14, 2018    15.44PM   /  News

Related Private Information Reports

1.       December 2015 Annual Financial Statements

2.      December 2016 Annual Financial Statements

3.      December 2017 Annual Financial Statements

4.      MTN Nigeria IPO Teaser


MTN Nigeria: Selected condensed consolidated interim financial information for the six months ended 30 June 2018



1.       Service revenue increased by 17,0%*

2.      Data revenue increased by 63,7%*

3.      Digital revenue decreased by 24,8%*

4.      EBITDA grew by 31,5%* to R9 094 million*

5.      EBITDA margin increased by 4,7pp* to 43,0%*

6.      Capex increased by 0,5%*


MTN Nigeria performed ahead of expectations, with double-digit growth in voice revenue driving accelerated service revenue growth and the further widening of the EBITDA margin. Increased usage and growth in data subscribers supported data revenue growth. Digital revenue declined as a result of further optimisation of our VAS business. Towards the end of the second quarter, net additions and revenue growth slowed in line with economic activity,  as well as some seasonality. We expect this trend to continue in the third quarter, with an

improved performance expected in the fourth quarter.


The subscriber base expanded by 5,6% from December 2017 to 55,2 million.


MTN Nigeria continued work to improve customer experience and recorded steady growth in overall NPS, supported by increased efforts to improve network quality and availability.


The company reported an increase in the number of active MoMo customers to nearly 2,2 million. The enterprise business performed well.


MTNN made good progress on our plans to list MTN Nigeria on the Nigerian Stock Exchange. MTNN does not expect any material cash inflows to the group from the IPO.


Condensed consolidated statement of profit or loss for the

Proshare Nigeria Pvt. Ltd.


Condensed consolidated statement of comprehensive income for the

Proshare Nigeria Pvt. Ltd.



Condensed consolidated statement of financial position as at

Proshare Nigeria Pvt. Ltd.


Condensed consolidated statement of changes in equity for the

Proshare Nigeria Pvt. Ltd.



Condensed consolidated statement of cash flows for the


Proshare Nigeria Pvt. Ltd.


The joint independent auditors’ review report does not report on all of the information contained in this announcement/financial results. Shareholders are therefore advised that in order to obtain a full understanding of the nature of the joint auditors’ engagement they should obtain a copy of the auditors’ report together with the accompanying financial information from the issuer’s registered office. This information has not been audited or reviewed.


Proshare Nigeria Pvt. Ltd. 

Related Private Information Reports

1.       December 2015 Annual Financial Statements

2.      December 2016 Annual Financial Statements

3.      December 2017 Annual Financial Statements

4.      MTN Nigeria IPO Teaser

Proshare Nigeria Pvt. Ltd.



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