MTN NIGERIA’S Earnings Before Interest, Taxes, Depreciation and Amortization, EBITDA, in 2018, has been put at N453.1 billion. It added six million subscribers to its network the same year. The year 2018 EBITDA represented 30.8 per cent profit growth, while the added six million subscribers fetched MTN total 58 million network subscribers.
Service revenue increase by 17.2 per cent, data revenue increase by 39.3 per cent, digital revenue decrease by 58.1 per cent, Fintech revenue increase by 32.7 per cent, and an EBITDA margin increase by 4.5 per cent to a total 43.6 per cent (excl CBN payment).
MTN Nigeria disclosed these figures in an annual report released, Thursday, in Lagos. It also disclosed the intention of the communication to be listed by introduction on Nigerian Stock Exchange, NSE, in first half of 2019.
Mr Ferdi Moolman, CEO, MTN Nigeria, commenting on the result that said: “This growth was built on our sustained focus on customer centric delivery – ensuring that customers get much more value for their money. This included deployment of proactive interventions to improve customer experience, together with enhancement of network quality and coverage, and optimisation of our services portfolio”.
“We also enabled an additional eight million people to access the possibilities that the internet provides, bringing our total data subscriber base to 44 million, of which 18.7 million use more than five megabytes per month. We are now even better positioned to ensure that everyone can access the benefits of a modern connected life”, Moolman added.
Moolman thanked partners and regulators of MTN Nigeria for their contributions. MTN Nigeria, according to Moolman, understood how access to opportunities, aided by internet, open up new industries even in the remotest areas. He said there was the need to continue to focus on delivering social innovations such as mobile electricity and financial services for all.
The communication company would leverage on its technology to enable high-impact mobile solutions in education, health and agriculture in communities. “MTN plans to list by introduction on the Nigerian Stock Exchange during the first half of 2019, and is looking to simplify the capital structure ahead of this listing”.
Moolman said: “The company’s listing on the exchange will create a new telecoms asset class for investors and provide an opportunity for a wider group of Nigerians to participate in our investment story”.