MTN Nigeria Communications Pic, MTN Nigeria, one of Africa’s largest providers of communications services which has a clear vision to lead the delivery of a bold, new digital world. today announces its unaudited results for the six months ended 30 June 2020.
In line with MTN Nigeria’s dividend policy, the Board of Directors has approved an interim dividend of N3.50 kobo per share to be paid out of distributable net income.
Major Highlights
- Service revenue increased by 12.6% to 637 Billion Naira
- Data revenue rose by 57.6%
- Revenue from digital services rose by 121.85
- Revenue from Fintech services (airtime lending and MOMO agent services) rose by 29.6%
- 6.8 Million users were added to the network bringing the total number of subscribers to 71.1Million
- 3.8 Million new data subscribers were added bringing active data users to 29 Million
- Mobile Money (MOMO) subscribers increased by 1.6Million to 2.2 Million
- 95% of debts are in local currency as such the balance sheet can withstand currency devaluations and volatility.
- Voice revenue accounted for 67.9% of Service revenue
- Data revenue is 24.2% of service revenue
- 4 Million new smartphones were added to the network within the period
- Operating Expenses rose by 24.1%
- PAT declined by 4.7% to 94.8 Billion
- Profit for the period was impacted by the increase in Finance costs as a result of increased from 295 Billion in June 2019 to 524 Billion in June 2020.
- Generated Net Cash from all activities of 120Billion of which operating cash flow was 213 Billion showing strong ability to generate cash.
Unless otherwise stated. financial information is year-on-year (YoY. H1 2020 versus H1 2019) and nonfinancial information is year-to-dare (lune 2020 versus December 2019).