Shareholders Win Big As MTN Report 35% To 45% Higher Earnings

MTN Nigeria Trades N149 billion In Shares For Cash Dividends
MTN Nigeria Trades N149 billion In Shares For Cash Dividends
Shareholders who bought MTN shares should brace them up for massive profits as telecom giant MTN announces reports of 35% to 45% higher earnings per share and 12% to 22% higher headline earnings per share than last year.

According to myBroadBrand reports, MTN disclosed that it was finalizing its results for the year ending December 31, 2022. According to JSE’s listing requirements, it is stipulated that companies are mandated to disclose trading statements when they are certain of a difference of up to 20% from the previous year in their financial reports.

MTN disclosed that its earnings per share would be around R2.67 and R3.43 which is higher than what was recorded for the 2021 financial year. It also highlighted revenue from last year consisted of losses on the deconsolidation of subsidiaries of R2.62 and a fair value gain on the acquisition or disposal of R0.99 cents.

“These are both nil for the 2022 financial year,” MTN disclosed.

MTN earnings per share, however, does not consider impairment losses that relate to investments, goodwill, property, plant, and equipment of approximately -R0.44(2021 -R0. 44 (2021: -R0.64); an impairment loss on remeasurement of disposal groups of -R0.70 (2021: -R0.02); a net gain on the disposal of SA towers of R0.22 (2021: nil); and the net profit on the removal of property, plant, and equipment and intangible assets of R0.09 cents (2021: R0.05 cents) (2021: R0.05 cents).

Also according to MyBroadBrand reports, MTN also expects its headline earnings per share to rise between R1.18 and R2.27. It states that headline earnings shares were negatively affected by some non-operational and once-off items of approximately -R1.59 (2021: -R1.23), which also includes These include hyperinflation adjustments (R1.25), foreign exchange losses (-R1.81), an IFRS 2 charge arising from the MTN Ghana localization transaction (-R0.04), divestments (-R0.24), remeasurement of deferred tax assets (-R0.65), and other non-operational items (-R0.10).