MTN Nigeria recorded N453.1 billion Earnings Before Interest,
Taxes, Depreciation and Amortization (EBITDA) in 2018.
The communications company also attracted additional six million
subscribers to its network in the year.
The company made the disclosure in its annual report released on
Thursday in Lagos.
It said that the six million subscribers brought the total
number of subscribers in its network to 58 million, adding that the
2018 EBITDA represented 30.8 percent profit growth.
MTN Nigeria also disclosed its intention to list by introduction
on the Nigerian Stock Exchange in the first half of 2019.
The report showed a service revenue increase by 17.2 percent,
data revenue increase by 39.3 percent, digital revenue decrease by
58.1 percent and Fintech revenue increase by 32.7 percent.
It also showed an EBITDA margin increase by 4.5 percent to a
total 43.6 percent (excl CBN payment).
Commenting on the results, the Chief Executive Officer of MTN
Nigeria, Mr Ferdi Moolman, 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 thanked MTN Nigeria partners and regulators for their
contributions.
He said that the company understood how access to opportunities
enabled by the internet could open up new industries even in the
remotest areas.
The chief executive officer said that there was the need to
continue to focus on delivering social innovations such as mobile
electricity and financial services for all.
He said that the 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.
“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,’’
he added.
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