MTN revealed its interim financial results for the six months ended 30 June 2014, at a press conference in Johannesburg on 7 August 2014.
According to MTN Group President and CEO, Sifiso Dabengwa: “The MTN Group delivered a solid operational performance for the six-month period to 30 June 2014. Good growth was experienced in data and MTN Mobile Money usage but voice revenue continued to be impacted by aggressive competition, regulatory pressures and a weakening economic environment in key markets. MTN Nigeria delivered a robust performance in line with market expectations, however the South African operation remained under pressure and steps were taken to improve its performance. The Group continued to benefit from the ongoing investment in its network, which enhances MTN’s offering and positions us well for sustained growth.”
“MTN made good progress on delivering on our strategy in the period. The Group continues to improve operational and cost effectiveness as well as explore opportunities to expand our product offering outside of traditional voice into the digital space. Furthermore, the Group continues to benefit from our ongoing investment in the network, which enhances MTN’s offering and positions us for further growth,” he concluded.
· Group subscribers up 3,5% to 215,0 million
· Revenue increased by 10,7% (4,1%*) to R72 759 million
· MTN Nigeria revenue 21,5% (8,0%*) higher at R27 099 million
· MTN South Africa revenue 7,0% (3,4%**) lower at R19 157 million
· Data revenue increased by 38,9% (33,1%*) to R12 708 million
· Data users 7,3% higher at 88,5 million
· MTN Mobile Money subscribers up 24,3% to 18,4 million
· EBITDA increased by 19,6%***(10,6%*) to R33 663 million
· EBITDA margin widened 3,5 percentage points to 46,3%***
· MTN Nigeria EBITDA increased by 11,3%**** to R16 280 million
· HEPS 9,0% up at 729 cents
· Interim dividend up 20,3% to 445 cents per share
Dabengwa gave IT News Africa an exclusive comment on the results.