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MTN Nigeria’s Revenue Increased by 18% in the Second Quarter.
MTN Nigeria’s Revenue Increased by 18% in the Second Quarter.
In the second quarter to June, according to MTN Nigeria, revenues increased by 18.0 percent to NGN 479.10 billion from NGN 405.95 billion in the corresponding period in 2021.
With an increase in EBITDA of 18.6% to NGN 252.17 billion from NGN 212.66 billion, the EBITDA margin increased to 52.6 percent from 52.4 percent. From NGN 96.58 billion to NGN 149.16 billion, capex increased by 54.4 percent. From NGN 68.09 billion to NGN 84.81 billion, net profit increased by 24.6%.
For the first six months, revenue increased by 20.1 percent to NGN 950.09 billion from NGN 971.26 billion in H1 2021. Net profit climbed by 28.1 percent to NGN 181.63 billion from NGN 141.83 billion.
First-half EBITDA grew by 22.1 percent to NGN 509.32 billion from NGN 417.21 billion, resulting in an EBITDA margin of 53.6 percent, up from 52.7 percent. Capex increased by 67.1 percent to NGN 311.64 billion from NGN 186.45 billion.
The total number of mobile subscribers increased by 7.6 percent to 74.1 million from 68.9 million on 30 June 2021.
MTN added 5.7 million subscribers in the first half of the year. Active data users grew by 2.5 million or 13.2 percent to 36.8 million compared with the same period in 2021.
Active fintech subscribers increased by 87.3 percent or 4 million registered (2.4 million active) MoMo wallets to 11.5 million since it launched its Payments Service Bank (PSB) in May 2022.
