SENS Note - 08 August 2018
MTN interim results June 2018
 
Revenue for the interim period decreased to R62.777 billion (2017: R64.815 billion), EBITDA dropped to R22.335 billion (2017: R24.781 billion), operating profit increased to R10.832 billion (2017: R10.407 billion), profit attributable to equity holders of the company declined to R4.381 billion (2017: R5.460 billion), while headline earnings per share weakened to 215 cents per share (2017: 231 cents per share).

Dividends
The board has declared a gross interim dividend of 175 cents per share.

Company prospects and guidance
Well positioned to deliver growth.

MTN is a leading operator in one of the world’s fastest-growing regions. Guided by our clearly defined strategy, we are well positioned to grow by leveraging our scale and enhancing our competitive position. With our expanding data coverage and drive to accelerate smartphone adoption, we will take advantage of the material data and digital opportunity in our markets. As we build operational momentum, we will intensify our focus on our digital businesses in the future.

In the next few years we expect to widen our group EBITDA margin. We also target upper-single-digit growth in constant currency service revenue, driven by double-digit growth from MTN Nigeria and mid-single-digit growth from MTN South Africa.

Our extensive capital investment programme in recent years has sharply improved our network performance in many markets. This has supported our efforts to provide the best customer experience and to grow through enabling greater adoption of data and digital services. We expect the group capex intensity, which measures our efficiency in deploying assets, to moderate over the medium term to within a target range of 20% to 15%. At end-June 2018 it was 18.3%. Our improving group margins and declining capex intensity are expected to support improved cash flow generation for the group.
 
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