SENS Note - 19 October 2018

MTN - MTN Ghana financial results

MTN Ghana released unaudited financial statements for the nine months ended 30 September 2018. Commentary and forward statement During the quarter, MTN Ghana delivered a strong performance, driven by solid service revenue growth of 22.9%. Data revenue increased by 30.9% YoY while digital revenue expanded by more than 28%, driven by MoMo, which increased its contribution to revenue to 16%. MTN Ghana reported an EBITDA margin of 37.6% in the first nine months of the year. This is 1.3 percentage points lower than the margin in the first nine months of 2017. Excluding the impact of the reintroduction of management fees in May 2018, the EBITDA margin would have been 40.4%. Subscriber performance was as follows: - Subscribers were 19.4 million (17.1 million) - Data subscribers were 14.3 million (5.8 million) - Mobile money subscribers were 9.4 million (7.9 million) MTN Ghana in Q4 will continue to pursue our BRIGHT strategy for 2018 to drive good performance and strive towards our vision to lead the delivery of a bold new digital world to customers and to make their lives a whole lot brighter.

Click here for original article