MTN - trading statement

01 March 2024 7:24

The Group anticipates reporting a resilient underlying operational performance for FY 23 in a challenging operating environment. The financial result has, however, been negatively affected by the sharp devaluation in the naira against the US dollar impacting MTN Nigeria's financials, despite the operating company's solid underlying operational performance. This mainly drove higher operating and net finance costs for MTN Nigeria, which are expected to impact the Group FY 23 financial performance. The foreign exchange losses in MTN Nigeria's financial are estimated to be 593 cents (2022: 52 cents) in the Group FY 23 results. MTN expects to report: A decrease in earnings per share of between -90% and -70% (or -964 cents and -750 cents). Considering the reported EPS for the corresponding financial year ended 31 December 2022 (FY 22) of 1 071 cents, this translates to a range of 107 cents to 321 cents for FY 23. A decrease in headline earnings per share of between -80% and -60% (or -923 cents to - 692 cents). Considering the reported HEPS of 1 154 cents for the corresponding FY 22, this translates to a range of 231 cents to 462 cents for FY 23. The board anticipates declaring a dividend in line with guidance of a minimum ordinary final dividend of 330cps for FY23. The Group's financial results are expected to be announced on SENS on or about Monday, 25 March 2024.

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