In its unaudited results for the half-year ended 30 June 2021, telecoms company MTN posted a 24.1 percent growth in its service revenue to N790.3 billion.
Its Earnings before interest, tax, depreciation, and amortisation (EBITDA) appreciated by 27.6 percent to N417.2 billion, with the EBITDA margin rising by 1.4 percent to 52.7 percent.
There was a decline in the number of mobile subscribers in the half-year result, dropping to 68.9 million, with a 7.6 million decrease.
The drop was attributed to regulatory restrictions on the sale of new SIM cards and activations.
The report added that the company’s capital expenditure grew by 39.1 percent to N186.4 billion, while its dividend per share saw a 30 percent increase to N4.55 kobo.
Speaking on the company’s results, MTN Nigeria Chief Executive Officer (CEO), Karl Toriola, said, “In the first half of 2021, we made good progress strengthening the resilience of the business, managing the impact of the COVID-19 pandemic and enhancing support to our people, customers and other stakeholders.
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“We extended our commitment to the Coalition Against Covid-19 (CACOVID) with an additional N3 billion contribution over a two-year period, half of which has already been paid.
“This is in support of efforts to promote the health and security of Nigerians, as we navigate our way through the pandemic; and in line with our Y’ello Hope initiatives through which we provided support to our broad base of stakeholders to the value of approximately N25 billion in 2020.”
Toriola noted that the firm’s upgrade by Global Credit Ratings (GCR) to AAA was proof of its “progress towards achieving greater business resilience”.
Taking advantage of the public-private partnership (PPP) encouraged by the Federal Government to improve the country’s road infrastructure, the firm said that it would partake in the Road Infrastructure Tax Credit (RITC) Scheme.
Toriola explained, “We intend to participate in the restoration and refurbishment of the Enugu-Onitsha Expressway. Conversations in this regard have already commenced, and further announcements will be made in due course.”
He also shared the company’s plan to settle its roots deeper on Nigerian soil by commissioning a “purpose-built, state of the art MTN Head Office, designed to act as a central hub for our network, a catalyst for creativity and innovation, and a showcase for the flexible working structures that are driving efficiency gains in this new normal working environment.”
