MTN Uganda EBITDA up 22,0% ; MTN Group EBITDA increased 7,0%

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MTN Group announced results for the year ended 31 December 2012, that reflect a solid progress in growing subscribers, revenue and EBITDA.

With the results, MTN has reported that, during 2012, data revenue across the Group increased by 58.5%.

Highlights

•       Group subscribers increased 15,1% to 189,3 million

•       Revenue increased 10,9% to R135 112 million

•       Data revenues increased *58,5% to R14 574 million

•       EBITDA increased 7,0% to R58 564 million

•       EBITDA margin stable at  ***42,9%

•       Capex of R30 101 million positions the Group for continued growth

•       HEPS increased to 1 089,1 cents (+1,9%)

•       Foreign exchange losses (Iran, Syria and Sudan) negatively impacted HEPS by 178,5cps

•       Final dividend per share of 503cps

•       Revised dividend policy to absolute growth

EBITDA= earnings before interest, taxes, depreciation, and amortization.

HEPS = Headline earnings per share

Capex = Capital Expenditure

About MTN Uganda the report states that “Uganda delivered strong results in a competitive market with local currency EBITDA up 22,0% excluding the profit on the sale of towers. Data revenue increased *86,4% (855,0%)(LC) supported by a strong performance in MTN Mobile Money. With 78% of our subscriber base registered and more than 2 million transactions each month, MTN Mobile Money now contributes meaningfully to Uganda’s revenue. We concluded the tower transaction with ATC during 2012, which saw the business sell 962 towers to ATC. This transaction will have a negative impact on reported margins in 2013 given the higher associated lease costs.”

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