MTN South Africa has delivered a fairly good set of outcomes for the six months to 30 June 2024, regardless of the moribund economic system during which it’s working.
Service income for the primary half of the 12 months climbed by 3.3%, supported by robust performances in enterprise gross sales and fintech. Ebitda, or earnings earlier than curiosity, tax, depreciation and amortisation – a measure of working revenue – climbed by 3.8%, or 4.3% excluding the achieve on the disposal of telecommunications towers.
“MTN South Africa, which accomplished its community resilience plan within the interval, demonstrated encouraging progress in key areas of the enterprise. This helped to drive some acceleration in total service income,” mentioned MTN Group CEO Ralph Mupita.
Ebitda margin expanded to 36.6%, up by 0.4 proportion factors 12 months on 12 months, whereas capital expenditure got here in at R4.6-billion, which included the ultimate three months of the community resilience programme geared toward guaranteeing MTN’s community remained largely out there throughout load shedding.
Service income matched the development in Ebitda – a achieve of three.3% — whereas knowledge income development was comparatively muted at 2.4%, regardless of a giant bounce in knowledge consumption by MTN prospects. Outgoing voice income fell by 5.5%.
MTN South Africa grew its subscriber numbers by 4.7%, reaching 38.5 million on the finish of June. Publish-paid subscribers grew by 9.2% to 9.4 million, pushed by stronger uptake of built-in voice and knowledge plans in addition to residence broadband propositions. Pay as you go prospects elevated by 3.3% to 29 million.
Information site visitors
Though knowledge income development was simply 2.4%, contributing 47.6% of service income, knowledge site visitors rose by 36.5%, with post-paid prospects now consuming on common 21.6GB/month (up 51% 12 months to this point), pushed increased by fixed-wireless entry merchandise.
Nonetheless, the largest vivid spot within the MTN South Africa numbers got here from its fintech enterprise, the place service income jumped by 59.1% within the first half. This was underpinned by airtime advance initiatives.
“However a decline in month-to-month lively customers because of a base clean-up, MoMo (cellular cash) income scaled quickly from a low base and greater than doubled within the interval. This was pushed by the continued enlargement of the product portfolio, together with insurance coverage and lending companies (private and micro loans),” MTN mentioned.
Fintech income contributed 4.1% to whole service income, up from 2.6% within the first half of 2023.
The digital enterprise delivered development of 10.2%, pushed by a 26.1% development in new content material subscriptions and 32.3% development in cellular promoting. MTN South Africa has signed exclusivity offers with Showmax EPL and Disney+, which has assisted in buyer acquisition and retention, it mentioned. – © 2024 NewsCentral Media
