A N203.55 billion final dividend, totaling N10 per share, has been proposed by MTN Nigeria Communications (MTNN) to be paid to all shareholders of the firm for the fiscal year 2022.
The telecom giant’s profit before tax increased by 22.3% to N534 billion in its audited results for the 2022 financial year, which were made accessible to the Nigerian Exchange Limited (NGX). The net profit for the year increased by 21.1% to N361.5 billion.
The company’s capital expenditures (capex) increased by 23.5% to N504.3 billion, while its earnings per share (EPS) increased by 21.3% to N17.79.
Active data users surged by 15.3% to 39.5 million, mobile subscribers rose by 10.5% to 75.6 million, and active fintech subscribers increased by 57.5% to 14.9 million.
To N2.0 trillion, service revenue climbed by 21.5%. EBITDA margin improved by 0.2 percentage points to 53.2%, while earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 22% to N1.1 trillion.
Karl Toriola, CEO of MTN Nigeria, commented on the performance. He said: “Navigating a challenging operating environment in 2022 was challenging due to global macroeconomic and geopolitical volatility, resulting in higher inflation, supply chain uncertainties, foreign exchange volatility and availability.”
“We continued to manage and invest in the resilience of our business and networks, expanding coverage and capacity with a focus on expense efficiencies and disciplined capital allocation.”
“We became the first mobile network operator to launch a 5G network in Nigeria, providing coverage in key cities in the six geopolitical regions. Since its commercial launch in September 2022, we have rolled out 588 sites and brought the 5G network to 5G-enabled smartphones, starting with iPhone users. In this regard, we made good progress towards the execution of Ambition 2025 while delivering commercial and financial performance in line with our medium-term guidance.”
