Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News

MTN Nigeria grows revenue by 17.4% in Q3 2018 result

Fikayo Owoeye by Fikayo Owoeye
October 29, 2018
in Business News, Company News, Company Results
MTN Nigeria Plc

MTN Nigeria

Share on FacebookShare on TwitterShare on Linkedin

Embattled Teleco-giant, MTN Group has released its 2018 Q3 financial result for the period ended 30th September 2018. The group reported a 1.1 per cent rise in quarterly user base helped partly by strong performances in Nigeria, its largest but increasingly problematic market.

  • The Group said its user base increased by 2.5 million subscribers to 225.4 million users.
  • The Group Mobile money customers grew by 1.7 million to 25.8 million users.
  • The Group active data subscribers increased Quarter on Quarter by 5.0 million to 74.2 million.
  • Group service revenue increased year-on-year (YoY) by 10.0%.
  • Group data revenue increased Year on Year by 23.9%.

Performance of MTN Nigeria

MTN Nigeria had an excellent quarter, increasing service revenue by 17.4% Year-on-Year, towards the upper end of its medium-term target for Nigeria of double-digit growth. This growth was led by a 52.5% increase in data revenue and a 21.5% increase in outgoing voice revenue.

Also, Data revenue growth was supported by an increase in active data subscribers as well as more smartphones on its network, the result of various Consumer Value Management and Original Equipment Manufacturer partnership initiatives. However, its Digital revenue declined by 28.5% following the continued optimisation of its value-added services (VAS) business.

RelatedPosts

Meet Karl Toriola, MTN’s amiable boss

MTN just bought land in the Metaverse, here’s what you need to know

The Group announced the completion of the final element of this optimisation, suspending auto-renewal of subscriptions, in mid-September which means that digital revenue will continue to be impacted by lower VAS revenue in the fourth quarter, after which it expects it to stabilise.

MTN Nigeria reported 17.2 million active data subscribers, up 15.1% Quarter on Quarter, and 2.5 million Mobile Money customers, up 12.4% Quarter on Quarter.

The EBITDA margin expanded to 43.2% in the first nine months of the year, up 4.7 percentage points from end September 2017, driven by the strong growth in revenue, mix of revenue and further cost optimisation efforts.

Problematic Nigerian market

MTN Group President and CEO, Rob Shuter acknowledges that MTN Nigeria’s plans to list have been challenged by the recent Central Bank of Nigeria and Attorney General of the Federal Republic of Nigeria matters, he however assured that MTN remains committed to the listing in Nigeria, noting that the group had engaged extensively with authorities in Nigeria to deal with the matters they raised.

Central Bank of Nigeria had on August 29 ordered MTN to bring $8.1 billion back into Nigeria allegedly sent abroad in breach of foreign exchange regulations. It also faces a $2 billion back tax demand from the Attorney General.

Related

Tags: MTN GroupMTN Q3 2018 resultRob Shuter

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Mega Millions
Hot forex
Cornerstone
Polaris Bank
Access Bank
Bankers Committee
First bank


FCMB




    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • TrustBanc raises N5.85bn from Series 7 and 8 Commercial Papers; Issue Achieves 117% subscription
    • FIRS extends deadline for filing of 2022 Companies Income Tax returns to 31st August 2022
    • Lagos state government shuts down Redeemers School over death of pupil

    Follow us on social media:

    Recent News

    TrustBanc pays N4.2bn Commercial Paper proceeds at maturity

    TrustBanc raises N5.85bn from Series 7 and 8 Commercial Papers; Issue Achieves 117% subscription

    July 4, 2022
    FIRS calls for comprehensive revenue aggregation

    FIRS extends deadline for filing of 2022 Companies Income Tax returns to 31st August 2022

    July 4, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com