MTN Subscriber Base Declines By 1.3M To 70.2M

Mobile telecommunications giant, MTN Nigeria Plc has announced a decline in its subscriber base by 1.3 million to 70.2million for the period ended 31st March 2022.

The figure is contained in unaudited financial statements released to the Nigerian Exchange Limited. 

Extracts from the Unaudited financial statements of MTN NIGERIA PLC for the period ended 31st March 2022 as released to the Nigerian Exchange Limited. 

Key Metrics:

•Mobile subscribers declined by 1.3 million to 70.2 million YoY, impacted by the regulatory restrictions on new SIM sales and activations

•Added 1.7 million subscribers in Q1 2022 vs Q4 2021.

•Active data users increased by 3.4 million to 35.9 million YoY.

•Added 1.6 million active users in Q1 2022 vs Q4 2021.

•Active fintech subscribers rose by 6.2 million to 10.7 million YoY.

•Added 1.3 million subscribers in Q1 2022 vs Q4 2021

$Service revenue increased by 22.0% to N469.8 billion/

•Earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 25.7% to N257.1 billion.

•EBITDA margin increased by 1.5 percentage points (pp) to 54.6%.

•Profit After Tax (PAT) grew by 31.3% to N96.8 billion.

•Earnings per share (EPS) rose by 31.3% to N4.76 kobo.

•Capital expenditure (Capex) rose by 80.8% to N162.5 billion (up 156.8% to N81.2 billion, excluding the right of use assets).

•Final dividend of N8.57 kobo per share for FY 2021