je.st
news
MTN grows FY revenue 10.9% to ZAR 135 bln
2013-03-06 08:57:00| Telecompaper Headlines
(Telecompaper) MTN Group reported revenue for 2012 up 10.9 percent to ZAR 135.1 billion, buoyed by solid organic growth in its home market South Africa (+7.1%). Although its largest market Nigeria had a difficult year (-0.8%), a number of operations continued to outperform, with strong organic revenue growth in Iran (+26.1%), Ghana (+21.3%), Uganda (+16.2%), Sudan (+28.3%) and Ivory Coast (+17.0%). Group subscribers increased 15.1 percent to 189.3 million at year-end. MTN's EBITDA rose 7.0 percent to ZAR 58.6 billion, helped by one-time profits on tower sales. Group depreciation increased by 11.8 percent and amortisation rose 10.3 percent after increased investment, limiting the rise in EPS to 0.6 percent at ZAR 11.26. HEPS rose 1.9 percent to ZAR 10.89, with growth held back by negative forex effects. MTN increased capex by 69.9 percent last year to ZAR 30.10 billion, which includes some equipment pre-ordered for roll-out this year. The company increased its annual dividend 10 percent to ZAR 5.03 per share and said it aims for a 5-15 percent increase in annual dividends in the coming three-year period. MTN said it expects continued organic growth in both revenue and EBITDA in 2013 and anticipates reaching 200 million subscribers by mid-year. Net subscriber additions for the full year are estimated at 21.0 million. The Nigerian operations are expected to recover in the course of this year, and this together with a lower tax rate and the benefits of network investment in 2012 should support growth in reported earnings.
Tags: revenue
grows
zar
mtn
Category:Telecommunications