MTN Nigeria records growth across major services – here's how the telco performed in 3 months

Ferdi Moolman, the CEO of MTN Nigeria
  • MTN Nigeria posts impressive growth on improvements in voice and data revenues in 3 months.
  • The telecom giant's mobile subscribers increase to 60.3 million.
  • MTN says it is completing his listing formalities with the Nigerian regulator.

MTN Nigeria recorded sustained growth across majors in the first quarter of 2019 as telco subscribers hit 60.3 million.

In its unaudited results for the quarter ended March 31, 2019, MTN said it saw a significant increase in capital expenditure programme, with a focus on LTE services, it rolled out in 1,188 sites across Nigerian cities.

Ferdi Moolman, CEO, MTN Nigeria, said, “Our first quarter performance was in line with expectations, as service revenue remained resilient with double-digit growth on the back of improvements in voice and data revenues. We connected a further 2.1 million people to our network, providing them access to worldwide communication services, while an additional 1.7 million people are able to access the possibilities that the internet provides.

  • Service revenue increased by 13.4%;
  • Call Voice revenue increased by 12.7%;
  • Data revenue increased by 32.4%;
  • Digital revenue decreased by 68.0%;
  • Finech revenue increased by 22.9%;
  • EBITDA margin increased by 11.5pp to 53.3% (IAS 17: 44.2%);
  • Mobile subscribers increased by 2.1 million to 60.3 million.

The telecom giant said it is engaging with the Nigerian Stock Exchange (NSE) to complete the process of listing.

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