South Africa based MTN Group says that it recorded 61.4 million subscribers across its 21 operations as at 31 December 2007. This is an increase of 53% from 40.1 million subscribers as at the end of 2006.
The former Investcom operations recorded subscriber growth of 66% to 13.9 million, contributing 23% of the Group’s total subscriber base. In the South and East Africa (SEA) region subscribers increased by 23% to 19.3 million. In the West and Central Africa (WECA) region subscribers rose by 43% to 28 million and the Middle East and North Africa (MENA) region recorded a phenomenal 186% increase to 14 million, driven by the very strong growth of MTN Irancell.
The MTN Group’s revenue increased by 42% to R73.1 billion (US$9.48 billion) from R51.6 billion (US$6.7 billion) recorded at 31 December 2006. Revenue was driven mainly by significant subscriber growth.
The Group’s earnings before tax, interest, depreciation and amortisation (EBITDA) increased by 42% to R31.8 billion (US$4.12 billion) compared to 31 December 2006. This is due to strong revenue growth and initiatives to improve operational efficiencies. The SEA and WECA regions contributed 36% and 52% to Group EBITDA respectively.
The average revenue per user (ARPU) marginally declined in most operations, which is consistent with the increased penetration into lower usage segments.
The Group’s taxation charge jumped sharply to R7.79 billion (US$1 billion) compared with the 12 months ended 31 December 2006. This relates mostly to the end of the pioneer tax holiday in Nigeria in March 2007.
MTN Group President and CEO, Mr Phuthuma Nhleko said “I am pleased with yet another satisfactory year across all MTN Group operations. Most of our operations have significantly grown the subscriber base and revenues. This performance reflects the significant opportunities for growth in the Group’s expanded footprint.
“Going forward, we will continue to actively seek value enhancing expansion opportunities in emerging markets, invest heavily in infrastructure and ensure that the Group is well positioned to benefit from the rapidly converging technology market. We will also continue to drive efficiencies and engage with regulatory authorities in the various markets in which we operate.”
Posted to the site on 23rd April 2008
Posted to: www.cellular-news.com/story/30735.php