Although MTN has recorded a rise in profits in the first half of 2023, the operating environment has been troublesome.
Despite seeing a rise in profits in the first half of the year, MTN says load shedding is having a disastrous impact on its operations.
“We focused on executing our network resilience programme and are pleased with the improvements in network availability and NPS during the period. We are tracking slightly ahead of plan in our resilience rollout, which has been reflected in the encouraging uplift in traffic trends and service revenue in Q2 versus Q1,” he said.
“This supports our medium-term growth thesis, enabled by ongoing investment in our networks and platforms. In H1, we deployed R17.2 billion of capex, reflecting a capex intensity of 15.2% – within our medium-term target range of 15-18%,” Mupita said.The group’s EBITDA increased by 13.5% as elevated inflation and foreign exchange depreciation contained to place pressure on costs – particularly the short-term burden put on consumers due to the Nigerian reforms.
Active data subscribers also grew by 7.4% to 139.5 million, which led to an increase in traffic and data revenue growth of 23.6%. Although the group saw a rise in profits, it has not declared an interim dividend which aligns with its policy.
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