Cellular research Africa

MTN Group (MTN) FY23 – Results Snapshot

Diluted HEPS 310 cps, down -72.0% y-y.
Revenue growth of +6.8% y-y (FY22: +14.0% y-y).
EBITDA margin down to 40.2% (FY22: 43.4%), mainly impacted by higher inflation and foreign currency devaluations.
Operating margin declined by -540bps to 21.0% (FY22: 26.4%).
PBT % declined to 5.3% (FY22: 20.0%).
Dividend of 330.0 cps (FY22: 330.0 cps).
The sharp devaluation of the Naira during the period impacted reported results for both MTN Nigeria and MTN Group. Foreign exchange losses of NGN740 billion (R21bn) were recognised in MTN Nigeria.
Data traffic across operations grew at 26.3% y-y (35.4% excluding JVs) while fintech transaction volumes grew at 32.2% y-y in the period.