MTN Nigeria Announces its Audited Results for the FY21

MTN Nigeria has announced its audited results for the financial year that ended on 31st December 2021.

MTN Nigeria Communications Plc (MTN Nigeria) has announced its audited results for the financial year ended 31 December 2021.

Key metrics:

● Mobile subscribers decreased by 8 million to 68.5 million but returned to positive net additions in Q4 2021.
● Active data users increased by 1.7 million to 34.3 million
● Active fintech subscribers rose by 4.8 million to 9.4 million
● Service revenue increased by 23.3% to N1.7 trillion
● Earnings before interest, tax, depreciation, and amortisation (EBITDA) grew by
27.9% to N877.1 billion
● EBITDA margin increased by 2.1 percentage points (pp) to 53.0%
● Profit after tax (PAT) grew by 45.5% to N298.7 billion
● Earnings per share (EPS) rose by 45.5% to N14.67 kobo
● Proposed final dividend of N8.57 kobo per share
● Enhanced guidance for service revenue growth of “at least 20%” over the medium-term.

“2021 was a significant year for our Company. We commemorated our 20th anniversary with a celebration of our customers and all the stakeholder relationships that enabled our journey. In addition, we made good progress towards our Ambition 2025 objectives, demonstrating the strength and resilience of the business. This reflects the firm foundations on which our business is built, the tenacity and the commitment of our people, and the support of our stakeholders.

We continue to deepen our contributions to society in line with our priority to enhance shared value. During the year, our total contribution to the Government through direct and indirect taxes was N669.2 billion, up 83.4%, representing approximately 40% of our total revenue. We extended our interventions, in response to the challenges to our nation arising from the COVID-19 pandemic, providing a further N1.5 billion to the Coalition Against Covid-19 (CACOVID) in support of efforts aimed at curbing the spread of the virus. This is supplementary to other interventions to protect the health
and well-being of our people, customers and stakeholders. We also worked hard across our business to embed new ways of working while harnessing the opportunities presented by the trends in digital adoption.”

Karl Toriola, CEO, MTN Nigeria

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