MTN FY11 revenues increase 6% to ZAR121.9bn; consolidated subscriber base reaches 164.5m

7 Mar 2012

South Africa-based MTN Group has unveiled its financial results for the twelve months ended 31 December 2011, reporting that consolidated group revenues increased by 6% year-on-year to ZAR121.88 billion (USD16.0 billion). Earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 9% y-o-y to ZAR53.57 billion and operational profit increased 8% to ZAR38.08 billion. Attributable profit has been stated at ZAR19.57 billion for full-year 2011, a rise of 13%. CAPEX for 2011 was down slightly, to ZAR17.72 billion.

In operational terms, MTN revealed that its consolidated subscriber base reached 164.5 million at 31 December 2011, up from 141.6 million in 2010. MTN’s domestic unit, MTN South Africa, continues to provide the bulk of subscribers in the South and East African (SEA) reporting region, increasing its customer base to 22.03 million in 2011, with around 5.50 million subscribers utilising 3G devices at that date. MTN credits the South African unit’s success to impressive growth in the pre-paid segment. Elsewhere, in the West and Central African (WECA) region, MTN Nigeria – the group’s largest operator – expanded its subscriber base to 41.64 million, including 1.70 million ‘data-active smartphones’. Meanwhile, in the Middle East and North African (MENA) region, MTN saw sustained growth from its Iranian operation, MTN Irancell, which increased its customer base to 34.68 million during 2011. MTN credits the solid subscriber gains in Iran to improved distribution channels and sustained promotional activity.

South Africa, MTN Group, MTN Irancell, MTN Nigeria, MTN South Africa