South Africa-based MTN Group has unveiled its financial results for the six months ended 30 June 2012, reporting that consolidated group revenues increased by 17.5% year-on-year to ZAR66.426 billion (USD8.135 billion). Nigeria contributed the lion’s share of MTN’s sales during 1H12, with ZAR13.981 billion, and the company’s domestic unit generated ZAR10.003 billion. Meanwhile, earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 18.2% y-o-y to ZAR29.798 billion. CAPEX for the first six months of 2012 was ZAR24.772 billion, with Nigeria accounting the bulk of the overall investment.
In operational terms, MTN revealed that its consolidated subscriber base reached 176.0 million at 30 June 2012, up 16.9% on an annualised basis. MTN’s local 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 23.533 million in 1H12. Elsewhere, in the West and Central African (WECA) region, MTN Nigeria – the group’s largest operator – expanded its subscriber base to 43.184 million, while 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 38.296 million during the six month period under review.