According to the Q1 2019 result posted by MTN Nigeria, the Telco’s service revenue has increased by 13.4% year on year (YoY). Their customer base also grew by 2.1 million making a total of 60.3 million subscribers.
The report also revealed that MTN Nigeria’s data revenue grew by 32.4%, their voice revenue grew by 12.7% and their fintech revenue by 22.9%. Digital revenue, however, decreased by 68.0%. The increase in smartphone penetration by 10.6%, increase in active data subscribers by 9.1% making a total of 20.4 million and improved network quality swayed the growth of the data revenue.
See also: MTN Nigeria Successfully registers 20.35bn Shares
MTN Nigeria also recorded earnings before interest, taxation, depreciation and amortization (EBITDA) margin of 53.3%. On an IAS 17 basis, the Telco’s margin increased to 44.2%, up 2.4% points YoY, driven by the growth in revenue and effective cost management. They connected over 2.1 million people to the MTN network, with access to worldwide communication services, and an additional 1.7 million people with access to an unlimited internet service.
According to CEO MTN Nigeria, Ferdi Moolman, this growth was built on their focus on customer-centric delivery. He also said they rolled out 1,188 sites across our key focus cities. They also made a successful transfer of their 800MHz spectrum from Visafone to MTN Nigeria to further enable improvements to network coverage and service quality.
More on TechGist Africa:
- Microsoft Set to Launch $100 Million African Development Center
- Nigeria’s Publiseer makes the Halcyon Incubator Fellowship Final List
- Caselines Brings Digital Judicial Evidence Management Software to South Africa
- Kasha Launches Female Healthcare e-Commerce Platform in Kenya
- Facebook, Udacity to Provide AI Scholarships for Developers
