| * | Constant currency (CC) information after accounting for the impact of the pro forma adjustments as defined and included throughout this results announcement. Refer to contents page for more detail on the basis upon which constant currency information is presented. |
| Commencing 1 January 2024, MoMo PSB Nigeria discloses MAU, which includes only active MoMo wallet users and now excludes over-the-counter (OTC) customers. For comparative purposes, a total monthly active MoMo user figure has been disclosed showing MAU including and excluding OTC customers. |
"We are pleased to report a strong underlying performance and strategic execution for FY 2024, despite challenges in the operating environment. We are encouraged by the relative stability of some important key macroeconomic indicators in H2, such as inflation and foreign exchange (forex) rates in certain of our key markets. This provided support to our results in the period, with a pleasingly positive momentum in H2 earnings, free cash flow and leverage ratio."
Ralph Mupita
Group President and CEO
For Group, region and by country, as appropriate: Service revenue, revenue by segment, data revenue, enterprise revenue, wholesale revenue, fintech revenue, digital revenue, voice revenue; outgoing voice revenue; Group EBITDA (before onceoff items); Capex (ex-leases); EBITDA; EBITDA margin; Adjusted EBITDA; PAT; Loss after tax ; Headline earnings reconciliation to calculate adjusted headline earnings and adjusted headline earnings per share; operating free cashflow; cost analysis; depreciation and amortisation; net finance cost; taxation and net debt analysis as included in this results announcement has been prepared to provide users with a further operational understanding of the business (together, the “Non-IFRS Financial Information”). The Non-IFRS Financial Information has been calculated from the financial records of the Group.
Constant currency information has been presented to remove the impact of movement in currency rates on the Group’s results and has been calculated by translating the prior financial reporting period’s results at the current period’s monthly average rates. The measurement has been performed for each of the Group’s currencies, materially being that of the US dollar and Nigerian naira. The constant currency growth percentage has been calculated after translating prior year results at current year rates. In addition, in respect of MTN Irancell, MTN Sudan, MTN South Sudan and MTN Ghana the constant currency information has been prepared excluding the impact of hyperinflation. The economies of Sudan, South Sudan, Iran and Ghana were assessed to be hyperinflationary for the period under review and hyperinflation accounting was applied. Constant currency information in this results announcement is denoted with a *.
The Non-IFRS Financial Information and Constant currency information is collectively referred to as “Pro forma Financial Information” and has been prepared for illustrative purposes only. Because of its nature, the Pro forma Financial Information may not fairly present MTN’s financial position, changes in equity, and results of operations or cash flows. The responsibility for preparing and presenting the Pro forma Financial Information, as well as the completeness and accuracy of the Pro forma Financial Information is that of the directors of MTN. The compilation of the Pro forma Financial Information contained in this results announcement has been reported on by the Group’s auditor (Ernst & Young Inc.) in terms of ISAE 3420. Their unmodified auditor’s assurance reports are included here.
Any forward-looking information disclosed in this results announcement, including the dividend guidance, is the responsibility of the directors of MTN and has not been reviewed or audited or otherwise reported on by our external auditor.
The directors of MTN take full responsibility for the preparation of this results announcement and ensuring that the financial information has been correctly extracted from the underlying audited financial statements.
The Group’s results and segmental report are presented in line with the Group’s operational structure. The Group’s underlying operations are clustered as follows: South Africa (SA), Nigeria, the Southern and East Africa (SEA) region, the West and Central Africa (WECA) region and the Middle East and North Africa (MENA) region and their respective underlying operations.
The SEA region includes Uganda, Zambia, Rwanda, South Sudan, Botswana (joint venture-equity accounted) and eSwatini (joint venture-equity accounted). The WECA region includes Ghana, Cameroon, Côte d’Ivoire, Benin, Congo-Brazzaville and Liberia. The MENA region includes Iran (joint venture-equity accounted) and Sudan.
Although Iran, Botswana and eSwatini form part of their respective regions geographically and operationally, they are excluded from their respective regional results because they are equity accounted for by the Group.
