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Results Overview
for the six-month period ended 30 June 2022
When opportunity calls, doing answers

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Highlights

MTN is a pan-African mobile operator with the strategic intent of ‘Leading digital solutions for Africa’s progress’. We have 282 million customers in 19 markets and are inspired by our belief that everyone deserves the benefits of a modern connected life.

Subscribers increased by 5.6% YoY to 281.6 million
Service revenue grew by 14.8%*
IFRS reported EBITDA
(before once-off items)
increased by 13.7%
(up 15.1%*)
Reported EBITDA margin
improved by
0.5 percentage points (pp) to 45.3% (up 0.3pp* to 45.3%*)

Group president and CEO, Ralph Mupita comments:

Resilient performance under challenging conditions
"During the first half of 2022, we delivered a solid performance under challenging global and regional macroeconomic and geopolitical conditions. Rising energy and food prices, general inflation and interest rate conditions has put pressures on disposable incomes, operating and capital expenditure. The conflict in Ukraine and China’s “zero-COVID” policy have impacted supply chains and to mitigate risk, we accelerated capital expenditure in some of our key markets, such as Nigeria and Ghana".

In addition to the macroeconomic challenges, in South Africa, power supply constraints from loadshedding affected network availability. In South Africa, we generally target above 99% network availability and in a month like June 2022 where loadshedding reached stage 6, network availability averaged 89%.

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