Summary of MTN Ghana consolidated annual results for the year ended 31 December 2019

MTN Ghana (Scancom PLC or MTNGH or the Company) delivered a strong performance for the year in a competitive industry, maintaining market leadership with 55.21% market share. Service revenue increased by 22.8% year-on-year (YoY), underpinned by growth in revenue from voice, data and Mobile Money (MoMo).

Double-digit growth in voice revenue (up 19.4% YoY) was driven by an increase in the number of active subscribers* (+11.2%), the benefits of various customer value management (CVM) initiatives and pro-consumer activity, as well as continued improvements to our network. As new lines of revenue continued to grow much faster than the traditional business, voice revenue’s contribution to service revenue decreased from 46.3% to 45.0%.

Solid data revenue growth (up 32.5% YoY) was attributable to growth in active data users# (+26.6%), growth in the number of smartphones (+18.5%) on the network and an increase in data usage (up 85.9% to 256,301 Terabyte). Data revenue’s contribution to service revenue expanded from 26.3% to 28.4%.

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MTN expects headline earnings to grow by 55-75% for financial year 2019

MTN has released a trading statement guiding for growth in its earnings for the year ended 31 December 2019. Headline earnings per share (HEPS) for the period, on pro forma like-for-like IAS basis, is expected to be between 55 – 75% higher. This will result in a range of 522 cents and 590 cents, compared with the HEPS of 337 cents for the prior financial year.

MTN will announce its results on or about Wednesday, 11 March 2020.

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