,
5 tweets,
1 min read
Read on Twitter
MTN Nigeria is beasting. I think it just became the first Nigerian company to hit the trillion Naira revenue mark. N1.04 trillion revenues on the back of 17% growth (v 1.9% GDP growth). Historic stuff
Subscriber base rose by 11% (by almost 6m new subscribers) to 58.2m. ARPU up by 3.5% to N1,535. Data revenue increased by 40.1% yoy. EBITDA grew by 30.7% (excluding CBN payment). EBITDA margin of 43.5% (excluding CBN payment). Mental margins!
43.90m data users on network / 18.67mn active data users on network / 21.60mn smartphones on network / MB per active data user at 1,177MB. Almost 22m smart phones on the biggest network. These are super impressive company and sector indicators.
Only sobering thought. You need almost 60 million subscribers and EBITDA margins of over 40% to hit the $1 billion profit mark. Not an easy something.
Just to clarify. My ogas in the big IOCs have reminded me to exclude them from that N1 trillion revenue mark. They only need to sell a few barrels, and N1 trillion is surpassed.
