MTN group has today disclosed its financial results for 2017 showing that MTN Uganda has returned to better revenue performance overall, helping the group to move on from a turbulent 2016.
In 2017, MTN Uganda’s revenue grew by 10.1% to UGX 1.4 trillion and among the group’s achievements for 2017 included; improved engagement with customers and motivation, resourced regulatory and risk functions and finally they recruited specialist skills. The Group report also indicates that MTN Uganda leads its competition when it comes to technology excellence and also commended MTN Uganda’s superior network quality and effective distribution.
By the end of 2016, subscriber base was at 10.5 million with over 50% market share, driven by attractive personalized bundled products like Gaga Wednesdays, SWIFT and WFT and other voice bundles.
Total revenue in 2017 increased by 10.1% to UGX 1.4trillion, supported by strong growth in data and digital. Data revenue increased from UGX 66 billion in H1 2017 to UGX 87 billion in H2, which represents 14,1% total growth. This was mainly underpinned by an increase in data traffic and good growth in data bundle adoption. See a detailed breakdown of revenues illustrated below.
Growth continues even in tough times
Growth continues even in tough timesDigital revenue saw a 4% increase between H1 and H2 from UGX 196 billion to UGX 212 billion respectively, supported mainly by Mobile Financial Services like mobile money. In 2016, the company also recorded an increased average revenue per user (ARPU) from $ 2.23 to $ 2.3 in the last two quarters. This indicates the average revenue received from your paying users on the MTN Uganda network.
The major items that impacted revenues include the constant fluctuation of weakening local currencies, impairment of assets impacting EBITA, impairment of goodwill impacting profit before tax and the R 1 billion fine by the Nigerian regulatory body.
Find the entire financial results here.
