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Two weeks after listing its shares on the premium board of the Nigerian Stock Exchange (NSE), the board of MTN Nigeria, at the weekend presented its audited financials for the year ended December 31, 2018.
Highlights of the financials presented to the NSE showed that revenue for the period stood at N1.039 trillion, making it perhaps the biggest cash cows in the country, up by N151.937 billion or 17.13 per cent. The group earned N2.225 billion as other income, an item that did not exist in the prior year.
MTN Nigeria also at the weekend said it has paid the sixth and final installment of N55 billion to the Nigerian Communications Commission (NCC). This completes MTN’s payment of the N330 billion negotiated settlement agreed between the NCC and the company in 2016.
According to MTN’s Chief Corporate Relations Officer, Tobechukwu Okigbo, the successful resolution of the fine was the outcome of active collaboration between the NCC and MTN.
“We are very pleased to have completed the payment of the N330 billon negotiated settlement with the NCC. We are particularly gratified to be in a position to have fully met the terms of the settlement within the agreed timeframes. I would like to thank the NCC for their constructive and collaborative approach to this issue, and believe that we emerge from it with a stronger relationship, focused on ensuring maximum value is delivered to our people, from a strong and growing telecoms sector.”
Further breakdown of the revenue showed that airtime and subscription remained its honey-pot, generating N676.361 billion, up from the restated N556.577 billion in 2017; data revenue stood at N165.169 billion, up from N116.798 billion; just short message service (SMS) revenue rose to N14.27 billion in 2018 from N12.622 billion.

The company’s profit before tax increased by N113.452 billion or 105.15 per cent to N221.342 billion from N107.889 billion in 2017 full-year; while tax expenses for the year ballooned to N75.656 billion from N26.819 billion, representing N48.837 billion or 182.09 per cent growth within the period.
Profit after tax for the period, therefore, climbed by N64.815 billion or 79.95 per cent to N145.685 billion from N81.07 billion, representing Earnings Per Share of N35.70, up from N19.91.
Interconnect and roaming revenue increased from N103.566 billion to N107.182 billion; digital revenue stood at N40.706 billion, down from N69.41 billion; just as value added services fetched it N30.54 billion, compared to N24.015 billion; while other revenue came to N4.659 billion from N3.552 billion in 2017.
Direct network operating cost rose from N268.358 billion from the 2017 full year to N305.519 billion; while value-added services gulped N16.643 billion, down from N28.226 billion; but the cost of handsets and other accessories gulped N6.191 billion, slightly lower than the N7.214 billion recorded in 2017.
Highlights of the financials presented to the NSE showed that revenue for the period stood at N1.039 trillion, making it perhaps the biggest cash cows in the country, up by N151.937 billion or 17.13 per cent. The group earned N2.225 billion as other income, an item that did not exist in the prior year.
MTN Nigeria also at the weekend said it has paid the sixth and final installment of N55 billion to the Nigerian Communications Commission (NCC). This completes MTN’s payment of the N330 billion negotiated settlement agreed between the NCC and the company in 2016.
According to MTN’s Chief Corporate Relations Officer, Tobechukwu Okigbo, the successful resolution of the fine was the outcome of active collaboration between the NCC and MTN.
“We are very pleased to have completed the payment of the N330 billon negotiated settlement with the NCC. We are particularly gratified to be in a position to have fully met the terms of the settlement within the agreed timeframes. I would like to thank the NCC for their constructive and collaborative approach to this issue, and believe that we emerge from it with a stronger relationship, focused on ensuring maximum value is delivered to our people, from a strong and growing telecoms sector.”
Further breakdown of the revenue showed that airtime and subscription remained its honey-pot, generating N676.361 billion, up from the restated N556.577 billion in 2017; data revenue stood at N165.169 billion, up from N116.798 billion; just short message service (SMS) revenue rose to N14.27 billion in 2018 from N12.622 billion.

The company’s profit before tax increased by N113.452 billion or 105.15 per cent to N221.342 billion from N107.889 billion in 2017 full-year; while tax expenses for the year ballooned to N75.656 billion from N26.819 billion, representing N48.837 billion or 182.09 per cent growth within the period.
Profit after tax for the period, therefore, climbed by N64.815 billion or 79.95 per cent to N145.685 billion from N81.07 billion, representing Earnings Per Share of N35.70, up from N19.91.
Interconnect and roaming revenue increased from N103.566 billion to N107.182 billion; digital revenue stood at N40.706 billion, down from N69.41 billion; just as value added services fetched it N30.54 billion, compared to N24.015 billion; while other revenue came to N4.659 billion from N3.552 billion in 2017.
Direct network operating cost rose from N268.358 billion from the 2017 full year to N305.519 billion; while value-added services gulped N16.643 billion, down from N28.226 billion; but the cost of handsets and other accessories gulped N6.191 billion, slightly lower than the N7.214 billion recorded in 2017.
