March 24, 2017 3:05 PM ET

Wireless Telecommunication Services

Company Overview of MTN Group Limited

Company Overview

MTN Group Limited operates in the telecommunications industry. It offers voice and data services; and business services, such as cloud, infrastructure, network, software, and enterprise mobility. The company also provides MTN mobile money account, which enables to make payments, buy prepaid services, and withdraw cash. In addition, it offers digital lifestyle products, including MTN Play that offers games, music, news, and lifestyle services; and MTN Football, a game. The company serves 232.5 million subscribers in 22 countries in Africa, Asia, and the Middle East. MTN Group Limited was founded in 1994 and is headquartered in Johannesburg, South Africa.

Innovation Centre

216 14th Avenue

Fairland

Johannesburg,  

South Africa

Founded in 1994

Phone:

27 11 912 3000

Fax:

27 11 912 3001

Key Executives for MTN Group Limited

Independent Non-Executive Chairman
Age: 56
Total Annual Compensation: R5.0M
Chief Executive Officer of MTN SA
Age: 51
Total Annual Compensation: R4.3M
Group Chief Consumer Officer of BMarketing
Age: 48
Total Annual Compensation: R5.5M
Group Chief Business Risk Officer
Age: 60
Total Annual Compensation: R4.0M
Group Chief Digital Officer
Age: 56
Total Annual Compensation: R508.0K
Compensation as of Fiscal Year 2015.

MTN Group Limited Key Developments

MTN Group Limited Appoints Rob Shuter as Executive Director

MTN Group Limited announced that Rob Shuter has been appointed as an executive director on the board of directors of the company, with effect from March 13, 2017.

MTN Group Limited Reports Audited Consolidated Earnings Results for the Year Ended December 31, 2016; Declares Dividend for the year end, Payable is on 27 March 2017

MTN Group Limited reported audited consolidated earnings results for the year ended December 31, 2016. For the year, the company reported revenue of ZAR 147,920 million against ZAR 147,063 million a year ago. EBITDA before Nigeria regulatory fine was ZAR 51,250 million against ZAR 68,412 million a year ago. EBITDA was ZAR 40,751 million against ZAR 59,125 million a year ago. Operating profit was ZAR 14,142 million against ZAR 35,328 million a year ago. Profit before tax was ZAR 5,243 million against ZAR 34,892 million a year ago. Profit after tax attributable to equity holders of the company was ZAR 2,614 million against ZAR 20,204 million a year ago. Diluted earnings per share were 0.144 cents against 1.106 cents a year ago. Net cash generated from operating activities was ZAR 20,716 million against ZAR 13,122 million a year ago. Acquisition of property, plant and equipment was ZAR 29,899 million against ZAR 21,612 million a year ago. Acquisition of intangible assets was ZAR 5,348 million against ZAR 10,412 million a year ago. Capital expenditure increased 19.6% to R34 920 million, of which R2 654 million was related to foreign currency movements. Dividends declared at the board meeting held on 1 March 2017 amounted to 450 cents per share. The dividend will be subject to a maximum local dividend tax rate of 20% which will result in a net dividend of 360 cents per share to those shareholders who bear the maximum rate of dividend withholding tax of 90 cents per share. The record date is on 24 March 2017 and payable is on 27 March 2017.

MTN Group Limited Provides Earnings Guidance for the Year Ended December 31, 2016

MTN Group Limited provided earnings guidance for the year ended December 31, 2016. Shareholders are therefore advised that the company expects to report a loss in basic headline earnings per share (HEPS) and basic earnings per share (EPS) for year 2016. In the prior year comparable period the company reported HEPS of 1,204 cents and EPS of 746 cents. The expected decline in the HEPS and EPS is mainly as a result of the regulatory fine imposed on MTN Nigeria (the Nigerian regulatory fine) following a resolution with the Federal Government of Nigeria on 10 June 2016. The Nigerian regulatory fine is expected to have an estimated negative impact of approximately 474 cents on HEPS and EPS, respectively. Other contributing factors to the negative HEPS and EPS for the year 2016 were foreign exchange losses in number of operations, losses from joint ventures and associates, additional depreciation resulting from prior hyperinflation adjustments in MTN Irancell,the Zakhele Futhi tax and share-based payment charges and professional fees incurred in respect of the settlement of the Nigeria regulatory fine and planned listing. For the year 2016 results are further expected to be negatively impacted by the under-performance of MTN Nigeria and MTN South Africa in the first half of 2016.

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February 1, 2017
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