Telecom company beats expectations and maintains positive outlook
- MTN Group’s earnings rose in the first nine months of the year
- Despite difficult macroeconomic conditions and inflation
- Group service revenue for the quarter was ZAR50.91 billion
- Voice revenue declined 0.6%, data revenue was up 15.3%
- Total subscribers increased by 1.8% to 290.1 million
- MTN Group expects to deploy capital expenditure of ZAR40.1 billion in 2023
- Minimum dividend of around 330 South African cents per share
MTN Group, a South Africa-based telecommunications company, has reported an increase in earnings for the first nine months of the year, despite facing difficult macroeconomic conditions and inflation. The company’s earnings before interest, taxes, depreciation, and amortization reached ZAR70.31 billion, compared to ZAR68.40 billion in the previous year. Although group service revenue for the quarter decreased to ZAR50.91 billion, the company saw a 9.0% increase in year-to-date revenue, reaching ZAR156.31 billion. While voice revenue declined by 0.6%, data revenue experienced a significant growth of 15.3%. Additionally, MTN Group witnessed a 1.8% increase in total subscribers, reaching 290.1 million, and a 6.7% rise in active data subscribers, totaling 144.6 million. Looking ahead, the company expects to deploy capital expenditure of ZAR40.1 billion in 2023 and plans to pay a minimum dividend of around 330 South African cents per share.
Factuality Level: 8
Factuality Justification: The article provides specific financial figures and metrics for MTN Group’s earnings and revenue, which can be verified. It also includes information about the company’s expectations for the full year and future capital expenditure. However, the article lacks any analysis or context regarding the difficult macroeconomic conditions and inflation mentioned, which could affect the overall assessment of the company’s performance.
Noise Level: 7
Noise Justification: The article provides financial information about MTN Group’s earnings and revenue for the first nine months of the year. However, it lacks analysis or insights into the long-term trends or consequences of these numbers. It also does not provide any evidence or data to support its claims. Overall, the article is mostly focused on reporting financial figures without providing much depth or actionable insights.
Financial Relevance: Yes
Financial Markets Impacted: MTN Group
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to the financial performance of MTN Group, a telecommunications company. It provides information on the company’s earnings, revenue, and subscriber growth. There is no mention of any extreme events or their impact.
Public Companies: MTN Group (MTN)
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