HY Results 2022: MTN RWANDACELL PLC

MTN Rwandacell Plc (MTN Rwanda) announced its unaudited financial results for the six months ended 30 June 2022. 

Salient points:

• Mobile subscribers increased by 1.7% year-on-year (YoY) to 6.6 million
• Active data subscribers increased by 23.9% YoY to 2.2 million
• Mobile Money (MoMo) subscribers increased by 9.1% YoY to 3.9 million
• Service revenue increased by 21.5% to Rwf 105.1 billion
• Earnings before interest, tax, depreciation, and amortisation (EBITDA) grew by 17.8% to Rwf 52.5 billion, with an EBITDA margin of 49.3%
• Capital expenditure (capex, IAS 17) increased by 56.0% to Rwf 28.8 billion
• 1Profit after Tax (PAT) decreased by 31.5% to Rwf 9.7 billion, as the business continues to amortize its operating license that was renewed in 2021.

Unless otherwise stated, financial and non-financial information is YoY (six months to 30 June 2022 versus six months to 30 June 2021). Financials are reported on a consolidated basis of MTN Rwandacell PLC and its subsidiary Mobile Money Rwanda Ltd.

MTN Rwanda defines Mobile subscribers as those active in 90 days and Data & MoMo subscribers as those active in 30 days. Service revenue is defined as revenue generated from activities performed by MTN operations or business units using a base transmission station (BTS).

Source: https://www.mtn.co.rw/investors-trading/more-investors/notices-and-upcoming-events/