MTN Nigeria Communications Plc
Unaudited condensed consolidated and separate financial statements for the three months period ended 31 March 2022
Contents
Page | |
Financial highlights | 2 |
Condensed consolidated and separate statement of profit or loss | 3 |
Condensed consolidated and separate statement of other comprehensive income | 4 |
Condensed consolidated and separate statement of financial position | 5 |
Condensed consolidated and separate statement of changes in equity | 6 |
Condensed consolidated and separate statement of cash flows | 7 |
Notes to the condensed consolidated and separate financial statements | 8 - 37 |
1 |
Financial highlights
3 Months | 3 Months | % Change | ||
ended 31 | ended 31 | |||
In millions of Nigerian Naira | Notes | March 2022 | March 2021 | |
Revenue | 4 | 470,984 | 385,318 | 22.23 |
Operating profit | 179,326 | 133,107 | 34.72 | |
Profit before taxation | 143,588 | 102,989 | 39.42 | |
Profit for the period | 96,820 | 73,748 | 31.28 | |
Basic/ diluted earnings per share (N) | 32 | 4.76 | 3.62 | 31.28 |
As at 31 | As at 31 | % Change | ||
March 2022 | December | |||
2021 | ||||
Share capital | 407 | 407 | - | |
Total equity | 356,984 | 264,981 | 34.72 | |
Net assets per share (N) | 17.54 | 13.02 | 34.72 | |
Stock exchange information | ||||
Market price per share as at period end (N) | 214.00 | 197.00 | 8.63 | |
Market capitalisation as at period end (N'million) | 4,355,970 | 4,009,935 | 8.63 | |
Number of shares issued and fully paid as at period end (in millions) | 20,355 | 20,355 | - | |
The financial highlights reflect Group numbers only. |
Condensed consolidated and separate statement of profit or loss
3 Months | |||
ended 31 | |||
In millions of Nigerian Naira | Notes | March 2022 | March 2021 |
Revenue | 4 | 470,984 | 385,318 |
Direct network operating costs | 9 | (107,275) | (92,347) |
Value added services | (5,712) | (4,699) | |
Costs of starter packs, handsets and accessories. | (4,904) | (269) | |
Interconnect costs | (35,539) | (31,176) | |
Roaming costs | (1,215) | (851) | |
Transmission costs | (2,007) | (1,989) | |
Discounts and commissions | (21,790) | (18,914) | |
Advertisements, sponsorships and sales promotions | (5,951) | (3,609) | |
Employee costs | 7 | (10,997) | (9,316) |
Depreciation of property and equipment | 11 | (40,979) | (32,224) |
Depreciation of right of use assets | 12 | (24,566) | (20,717) |
Amortisation of intangible assets | 13 | (12,277) | (18,502) |
Other operating expenses | 8 | (18,446) | (17,598) |
Operating profit | 179,326 | 133,107 | |
Finance income | 5 | 4,587 | 1,227 |
Finance costs | 6 | (40,325) | (31,345) |
Profit before taxation | 143,588 | 102,989 | |
Taxation | 10 | (46,768) | (29,241) |
Profit for the period | 96,820 | 73,748 | |
Earnings per share | |||
Per share information | |||
Earnings per share- basic/diluted | 32 | 4.76 | 3.62 |
Group | ||
3 Months | 3 Months | 3 Months |
ended 31 | ended 31 | ended 31 |
March 2022 | March 2021 | |
470,691 | 385,241 | |
(107,275) | (92,347) | |
(5,712) | (4,699) | |
(4,904) | (269) | |
(35,539) | (31,176) | |
(1,215) | (851) | |
(2,007) | (1,989) | |
(21,324) | (18,733) | |
(5,726) | (3,457) | |
(10,782) | (9,131) | |
(40,979) | (32,224) | |
(24,566) | (20,717) | |
(10,947) | (17,172) | |
(17,250) | (17,383) | |
182,465 | 135,093 | |
4,543 | 1,227 | |
(40,325) | (31,345) | |
146,683 | 104,975 | |
(47,697) | (29,836) | |
98,986 | 75,139 | |
4.86 | 3.69 |
Company
Condensed consolidated and separate statement of other comprehensive income
3 Months | ||
ended 31 | ||
In millions of Nigerian Naira | March 2022 | March 2021 |
Profit for the period | 96,820 | 73,748 |
Items that may be reclassified to profit or loss | ||
Transfer of fair value reserve of investments designated at FVOCI* | 52 | - |
Other comprehensive income for the period net of taxation | 52 | - |
Total comprehensive income for the period | 96,872 | 73,748 |
Attributable to: | ||
Owners of the parent | 96,872 | 73,748 |
96,872 | 73,748 |
Group | ||
3 Months | 3 Months | 3 Months |
ended 31 | ended 31 | ended 31 |
March 2022 | March 2021 | |
98,986 | 75,139 | |
52 | - | |
52 | - | |
99,038 | 75,139 | |
99,038 | 75,139 | |
99,038 | 75,139 |
Company
*Financial assets classified as financial assets at fair value through other comprehensive income are Federal Government treasury bills investments which are exempted from company income tax.
The accompanying notes are an integral part of these condensed consolidated financial statements.
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MTN Nigeria Communications Limited published this content on 29 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 April 2022 04:31:04 UTC.