MTN Nigeria Communications Plc
Unaudited condensed consolidated and separate financial statements
for the six months period ended 30 June 2022
MTN Nigeria Communications Plc
Unaudited condensed consolidated and separate financial statements for the six months period ended 30 June 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 - 38 |
1
MTN Nigeria Communications Plc
Unaudited condensed consolidated and separate financial statements for the six months period ended 30 June 2022
Financial highlights
6 months | 6 months | % Change | ||
ended 30 | ended 30 | |||
In millions of Nigerian Naira | Notes | June 2022 | June 2021 | |
Revenue | 6 | 950,086 | 791,263 | 20.07 |
Operating profit | 352,312 | 273,709 | 28.72 | |
Profit before taxation | 268,635 | 215,116 | 24.88 | |
Profit for the period | 181,629 | 141,827 | 28.06 | |
Basic/ diluted earnings per share (N) | 35 | 8.92 | 6.97 | 28.06 |
As at 30 | As at 31 | % Change | ||
June 2022 | Dec. 2021 | |||
Share capital | 407 | 407 | - | |
Total equity | 269,535 | 264,981 | 1.72 | |
Net assets per share (N) | 13.24 | 13.02 | 1.72 | |
Stock exchange information | ||||
Market price per share as at period end (N) | 230.00 | 164.00 | 40.24 | |
Market capitalisation as at period end (N'million) | 4,681,650 | 3,338,220 | 40.24 | |
Number of shares issued and fully paid as at period end (in millions) | 20,355 | 20,355 | - | |
The financial highlights reflect Group numbers only. |
2
MTN Nigeria Communications Plc
Unaudited condensed consolidated and separate financial statements for the six months period ended 30 June 2022
Condensed consolidated and separate statement of profit or loss
Group | Company | ||||||||
6 months | 6 months | 3 months | 3 months | 6 months | 6 months | 3 months | 3 months | ||
ended 30 | ended 30 | ended 30 | ended 30 | ended 30 | ended 30 | ended 30 | ended 30 | ||
In millions of Nigerian Naira | Notes | June 2022 | June 2021 | June 2022 | June 2021 | June 2022 | June 2021 | June 2022 | June 2021 |
Revenue | 6 | 950,086 | 791,263 | 479,103 | 405,947 | 949,637 | 790,793 | 478,947 | 405,554 |
Direct network operating costs | 11 | (215,810) | (192,429) | (108,534) | (98,558) | (215,810) | (192,429) | (108,534) | (98,558) |
Value added services | (11,078) | (8,934) | (5,365) | (4,709) | (11,078) | (8,934) | (5,365) | (4,709) | |
Costs of starter packs, handsets and accessories. | (9,851) | (1,414) | (5,873) | (1,141) | (9,851) | (1,414) | (5,873) | (1,141) | |
Interconnect costs | (71,131) | (62,206) | (35,592) | (31,030) | (71,131) | (62,206) | (35,592) | (31,030) | |
Roaming costs | (2,934) | (1,949) | (1,719) | (1,098) | (2,934) | (1,949) | (1,719) | (1,098) | |
Transmission costs | (3,806) | (4,152) | (1,799) | (2,163) | (3,806) | (4,152) | (1,799) | (2,163) | |
Discounts and commissions | (44,894) | (38,994) | (23,104) | (20,080) | (43,875) | (38,560) | (22,551) | (19,827) | |
Advertisements, sponsorships and sales promotions | (14,216) | (8,558) | (8,265) | (4,948) | (11,665) | (7,127) | (5,939) | (3,670) | |
Employee costs | 9 | (22,150) | (19,050) | (11,154) | (9,734) | (21,710) | (18,651) | (10,928) | (9,520) |
Depreciation of property and equipment | 13 | (82,913) | (80,863) | (41,932) | (48,636) | (82,913) | (80,863) | (41,932) | (48,636) |
Depreciation of right of use assets | 14 | (49,815) | (41,864) | (25,250) | (21,146) | (49,815) | (41,864) | (25,250) | (21,146) |
Amortisation of intangible assets | 15 | (24,277) | (20,777) | (12,003) | (2,274) | (21,617) | (18,117) | (10,672) | (945) |
Other operating expenses | 10 | (44,899) | (36,364) | (25,529) | (19,826) | (42,329) | (35,328) | (24,154) | (19,003) |
Operating profit | 352,312 | 273,709 | 172,984 | 140,604 | 361,103 | 279,199 | 178,639 | 144,108 | |
Finance income | 7 | 7,066 | 5,677 | 2,660 | 4,773 | 6,957 | 5,677 | 2,595 | 4,773 |
Finance costs | 8 | (90,743) | (64,270) | (50,602) | (33,241) | (90,743) | (64,270) | (50,602) | (33,241) |
Profit before taxation | 268,635 | 215,116 | 125,042 | 112,136 | 277,317 | 220,606 | 130,632 | 115,640 | |
Taxation | 12 | (87,006) | (73,289) | (40,237) | (44,048) | (89,478) | (74,937) | (41,780) | (45,101) |
Profit for the period | 181,629 | 141,827 | 84,805 | 68,088 | 187,839 | 145,669 | 88,852 | 70,539 | |
Profit attributable to: | |||||||||
Owners of the parent | 181,940 | 141,827 | 85,116 | 68,088 | 187,839 | 145,669 | 88,852 | 70,539 | |
Non-controlling interest | (311) | - | (311) | - | - | - | - | - | |
181,629 | 141,827 | 84,805 | 68,088 | 187,839 | 145,669 | 88,852 | 70,539 | ||
Earnings per share | |||||||||
Earnings per share- | |||||||||
basic/diluted (N) | 35 | 8.92 | 6.97 | 4.17 | 3.35 | 9.23 | 7.16 | 4.37 | 3.47 |
3
MTN Nigeria Communications Plc
Unaudited condensed consolidated and separate financial statements for the six months period ended 30 June 2022
Condensed consolidated and separate statement of other comprehensive income
Group | Company | ||||||||
6 months | 6 months | 3 months | 3 months | 6 months | 6 months | 3 months | 3 months | ||
ended 30 | ended 30 | ended 30 | ended 30 | ended 30 | ended 30 | ended 30 | ended 30 | ||
In millions of Nigerian Naira | June 2022 | June 2021 | June 2022 | June 2021 | June 2022 | June 2021 | June 2022 | June 2021 | |
Profit for the period | 181,629 | 141,827 | 84,805 | 68,088 | 187,839 | 145,669 | 88,852 | 70,539 | |
Items that may be reclassified to profit or loss | |||||||||
Transfer of fair value reserve of investments designated at FVOCI* | (111) | - | (155) | - | (111) | - | (155) | - | |
Other comprehensive income for the period net of taxation | (111) | - | (155) | - | (111) | - | (155) | - | |
Total comprehensive income for the period | 181,518 | 141,827 | 84,650 | 68,088 | 187,728 | 145,669 | 88,697 | 70,539 | |
Attributable to: | |||||||||
Owners of the parent | 181,829 | 141,827 | 84,961 | 68,088 | 187,728 | 145,669 | 88,697 | 70,539 | |
Non-controlling interest | (311) | - | (311) | - | - | - | - | - | |
181,518 | 141,827 | 84,650 | 68,088 | 187,728 | 145,669 | 88,697 | 70,539 | ||
*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 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2022 16:26:24 UTC.