Mobile Telecommunication Network (MTN) Nigeria grossed N453.1 billion Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) in 2018.

The telecommunications giant also attracted an additional six million subscribers into its network in 2018.

All these were contained in the company’s annual report made available to the press in Lagos on Thursday.

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According to the company, the six million subscribers brought its total subscribers to 58 million. It said the 2018 Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) represented 30.8 percent profit growth.

The company also disclosed its intention to list by introduction on the Nigerian Stock Exchange (NSE) in the first half of 2019.

The financial report showed a service revenue increase of 17.2 percent, data revenue increase of 39.3 percent, digital revenue decreased by 58.1 percent and Fintech revenue increase of 32.7 percent.

It also showed an EBITDA margin increase by 4.5 per cent to a total 43.6 per cent (excl CBN payment).

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Speaking on the results, the CEO, Mr Ferdi Moolman, said: “This growth was built on our sustained focus on customer centric delivery – ensuring that customers get much more value for their money.

“This included deployment of proactive interventions to improve customer experience, together with enhancement of network quality and coverage, and optimisation of our services portfolio.

“We also enabled an additional eight million people to access the possibilities that the internet provides, bringing our total data subscriber base to 44 million, of which 18.7 million use more than five megabytes per month.

“We are now even better positioned to ensure that everyone can access the benefits of a modern connected life.”

The CEO, Mr Ferdi Moolman thanked MTN Nigeria partners and regulators for their contributions.

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Moolman said that the communication company understood how access to opportunities enabled by the internet could open up new industries even in the remotest places.

Moolman also stated that there was a need to continue to focus on delivering social innovations such as mobile electricity and financial services for all.

He added that the company would continue to leverage its technology to enable high-impact mobile solutions in education, health, and agriculture in communities.

The CEO said futher, “MTN plans to list by introduction on the Nigerian Stock Exchange during the first half of 2019, and is looking to simplify the capital structure ahead of this listing.

“The company’s listing on the exchange will create a new telecoms asset class for investors and provide an opportunity for a wider group of Nigerians to participate in our investment story,” he concluded.

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