MTN Uganda revenues hit Ugx1.68 trillion, to issue Ugx5.40 per share interim dividend for the quarter ended September 30, 2022

MTN Uganda has released its quarterly results indicating that revenues have increased 11.62% to Ugx1.68 trillion ($444.28 million) driven by double digit performance in its data and fintech segments.

Crested Capital noted in a report that: “MTNU reported its third quarter earnings that were in line with our expectations for revenues and profits amidst the lingering effects of the economic downturn.”

Here are the key highlights and numbers in the earnings release as indicated in a Crested Capital report:

EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) was up 9.51% to Ugx852.46 billion ($225.32 million) while the EBITDA margin came in at 50.71%, above 51.69% for the same period under review last year.

EBITDA is important because it enables the analysis and comparability of profitability between companies and industries, as it eliminates the effects of financing, government or accounting decisions. This provides a rawer, clearer indication of earnings.

MTN Uganda’s Net Finance Costs rose 16.57% to Ugx129.04 billion ($34.11 million) from Ugx110.70 billion ($29.26 million) last year.  Finance costs increased 16.89% to Ugx133.58 billion ($35.01 million) while finance income was up 27.06% to Ugx4.54 billion ($1.20 million).

Sylvia Mulinge, MTN Uganda CEO (in the middle) cuts cake with staff to celebrate 24 years of MTN in Uganda.

Profitability: Pretax income advanced 22.44% to Ugx425.28 billion ($112.41 million) while profit after tax (PAT) rose 20.97% to Ugx292.66 billion ($77.35 million).

Dividends: As stated in the results release, the company directors have approved the payment of a second interim dividend of Ugx5.40 per share for the quarter ended September 30, 2022. The dividend will be paid on December 22, 2022 to shareholders of record as of December 01, 2022 (USE Effective Date: November 28, 2022).

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