MTN Sees Sharp Slowdown

Africa and Middle East mobile operator MTN said its revenue increased 3.1% on a constant currency basis in 2013 to 136.5 billion South African rand (12.65 billion US dollars), boosted by a 9.8% increase in group subscribers to almost 208 million. However, revenues grew 8.5% in 2012 on an organic basis. For 2013, MTN reported a 41% increase in data revenue to 20.7 billion rand, but data still only accounts for 15% of group revenue.

MTN said it spent 30.16 billion rand on capex in 2013 up 5%, on the year before. For 2014, it has allocated 26.15 billion rand for capex and plans a major reduction in spending in Nigeria. MTN forecast that it will add another 16 million subscribers in 2014. source: MTN presentation