May 14, 2020 / 6:58 AM / 19 days ago

BRIEF-MTN Group Maintains Medium-Term Guidance

May 14 (Reuters) - MTN Group Ltd:

* JSE: MTN - MTN QUARTERLY UPDATE FOR THE PERIOD ENDED 31 MARCH 2020

* MTN GROUP LTD - QTRLY SUBSCRIBERS INCREASED BY 6,6 MILLION TO 257,3 MILLION

* MTN GROUP LTD - QUARTERLY GROUP SERVICE REVENUE INCREASED BY 11,1%

* MTN GROUP LTD - QTRLY ACTIVE DATA SUBSCRIBERS INCREASED BY 2,9 MILLION TO 98,3 MILLION

* MTN GROUP LTD - COVID-19 SITUATION IS AN EVOLVING ONE AND WILL UNDOUBTEDLY AFFECT YEAR AHEAD.

* MTN GROUP LTD - QTRLY GROUP EARNINGS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (EBITDA) MARGIN OF 43,2% (FROM 41,1%)

* MTN GROUP LTD - DIFFICULT TO RELIABLY QUANTIFY DIRECT AND INDIRECT FINANCIAL EFFECTS ON BUSINESS AT THIS EARLY STAGE

* MTN GROUP LTD - INCREASE IN DEMAND FOR OUR DATA AND DIGITAL SERVICES HAS DRIVEN A SURGE IN USAGE AND TRAFFIC ON OUR NETWORKS

* MTN GROUP LTD - IMPACT OF PANDEMIC ON OUR QUARTER ONE PERFORMANCE WAS NOT SIGNIFICANT

* MTN GROUP LTD - MAINTAIN OUR MEDIUM-TERM GUIDANCE

* MTN GROUP LTD - MAINTAIN MEDIUM-TERM GUIDANCE

* MTN GROUP - DATA TRAFFIC ON NETWORKS HAS, ON AGGREGATE, ACCELERATED BY MORE THAN 30% WHEN COMPARING TRAFFIC LEVELS AT END OF APRIL AGAINST FEB

* MTN GROUP LTD - LOOKING AHEAD, CURRENT ENVIRONMENT IS MARKED BY SIGNIFICANT UNCERTAINTIES

* MTN GROUP LTD - AGREED WITH AUTHORITIES IN UGANDA TO EXTEND LICENCE IN THAT MARKET TO JUNE 2032, FOR A CONSIDERATION OF US$100 MILLION

* MTN GROUP LTD - NET DEBT STOOD AT R55,4 BILLION AT MARCH 2020

* MTN GROUP LTD - AT 31 MARCH 2020, OUR HOLDING COMPANY LIQUIDITY HEADROOM STOOD AT APPROXIMATELY R45,2 BILLION

* MTN GROUP LTD - TO DATE, THERE HAS BEEN MODERATE DISRUPTION TO OUR SUPPLY CHAIN

* MTN GROUP LTD - UPDATED CAPEX GUIDANCE FOR 2020 IS BETWEEN R21 BILLION AND R22,0 BILLION

* MTN GROUP LTD - OUR UPDATED CAPEX GUIDANCE FOR 2020 IS BETWEEN R21 BILLION AND R22,0 BILLION, FROM R28,3 BILLION GUIDED AT 2019 RESULTS

* MTN GROUP LTD - COMFORTABLY WITHIN OUR DEBT COVENANTS, WHICH ARE GAUGED ON A GROUP CONSOLIDATED BASIS

* MTN GROUP LTD - MEDIUM-TERM PRIORITIES REMAIN TO REDUCE OUR EXPOSURE TO US DOLLAR DEBT AND IMPROVE FUNDING MIX AT HOLDCO LEVEL Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below