Investor Presentaiton
Mobile services
Description
Summarised statement of operations
Quarter ended
Unit of
measure
Jun-22
Reported
Constant
Jun-21
currency
currency
change
change
Revenue (1)
$m
1,135
1,018
11.6%
14.2%
Voice Revenue
$m
610
562
8.6%
11.3%
Data Revenue
$m
418
356
17.3%
19.8%
Other Revenue
$m
107
99
8.2%
10.6%
EBITDA
$m
526
481
9.4%
11.3%
EBITDA Margin
%
46.3%
47.2%
(93) bps
(119) bps
Depreciation & Amortization
$m
(182)
(171)
6.7%
9.6%
Operating Exceptional Items
$m
-
0.0%
0.0%
Operating Profit
$m
344
310
10.9%
12.3%
Capex
$m
127
100
27.0%
27.0%
Operating Free Cash Flow
$m
399
381
4.7%
7.2%
Operating KPIs
Mobile voice
Customer base
Voice ARPU
Mobile data
Data customer base
Data ARPU
Mn
131.6
120.8
8.9%
$
1.6
1.6
(0.7%)
1.8%
Mn
$
46.5
2.9
42.4
2.9
9.7%
2.8%
5.0%
(1) Mobile service revenue after inter-segment eliminations was $1,134m in the quarter ended 30 June 2022 and $1,016m in the prior period.
Revenue from mobile services grew by 11.6% in reported currency, and in constant currency grew by 14.2%. The constant currency
growth was evident in all regions and key services. Mobile services revenue grew in Nigeria by 18.3%, in East Africa by 11.1% and in
Francophone Africa by 10.6%.
Voice revenue grew by 11.3% in constant currency, supported by both customer base growth of 8.9% and voice ARPU growth of 1.8%.
Customer base growth was driven by the expansion of our network and distribution infrastructure. The slowdown in voice revenue
growth this quarter was due to the barring of outgoing calls for those customers in Nigeria who had not submitted their NINs. A total
of 13.6 million customers were initially barred out of which 5.3 million (39%) have subsequently submitted their NIN and 2.3 million
(17%) have subsequently been verified and unbarred. The voice ARPU growth of 1.8% was driven by an increase in voice usage per
customer of 6.0%, reaching 264 minutes per customer per month, with total minutes on the network increasing by 15.9%.
Data revenue grew by 19.8% in constant currency, driven by both customer base growth of 9.7% and data ARPU growth of 5.0%. The
customer base growth was recorded across all the regions supported by the expansion of our 4G network. 88.4% of our total sites are
now on 4G, compared with 79.4% in the prior period. 44.1% of total data customers are 4G users (up from 37.9%) contributing to 71.9%
of total data usage. Data usage per customer increased to 4.0 GB per customer per month (from 3.2 GB in the prior period) while 4G
data usage per customer reached 6.6 GB per month (from 5.1 GB in the prior period). In the quarter, data revenue contributed to 36.8%
of total mobile services revenue, up from 35.0% in the prior period. Compared to recent quarters, data revenue growth was slower
largely the result of a slowdown in the growth of data usage per customer as well as higher churn due to NIN-related call barring in
Nigeria and lower ARPU growth in certain markets.
EBITDA was $526m, growing by 11.3% in constant currency. The EBITDA margin declined by 93 basis points to 46.3% (declined by 119
basis points in constant currency). The reduction in EBITDA margin was due to an increase in operating cost.
Operating free cash flow was $399m, up by 7.2%, due to the expansion of EBITDA partially offset by higher capex.
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