MTN closed 2009 with 116 million subscribers

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) March 11, 2010 -- MTN, the largest Africa-based mobile network operator has reported its 2009 year-end results revealing strong performance in operations and a moderate but appreciable growth in financials.

As a matter of fact, the South African group posted consolidated revenue of ZAR111.9 billion and EBITDA of ZAR46.1 billion in 2009 which represents an increase of 9.2% and 6.7% respectively in comparison to 2008. According to the company’s report, this financial performance was mainly due to strong underlying organic growth in key markets except South Africa.

As for operational performance, MTN delivered strong subscriber growth in 2009 claiming 116 million customers on its network up 28% on an yearly basis. Among the strong contributors to this growth are Nigeria, Iran, Ghana and Syria while at the opposite the domestic market declined.

As far as future prospectives are concerned, MTN expects to attract about 20 million new customers in 2010, thanks to its plans to actively seek opportunities in emerging market as well as optimising network efficiencies.

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