MTN Group Limited
Five-Year Review for the year ended 31 December 2021
Five-year financial review
Income statement
Revenue
Other income2 Operating expenses3 EBITDA
Depreciation and amortisation Impairment of goodwill Operating profit
Net finance costs Finance income Finance costs
Loss on derecognition of long-term loan receivable
Net monetary gain
Share of profit or (loss) of associates and joint ventures after tax
Profit before tax Income tax expense Profit after tax
Profit after tax attributable to - Equity holders of the Company - Non-controlling interests Headline earnings
8 181 646
(27) 1 889
4 (107 377)
13 76 158
10 (34 640)
19 40 935
12 (14 448)
(23)1 198
5(15 646)
32 28 816
24 (11 822)
39 16 994
33 13 750
1 Compound annual growth rate.
CAGR1
%
2021
Rm
(31)
(583)
-
1 25
2752 054
122 53
3 24417 781
2 Includes the gain on disposal/dilution of investment in joint ventures and associates.
2020
Rm
2019
Rm
179 361
6 228
(104 278)
151 460
1 510
(88 741)
81 311
(35 651)
(1 065)
64 229
(32 458)
(342)
(18 233)
44 595
1 493
(19 726)
31 429 (15 184)
1 873 (17 057)
1 582
-
1 142
- 787 705
29 086 (9 439)
19 647
17 022
2 625
17 737 (6 908) 10 829
13 473
9 100
1 729 8 411
2018
Rm
2017
Rm
134 560
(89 500)
48 246
(24 358)
23 576 (8 331) 1 992 (10 323)
15 008 (5 430)
3 Includes the loss on deconsolidation of subsidiary and impairment loss on remeasurement of non-current assets held for sale.
132 869
3 186
6 591
(92 489)
46 971
(23 767)
(312)
(2 631)
20 573
(9 267)
3 488
(12 755)
-
(2 840)
290 264
(527) 840
9 570 (5 020)
9 578
4 550
8 719 859 6 055
4 416 134 3 279
EBITDA (R million) and EBITDA margin (%)
Headline earnings and dividends per share (cents)
Statement of financial position
Property, plant and equipment Intangible assets and goodwill Right of use asset
Investments and other non-current assets Deferred tax assets
Bank balances, deposits and cash Other current assets Non-current assets held for sale
Total assets
Equity attributable to equity holders of the Company
Non-controlling interests
Total equity Interest-bearing liabilities Lease liabilities Non-interest-bearing liabilities Deferred tax liabilities
Liabilities directly associated with non-current assets held for sale
Total liabilities
2 99 769
3 43 76042 957
(7) 38 389
33 85 158
(1) 41 2517 291
4 111 047
11 107 932
Total equity and liabilities
1 Compound annual growth rate.
Total assets (R million)
CAGR1 %
2021
Rm
46
2020
Rm
2019
Rm
100 576
39 069
46 156
42 681
7 223
10
6 355
65 886
44 203
4 016
98 312
36 866
44 984
40 797
5 070
39 096
36 348
838
365 798
27 5 -
3 935
114 982
80 902
47 914
5
348 942
302 311
102 873
3 352
83 897
2 203
106 225
96 249
49 481
85 994
9 666
9 909
4 402
1 084
12 10
250 816365 798
242 717 348 942
2018
Rm
100 581
40 331 -
39 196
3 702
30 210
40 056
2 759
256 835
84 799
3 427
86 100
88 226
94 280
46 327
85 001 -
65 201
74 111
10 403
9 497
-
-
216 211 302 311
168 609 256 835
Equity (R million) and return (%)
2017
Rm
91 786
38 330 -
51 414
1 590
27 398
42 316 -
252 834
93 804
1 532
95 336
79 720 -
69 852
7 926
-
157 498 252 834
CAGR1 %
2021
Statement of cash flows
Statement of cash flows - extracts Cash generated from operations Dividends paid to equity holders of the Company
Net cash inflows from operating activities Net cash used in investing activities
Net cash used in financing activities
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of the year
Exchange (losses)/gains on cash and cash equivalents
Cash classified as held for sale
Cash and cash equivalents at end of the year
Acquisition of property, plant and equipment
Net cash inflows from operating activities Net cash used in investing activities Net cash used in financing activities |
| 58 513 (33 512) (13 705) 36 289 (24 542) (4 340) 32 389 (23 219) (11 123) 33 387 (27 585) (14 612) |
Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of the year Exchange (losses)/gains on cash and cash equivalents Cash classified as held for sale | - 3 10 154 30 636 (8) - (1 895) 124 |
7 407 14 967 (1 953) (8 810) (2 143) (1 382) (124) 615 15 937 1 598 (615) 27 375 (2 628) - |
Cash and cash equivalents at end of the year | 25 39 019 | 30 636 21 607 14 967 15 937 |
Statement of cash flows - extracts Cash generated from operations Dividends paid to equity holders of the Company Acquisition of property, plant and equipment | 23 88 670 (100) - 1 (24 413) | 78 580 55 197 40 345 38 484 (6 462) (9 352) (11 236) (12 565) (23 502) (23 416) (24 224) (23 861) |
1 Compound annual growth rate.
Rm
2020
Rm
2019
Rm
2018
Rm
2017
Rm
CAGR1
%
2021
2020
2019
2018
2017
Diluted earnings (cents)
Headline earnings (cents)
Dividends (cents)
Net asset value - book value (rands)
Returns and profitability ratios Return on assets (%)
EBITDA margin (%) Adjusted free cash flow EBITDA multiple (times) Effective taxation rate (%)
Solvency and liquidity ratios Gearing (%)
Interest cover (times) Dividends cover (times) Net debt to EBITDA
Operating cash flow/revenue (%)
Share statistics
Closing price (cents per share)
Market capitalisation (Rm)
Performance per ordinary share Basic earnings (cents) Diluted earnings (cents) Headline earnings (cents) Dividends (cents) Net asset value - book value (rands)(2) | 33 763 33 744 53 987 (19) 300 4 58.93 | 946 506 485 246 936 498 478 241 749 - 468 337 182 550 500 700 54.6 44.5 45.0 50.0 |
Returns and profitability ratios Return on assets (%)(3) EBITDA margin (%) Adjusted free cash flow EBITDA multiple (times)(4) Effective taxation rate (%) | 11.5 41.9 24 36 773 4.7 41.0 | 13.7 11.2 9.3 8.0 45.3 42.4 35.9 35.4 48 272 31 361 22 228 15 510 2.1 3.5 4.6 6.5 32.5 38.9 36.2 52.5 |
Solvency and liquidity ratios Gearing (%)(5) Interest cover (times)(6) Dividends cover (times)(7) Net debt to EBITDA(8) Operating cash flow/revenue (%) | 30.1 2.6 3.1 0.5 48.8 | 55.0 81.9 62.1 54.9 2.3 N/A 1.8 2.8 2.2 0.8 0.6 0.2 0.7 1.1 1.2 1.1 43.8 36.4 30.0 29.0 |
Share statistics Closing price (cents per share) Market capitalisation (Rm) |
| 6 019 113 414 8 249 155 433 8 900 167 676 13 446 253 359 |
Definitions
1 Compound annual growth rate
2 Equity attributable to equity holders of the Company divided by the number of ordinary shares in issue at year-end.
3 Operating profit as a percentage of the average of the opening and closing balances of total assets.
4 Market capitalisation plus net debt (interest-bearing liabilities less bank balances, deposits and cash) divided by EBITDA for the year.
5 Net debt as a percentage of total equity at year-end.
6 Operating profit divided by interest expense.
7 Headline earnings for the year divided by the total dividend in respect of the applicable financial year.
8 Net debt at year-end, divided by EBITDA for the year.
Market capitalisation (R million)
Closing share price (cents)
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Disclaimer
MTN Group Ltd. published this content on 14 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 April 2022 15:18:07 UTC.