MTC income increased by 4.64% to N$1.45 billion largely as a result of continued data revenue, prepaid revenue growth and the continued expansion of enterprise services.
This is according to the financial report released this week for the six months reporting period ended 31 March 2022.
“Increased demand for data and product innovations continued to be driven by changing technology trends, coupled with the continued roll-out of the 081Every1 campaign to remote areas. The new fixed line offerings have maintained the momentum gained during the second half of the 2021 financial year,” reads the financial
report.
It added that although the Namibian economy remained under pressure subsequent to the Covid-19 pandemic, MTC generated higher revenues by responding to customer needs for faster, simpler, more convenient and more cost-effective telecoms.
Earnings before interest, tax, depreciation and amortisation (EBITDA) decreased by 5.4% to N$711 million, primarily due to the re-introduction of the CRAN levy in the 2022 financial year based on the newly instituted regulations and high court ruling.
This also impacted operational profitability, despite continued efforts and interventions for cost saving. Net Profit after Tax (NPAT) decreased by 0.42% to N$395.7 million due to increased depreciation and amortisation related to significant capital expenditure realised during the period.
MTC stated that the emergence of new Covid-19 variants could prolong the pandemic and induce renewed economic disruptions not currently forecasted.
“Moreover, supply chain disruptions, energy price volatility and localised wage pressures mean uncertainty around inflation and policy paths, which could negatively impact the performance and outlook for the company in the short to medium term,” it said.
MTC will continue to implement its customer-centric digital transformation strategy with the objectives of keeping its customers connected, maintaining financial performance and maximising the value of MTC shares, while continuing to generate proceeds for Namibia’s national fiscus, said the telecommunication
giant.