MTN to report double-digit rise in earnings for FY22
JSE-listed MTN Group on Wednesday said that it expects to deliver a 35% to 45% increase in earnings per share (EPS) for the year ended December 31, 2022.
In a trading update to shareholders, it said that EPS is set to increase 267c to 343c to between 1 030c and 1 106c, compared with the 763c posted in the prior year.
The EPS includes impairment losses that mainly relate to investments, goodwill, and property, plant and equipment totalling about -44c; a -70c impairment loss on remeasurement of disposal groups; a 22c net gain on the disposal of SA towers; and a 9c net profit on disposal of property, plant and equipment and intangible assets.
In the 2021 financial year, the EPS was impacted by a -262c loss on deconsolidation of a subsidiary, as well as fair value gains on acquisition or disposal totalling 99c; both of which were zero during the current financial year under review.
The group also expects a 12% to 22%, or 118c to 217c, increase in headline earnings per share (HEPS) to between 1 105c and 1 204c apiece, up from 987c in the prior year.
HEPS was negatively impacted by some nonoperational and one-off items of about -159c. These include hyperinflation adjustments of 125c, foreign exchange losses of -181c, an IFRS 2 charge arising from the MTN Ghana localisation transaction of -4c, divestments of -24c, remeasurement of deferred tax asset at -65c and other non-operational items of -10c.
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