MTN Group Ltd
JSE:MTN
Income Statement
Earnings Waterfall
MTN Group Ltd
Revenue
|
221.1B
ZAR
|
Cost of Revenue
|
-63.3B
ZAR
|
Gross Profit
|
157.7B
ZAR
|
Operating Expenses
|
-110.3B
ZAR
|
Operating Income
|
47.4B
ZAR
|
Other Expenses
|
-43.3B
ZAR
|
Net Income
|
4.1B
ZAR
|
Income Statement
MTN Group Ltd
Sep-2003 | Mar-2004 | Sep-2004 | Mar-2005 | Sep-2005 | Jun-2006 | Dec-2006 | Jun-2007 | Dec-2007 | Jun-2008 | Dec-2008 | Jun-2009 | Dec-2009 | Jun-2010 | Dec-2010 | Jun-2011 | Dec-2011 | Jun-2012 | Dec-2012 | Jun-2013 | Dec-2013 | Jun-2014 | Dec-2014 | Jun-2015 | Dec-2015 | Jun-2016 | Dec-2016 | Jun-2017 | Dec-2017 | Jun-2018 | Dec-2018 | Jun-2019 | Dec-2019 | Jun-2020 | Dec-2020 | Jun-2021 | Dec-2021 | Jun-2022 | Dec-2022 | Jun-2023 | Dec-2023 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||||||||||||||||||||||
Revenue |
21 994
N/A
|
23 871
+9%
|
26 321
+10%
|
28 994
+10%
|
32 452
+12%
|
37 389
+15%
|
51 595
+38%
|
65 592
+27%
|
73 145
+12%
|
85 067
+16%
|
102 526
+21%
|
113 667
+11%
|
111 947
-2%
|
110 667
-1%
|
114 684
+4%
|
115 237
+0%
|
121 884
+6%
|
124 760
+2%
|
121 867
-2%
|
128 158
+5%
|
137 270
+7%
|
144 320
+5%
|
146 930
+2%
|
143 475
-2%
|
147 063
+3%
|
156 874
+7%
|
147 920
-6%
|
133 620
-10%
|
132 869
-1%
|
130 831
-2%
|
134 560
+3%
|
144 288
+7%
|
151 460
+5%
|
163 031
+8%
|
179 361
+10%
|
181 958
+1%
|
181 646
0%
|
192 464
+6%
|
207 003
+8%
|
222 715
+8%
|
221 056
-1%
|
|
Gross Profit | ||||||||||||||||||||||||||||||||||||||||||
Cost of Revenue |
(14 130)
|
(14 888)
|
(16 061)
|
(16 975)
|
(15 747)
|
(13 790)
|
(18 394)
|
(23 719)
|
(27 425)
|
(31 923)
|
(38 118)
|
(43 180)
|
(43 231)
|
(41 735)
|
(42 191)
|
(43 488)
|
(47 091)
|
(47 934)
|
(46 566)
|
(48 411)
|
(51 529)
|
(54 630)
|
(49 159)
|
(48 663)
|
(51 327)
|
(54 932)
|
(58 369)
|
(55 239)
|
(55 897)
|
(55 213)
|
(47 739)
|
(47 080)
|
(43 947)
|
(45 754)
|
(50 293)
|
(49 964)
|
(47 855)
|
(51 068)
|
(56 197)
|
(61 244)
|
(63 318)
|
|
Gross Profit |
7 864
N/A
|
8 983
+14%
|
10 260
+14%
|
12 019
+17%
|
16 705
+39%
|
23 599
+41%
|
33 201
+41%
|
41 873
+26%
|
45 720
+9%
|
53 144
+16%
|
64 408
+21%
|
70 487
+9%
|
68 716
-3%
|
68 932
+0%
|
72 493
+5%
|
71 749
-1%
|
74 793
+4%
|
76 826
+3%
|
75 301
-2%
|
79 747
+6%
|
85 741
+8%
|
89 690
+5%
|
97 771
+9%
|
94 812
-3%
|
95 736
+1%
|
101 942
+6%
|
89 551
-12%
|
78 381
-12%
|
76 972
-2%
|
75 618
-2%
|
86 821
+15%
|
97 208
+12%
|
107 513
+11%
|
117 277
+9%
|
129 068
+10%
|
131 994
+2%
|
133 791
+1%
|
141 396
+6%
|
150 806
+7%
|
161 471
+7%
|
157 738
-2%
|
|
Operating Income | ||||||||||||||||||||||||||||||||||||||||||
Operating Expenses |
(2 047)
|
(2 376)
|
(3 048)
|
(2 955)
|
(6 314)
|
(11 723)
|
(17 107)
|
(21 307)
|
(22 848)
|
(27 231)
|
(34 001)
|
(36 802)
|
(37 128)
|
(37 649)
|
(40 356)
|
(38 751)
|
(35 502)
|
(36 149)
|
(38 616)
|
(42 256)
|
(44 589)
|
(45 652)
|
(53 523)
|
(48 118)
|
(68 167)
|
(80 240)
|
(74 844)
|
(56 123)
|
(53 768)
|
(54 775)
|
(65 409)
|
(69 283)
|
(77 030)
|
(82 499)
|
(88 027)
|
(88 307)
|
(88 616)
|
(90 334)
|
(94 319)
|
(102 525)
|
(110 326)
|
|
Selling, General & Administrative |
0
|
0
|
0
|
0
|
(3 094)
|
(6 536)
|
(7 949)
|
(9 162)
|
(9 071)
|
(10 784)
|
(13 274)
|
(14 167)
|
(14 649)
|
(15 136)
|
(14 741)
|
(13 608)
|
(14 805)
|
(15 657)
|
(15 631)
|
(16 765)
|
(16 362)
|
(14 940)
|
(17 174)
|
(17 343)
|
(18 412)
|
(20 688)
|
(19 172)
|
(17 913)
|
(17 194)
|
(16 652)
|
(27 118)
|
(29 056)
|
(29 985)
|
(32 216)
|
(36 228)
|
(36 405)
|
(35 382)
|
(36 420)
|
(39 259)
|
(42 484)
|
(43 678)
|
|
Depreciation & Amortization |
(2 048)
|
(2 376)
|
(2 748)
|
(2 955)
|
(3 220)
|
(3 947)
|
(6 319)
|
(8 387)
|
(8 973)
|
(10 378)
|
(12 759)
|
(14 346)
|
(14 475)
|
(14 517)
|
(15 368)
|
(15 460)
|
(15 459)
|
(15 475)
|
(15 952)
|
(17 504)
|
(19 278)
|
(21 161)
|
(21 513)
|
(21 377)
|
(23 293)
|
(25 630)
|
(25 736)
|
(24 392)
|
(23 767)
|
(23 378)
|
(24 358)
|
(28 808)
|
(32 458)
|
(34 472)
|
(35 651)
|
(34 789)
|
(34 640)
|
(34 775)
|
(34 618)
|
(37 104)
|
(42 268)
|
|
Other Operating Expenses |
0
|
0
|
(300)
|
0
|
0
|
(1 240)
|
(2 839)
|
(3 758)
|
(4 804)
|
(6 069)
|
(7 968)
|
(8 289)
|
(8 004)
|
(7 996)
|
(10 247)
|
(9 683)
|
(5 238)
|
(5 017)
|
(7 033)
|
(7 987)
|
(8 949)
|
(9 551)
|
(14 836)
|
(9 398)
|
(26 462)
|
(33 922)
|
(29 936)
|
(13 818)
|
(12 807)
|
(14 745)
|
(13 933)
|
(11 419)
|
(14 587)
|
(15 811)
|
(16 148)
|
(17 113)
|
(18 594)
|
(19 139)
|
(20 442)
|
(22 937)
|
(24 380)
|
|
Operating Income |
5 817
N/A
|
6 607
+14%
|
7 212
+9%
|
9 064
+26%
|
10 391
+15%
|
11 876
+14%
|
16 094
+36%
|
20 566
+28%
|
22 872
+11%
|
25 913
+13%
|
30 407
+17%
|
33 685
+11%
|
31 588
-6%
|
31 283
-1%
|
32 137
+3%
|
32 998
+3%
|
39 291
+19%
|
40 677
+4%
|
36 685
-10%
|
37 491
+2%
|
41 152
+10%
|
44 038
+7%
|
44 248
+0%
|
46 694
+6%
|
27 569
-41%
|
21 702
-21%
|
14 707
-32%
|
22 258
+51%
|
23 204
+4%
|
20 843
-10%
|
21 412
+3%
|
27 925
+30%
|
30 483
+9%
|
34 778
+14%
|
41 041
+18%
|
43 687
+6%
|
45 175
+3%
|
51 062
+13%
|
56 487
+11%
|
58 946
+4%
|
47 412
-20%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
Interest Income Expense |
(822)
|
(595)
|
(442)
|
(248)
|
(149)
|
342
|
(1 404)
|
(3 249)
|
(3 165)
|
(3 176)
|
(1 917)
|
(4 050)
|
(5 815)
|
(4 324)
|
(4 042)
|
(2 504)
|
(1 620)
|
(983)
|
(782)
|
752
|
2 197
|
650
|
540
|
225
|
(1 784)
|
(9 129)
|
(10 622)
|
(5 863)
|
(8 427)
|
(9 029)
|
(8 858)
|
(12 495)
|
(14 262)
|
(12 680)
|
(17 265)
|
(18 687)
|
(12 437)
|
(12 730)
|
(14 957)
|
(18 844)
|
(35 488)
|
|
Non-Reccuring Items |
(598)
|
(599)
|
0
|
0
|
(41)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(31)
|
0
|
0
|
0
|
0
|
0
|
5 397
|
0
|
7 759
|
(1 108)
|
(565)
|
(2 900)
|
(2 631)
|
155
|
2 164
|
206
|
946
|
4 525
|
3 554
|
(5 266)
|
(4 240)
|
(1 377)
|
(1 891)
|
(896)
|
(900)
|
|
Total Other Income |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
878
|
1 374
|
1 348
|
1 771
|
1 723
|
871
|
(2 576)
|
(2 543)
|
290
|
528
|
570
|
719
|
1 756
|
1 377
|
318
|
201
|
1 251
|
1 415
|
744
|
|
Pre-Tax Income |
4 396
N/A
|
5 413
+23%
|
6 770
+25%
|
8 816
+30%
|
10 201
+16%
|
12 218
+20%
|
14 690
+20%
|
17 317
+18%
|
19 707
+14%
|
22 737
+15%
|
28 490
+25%
|
29 635
+4%
|
25 773
-13%
|
26 959
+5%
|
28 095
+4%
|
30 494
+9%
|
37 640
+23%
|
39 694
+5%
|
35 903
-10%
|
38 243
+7%
|
43 349
+13%
|
44 688
+3%
|
51 063
+14%
|
48 293
-5%
|
34 892
-28%
|
13 236
-62%
|
5 243
-60%
|
14 366
+174%
|
9 570
-33%
|
9 426
-2%
|
15 008
+59%
|
16 164
+8%
|
17 737
+10%
|
27 342
+54%
|
29 086
+6%
|
21 111
-27%
|
28 816
+36%
|
37 156
+29%
|
40 890
+10%
|
40 621
-1%
|
11 768
-71%
|
|
Net Income | ||||||||||||||||||||||||||||||||||||||||||
Tax Provision |
(841)
|
(1 101)
|
(1 257)
|
(1 502)
|
(1 759)
|
(2 360)
|
(2 591)
|
(4 309)
|
(7 791)
|
(10 162)
|
(11 355)
|
(10 371)
|
(8 612)
|
(9 554)
|
(11 268)
|
(12 181)
|
(13 853)
|
(14 509)
|
(11 835)
|
(11 566)
|
(12 487)
|
(13 018)
|
(13 361)
|
(12 349)
|
(11 322)
|
(9 799)
|
(8 346)
|
(6 036)
|
(5 020)
|
(5 145)
|
(5 430)
|
(6 069)
|
(6 908)
|
(8 597)
|
(9 439)
|
(10 627)
|
(11 822)
|
(13 937)
|
(17 036)
|
(16 007)
|
(7 751)
|
|
Income from Continuing Operations |
3 555
|
4 312
|
5 513
|
7 314
|
8 442
|
9 858
|
12 099
|
13 008
|
11 916
|
12 575
|
17 135
|
19 264
|
17 161
|
17 405
|
16 827
|
18 313
|
23 787
|
25 185
|
24 068
|
26 677
|
30 862
|
31 670
|
37 702
|
35 944
|
23 570
|
3 437
|
(3 103)
|
8 330
|
4 550
|
4 281
|
9 578
|
10 095
|
10 829
|
18 745
|
19 647
|
10 484
|
16 994
|
23 219
|
23 854
|
24 614
|
4 017
|
|
Income to Minority Interest |
(518)
|
(612)
|
(730)
|
(907)
|
(1 086)
|
(1 209)
|
(1 489)
|
(1 647)
|
(1 308)
|
(1 282)
|
(1 820)
|
(2 559)
|
(2 511)
|
(2 291)
|
(2 527)
|
(2 657)
|
(3 033)
|
(3 287)
|
(3 364)
|
(3 746)
|
(4 111)
|
(4 350)
|
(5 623)
|
(5 355)
|
(3 366)
|
(622)
|
489
|
5
|
(134)
|
(944)
|
(859)
|
(1 187)
|
(1 729)
|
(2 098)
|
(2 625)
|
(2 906)
|
(3 244)
|
(4 105)
|
(4 817)
|
(4 379)
|
75
|
|
Net Income (Common) |
3 037
N/A
|
3 700
+22%
|
4 783
+29%
|
6 407
+34%
|
7 356
+15%
|
8 649
+18%
|
10 610
+23%
|
11 361
+7%
|
10 608
-7%
|
11 293
+6%
|
15 315
+36%
|
16 705
+9%
|
14 650
-12%
|
15 114
+3%
|
14 300
-5%
|
15 656
+9%
|
20 754
+33%
|
21 898
+6%
|
20 704
-5%
|
22 931
+11%
|
26 751
+17%
|
27 320
+2%
|
32 079
+17%
|
30 589
-5%
|
20 204
-34%
|
2 815
-86%
|
(2 614)
N/A
|
8 335
N/A
|
4 416
-47%
|
3 337
-24%
|
8 719
+161%
|
8 908
+2%
|
9 100
+2%
|
16 647
+83%
|
17 022
+2%
|
7 578
-55%
|
13 750
+81%
|
19 114
+39%
|
19 037
0%
|
20 235
+6%
|
4 092
-80%
|
|
EPS (Diluted) |
1.83
N/A
|
2.24
+22%
|
2.88
+29%
|
3.86
+34%
|
4.43
+15%
|
5.14
+16%
|
5.52
+7%
|
6.1
+11%
|
5.7
-7%
|
6.06
+6%
|
8.12
+34%
|
8.96
+10%
|
7.76
-13%
|
8.09
+4%
|
7.72
-5%
|
8.32
+8%
|
11.2
+35%
|
11.8
+5%
|
11.15
-6%
|
12.42
+11%
|
14.52
+17%
|
14.84
+2%
|
17.42
+17%
|
16.71
-4%
|
11.06
-34%
|
1.54
-86%
|
-1.44
N/A
|
4.55
N/A
|
2.41
-47%
|
1.81
-25%
|
4.78
+164%
|
4.89
+2%
|
4.98
+2%
|
9.21
+85%
|
9.36
+2%
|
4.14
-56%
|
7.44
+80%
|
10.3
+38%
|
10.28
0%
|
11.2
+9%
|
2.23
-80%
|