Annuncio • Mar 28
MTN Group Limited, Annual General Meeting, May 29, 2026 MTN Group Limited, Annual General Meeting, May 29, 2026. Annuncio • Mar 17
MTN Group Limited announces Annual dividend, payable on April 13, 2026 MTN Group Limited announced Annual dividend of ZAR 5.0000 per share payable on April 13, 2026, ex-date on April 08, 2026 and record date on April 10, 2026. Annuncio • Mar 13
MTN Group Limited Announces Company Secretary Changes, Effective March 13, 2026 MTN Group Limited announced that its Group Company Secretary, Ms Thobeka Bonoyi has resigned effective 13 March 2026. Ms Lucy Mokoka has been appointed as Acting Group Company Secretary, effective 13 March 2026. Ms Mokoka was appointed at MTN as the Deputy Group Company Secretary in 2023. She is an admitted attorney and an experienced company secretary with approximately 28 years in legal, governance and compliance roles. She has previously served as a company secretary in various JSE-listed companies and holds Bachelor of Laws (LLB) and B Juris qualifications. The MTN Board of Directors is satisfied that Ms Mokoka has the competence, qualifications and experience to take up the position as Acting Group Company Secretary. Annuncio • Mar 03
MTN Group Limited Provides Earnings Guidance for the Year December 31, 2025 MTN Group Limited provided earnings guidance for the year ended December 31, 2025. For the year, the company expects EPS of 1,062 cents to 1,168 cents. The difference between Fiscal Year 25 EPS and Fiscal Year 25 HEPS is largely attributable to impairment losses that relate to investments, goodwill, property, plant and equipment totalling approximately 157 cents (FY 24: 578 cents). Annuncio • Mar 02
MTN Group Limited to Report Fiscal Year 2025 Results on Mar 16, 2026 MTN Group Limited announced that they will report fiscal year 2025 results on Mar 16, 2026 Annuncio • Feb 18
MTN Group Limited (JSE:MTN) agreed to acquire IHS Holding Limited (NYSE:IHS) for $2.9 billion. MTN Group Limited (JSE:MTN) agreed to acquire IHS Holding Limited (NYSE:IHS) for $2.9 billion on February 17, 2026. A cash consideration of $2.85 billion will be paid by MTN Group Limited. As part of consideration, $2.21 million is paid towards RSU common equity and $2.85 billion is paid towards common equity of IHS Holding Limited. In case of termination of transaction, MTN Group Limited will pay a termination fee of $149.0 million and seller will pay a termination fee of $104.3 million. Upon completion of the transaction IHS Holding will delist from the New York Stock Exchange and operate as a privately held company. The transaction will be funded through the rollover of MTN’s existing approximately 24% fully diluted stake in IHS, together with approximately $1.1 billion of cash from MTN, approximately $1.1 billion of cash from IHS balance sheet, and the rollover of no more than the existing IHS debt. On February 17, 2026, MTN Group Limited and Oranje-Nassau Développement S.C.A., FIAR, a fund managed by Wendel entered into a voting and support agreement with the Company with respect to the OND Covered Shares. As of the date of the OND Support Agreement, Oranje-Nassau Développement S.C.A., FIAR is the record and beneficial owner of 62,975,396 Ordinary Shares.
The transaction is subject to approval of merger agreement by target board, approval by regulatory board, approval of offer by target shareholders and minimum balance sheet requirements. IHS Holding Limited's board of directors has unanimously approved the entry into and the performance of the Merger Agreement, and recommended that the Company’s shareholders vote in favor of the authorization and approval of the Merger Agreement, the Plan of Merger, the Merger and the Transactions at the Company Shareholders Meeting. The transaction is expected to close in 2026, and is subject to certain closing conditions.
BofA Securities acted as financial advisor for MTN Group Limited. Citigroup Global Markets Holdings Inc. acted as financial advisor for MTN Group Limited. Richard Hall? of Cravath, Swaine & Moore LLP acted as legal advisor for MTN Group Limited. JPMorgan Chase & Co. acted as financial advisor for IHS Holding Limited. Javier Stark of Latham & Watkins LLP acted as legal advisor for IHS Holding Limited. Andrew Barker of Walkers (Cayman) LLP acted as legal advisor for IHS Holding Limited. Kyle A. Harris of Cleary Gottlieb Steen?& Hamilton LLP acted as legal advisor for Oranje-Nassau Développement S.C.A., FIAR?. Annuncio • Feb 06
Ninety One SA (Pty) Ltd. on behalf of its clients acquired 5.10% stake in MTN Group Limited (JSE:MTN). Ninety One SA (Pty) Ltd. on behalf of its clients acquired 5.10% stake in MTN Group Limited (JSE:MTN) on February 5, 2026. The total of all beneficial interests held by Ninety One SA (Pty) Ltd. (on behalf of their underlying clients) is now 5.0992% of the issued ordinary share.
capital of MTN Group.
Ninety One SA (Pty) Ltd. on behalf of its clients completed the acquisition of 5.10% stake in MTN Group Limited (JSE:MTN) on February 5, 2026. Annuncio • Feb 05
MTN Group Limited in Advanced Stage of Discussions to Acquire the 75% Shares in IHS Holding Limited MTN Group Limited (JSE:MTN) has noted recent speculation regarding the Company's intentions with respect to its stake in IHS Holding Limited (NYSE:IHS). MTN is at an advanced stage of discussions with IHS to acquire the 75% shares in IHS it does not already own (the Transaction), with a potential offer price that is at a level near to the last trading price of IHS on the New York Stock Exchange (as at 4 February 2025), which has increased significantly in the recent past. No final agreement has been reached and there is no certainty of the Transaction concluding. The Transaction, if concluded, may have a material effect on the price of the Company's securities. Accordingly, shareholders are advised to exercise caution when dealing in the Company's securities until a further announcement is made. Should the Transaction not materialise, MTN will continue to explore options to unlock value from its investment in IHS and remains committed to its disciplined capital allocation framework. Annuncio • Oct 29
MTN Group Limited to Report Q3, 2025 Results on Oct 28, 2025 MTN Group Limited announced that they will report Q3, 2025 results on Oct 28, 2025 Annuncio • Sep 11
MTN Boss Quashes Renewed Telkom Takeover Rumour MTN Group Limited (JSE:MTN) CEO Ralph Mupita has shut down speculation that the mobile provider is in talks to acquire smaller rival Telkom SA SOC Ltd. (JSE:TKG). Last week, Bloomberg reported that SA's second-largest mobile provider was trying to revive takeover talks after failing to make such a deal happen in 2022. During a media event on 5 September 2025, Mupita rejected the claim, saying no such talks were taking place. "There are no talks with Telkom. There are no advisers that have been engaged. We did discuss this sometime in the past [but] there are no active discussions," he said. That said, it makes sense why speculation has been rife, because industry players understand that MTN has only two options available to compete effectively in home and fixed internet provisioning: partnership and acquisition. Mupita reiterated that MTN sees the third option "building its own fibre network" as unviable in SA, despite its ambitions to be a big player in the market. "Building is completely off the table. SA has built enough fibre and it would be a poor allocation of capital for us to build fibre on our own," he said. MTN, which made an estimated ZAR 30 billion bid to buy Telkom in July 2022, withdrew its offer after rival Rain made its own approach to merge with the fixed-line operator. It has been widely accepted that MTN was mainly interested in the deal for Telkom's large fibre trove housed in Openserve. Annuncio • Sep 05
MTN Reportedly to Resume Telkom SA Acquisition Talks by End of 2025 MTN Group Limited (JSE:MTN) is considering reviving its plans to acquire South African telecoms company and rival, Telkom SA SOC Ltd. (JSE:TKG). This follows MTN’s decision to walk away from negotiations to buy the company in 2022. According to Bloomberg, the project is part of the group’s plan to broaden its footprint and bring about dominance in the African telecommunications space. Currently, MTN Group has 298 million subscribers across its 15 African markets. Acquiring Telkom SA’s 23 million subscribers will be a significant addition to its base. According to reports, Telkom has been in touch with experts and advisers on both sides to see if a new takeover bid is launched. While the two companies are expected to launch new negotiations by the end of 2025, there’s no guarantee that the deal will be successful. Annuncio • Aug 07
MTN Group Limited to Report First Half, 2025 Results on Aug 18, 2025 MTN Group Limited announced that they will report first half, 2025 results on Aug 18, 2025 Annuncio • May 30
Mtn Group Limited Approves Election of Member of the Social, Ethics and Sustainability Committee MTN Group Limited at its Annual General Meeting on May 29, 2025 approved election of NL Sowazi, KDK Mokhele, SP Miller, SAX Gwala, SLA Sanusi and N Newton-King as a member of the Social, Ethics and Sustainability Committee. Annuncio • Apr 26
MTN Group Limited, Annual General Meeting, May 29, 2025 MTN Group Limited, Annual General Meeting, May 29, 2025. Annuncio • Apr 25
MTN Group Limited to Report Fiscal Year 2024 Results on Apr 29, 2025 MTN Group Limited announced that they will report fiscal year 2024 results at 9:00 AM, South Africa Standard Time on Apr 29, 2025 Annuncio • Mar 17
MTN Group Limited Announces Dividend for the Year Ended 31 December 2024, Payable on 14 April 2025 and Provides Dividend Guidance for the Year Ending 31 December 2025 MTN Group Limited has declared a dividend per share of 345 cents (2023: 330 cents) for the year ended 31 December 2024. Last day to trade cum dividend: 08 April 2025 with First trading day ex dividend: 09 April 2025. Record date: 11 April 2025. Payment date: 14 April 2025.
For Fiscal Year 2025, the Board anticipates paying a minimum ordinary dividend per share of 370 cents after the announcement of full year results expected to be in March 2026. Annuncio • Feb 27
MTN Group Limited to Report Fiscal Year 2024 Results on Mar 17, 2025 MTN Group Limited announced that they will report fiscal year 2024 results on Mar 17, 2025 Annuncio • Dec 03
MTN Group Limited Appoints Sandile Gwala as an Independent Non-Executive Director, Effective 1 January 2025 MTN Group Limited announced that Sandile Gwala has been appointed as an independent non-executive director effective 1 January 2025. Based in South Africa, Sandile is the co-founder and Chief Executive Officer of a business consultancy firm that serves both local and international clients. He holds a Bachelor of Commerce (B.Com) in Information Systems, and a Master in Business Administration from the University of Natal in South Africa. Previously, he was a group executive director and partner at Deloitte in South Africa, and also worked in its UK and Denmark operations. Sandile holds a non-executive position, and serves on various board sub-committees, of non-profit organisation, Harambe. Furthermore, he was previously an NED at business services industry body, Business Process Enabling South Africa. Sandile will bring a wealth of experience and expertise in accounting, finance and business performance. The Chairman and the Board look forward to his valuable contribution to MTN's continued progress. Annuncio • Aug 22
MTN Group Limited Provides Dividend Guidance for the Fiscal 2024 MTN Group Limited provided dividend guidance for the fiscal 2024. The Board still anticipates a ZAR 3.3 dividend for fiscal year 2024. Reported Earnings • Aug 22
First half 2024 earnings released: R4.09 loss per share (vs R2.29 profit in 1H 2023) First half 2024 results: R4.09 loss per share (down from R2.29 profit in 1H 2023). Revenue: R91.1b (down 20% from 1H 2023). Net loss: R7.39b (down 279% from profit in 1H 2023). Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Wireless Telecom industry in Europe. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. New Risk • Aug 20
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.9x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.9x net interest cover). Minor Risk Paying a dividend despite being loss-making. Annuncio • Aug 08
MTN Group Limited to Report First Half, 2024 Results on Aug 19, 2024 MTN Group Limited announced that they will report first half, 2024 results on Aug 19, 2024 Annuncio • Aug 03
MTN Group Announces Executive Appointments MTN Group announced the appointment of Mohammed Rufai as Chief Executive Officer (CEO) of MTN Congo-Brazzaville and Ayham Moussa as Chief Operations Officer (COO) of MTN Nigeria, effective 1 September and 19 August 2024, respectively. The company also announcedthe voluntary early retirement of MTN Cte dIvoire CEO Djibril Ouattara and the departure of MTN Nigeria COO Hassan Jabber. Mohammed Rufai is an accomplished professional with over 24 years of experience in ICT and an impressive track record in the telecoms industry. He joined MTN Nigeria in 2002 and subsequently moved to MTN Ghana, where he became Chief Technical Officer in 2015. Currently, he serves as the Chief Technical Officer at MTN Nigeria. Mohammed has held various senior roles across the MTN Group, including Regional CTIO for Southeast Africa and Ghana. He also serves on the Board of Directors of Bayobab (Nigeria) and MTN Benin. A driven leader, Mohammed is passionate about execution excellence, people development, and customer experience. He holds a Bachelor of Technology degree in Computer Science and certifications in Advanced Management and General Management. Mohammed is an alumnus of Lagos Business School, Cranfield University, UK, and the University of Cambridge, UK. Mohammed assumes the reins at MTN Congo-Brazzaville from Ayham Moussa, who joins the MTN Nigeria executive leadership team at COO. Ayham replaces Hassan Jabber, who is leaving MTN. Ayham first joined MTN in 2002, returned in 2006 after a brief hiatus, and has since served the organisation in various markets, including Syria and Guinea-Conakry. He has held senior roles such as Chief Information Officer, Chief Technical and Information Officer, and CEO of MTN Congo-Brazzaville. In his technology roles, Ayham played a key role in the countrys digital evolution from 2G to 4G, establishing MTN Congo-Brazzaville as a technology leader. His teams efforts were recognised with awards for the best network in West and Central Africa and the MTN Group. As CEO, Ayham expanded MTN Congos leadership and business health, accelerating growth, margins, and operational excellence, while fostering strong relationships with various local stakeholders. Annuncio • Apr 27
MTN Group Limited, Annual General Meeting, May 24, 2024 MTN Group Limited, Annual General Meeting, May 24, 2024, at 14:30 South Africa Standard Time. Upcoming Dividend • Apr 10
Upcoming dividend of R3.30 per share Eligible shareholders must have bought the stock before 17 April 2024. Payment date: 22 April 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 3.6%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (8.6%). Declared Dividend • Mar 27
Dividend of R3.30 announced Shareholders will receive a dividend of R3.30. Ex-date: 17th April 2024 Payment date: 22nd April 2024 Dividend yield will be 76%, which is higher than the industry average of 3.6%. Sustainability & Growth Dividend is not covered by earnings (146% earnings payout ratio). However, it is well covered by cash flows (33% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 62% to bring the payout ratio under control. EPS is expected to grow by 168% over the next 2 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • Mar 26
Full year 2023 earnings released: EPS: R2.27 (vs R10.71 in FY 2022) Full year 2023 results: EPS: R2.27 (down from R10.71 in FY 2022). Revenue: R221.4b (up 6.9% from FY 2022). Net income: R4.09b (down 79% from FY 2022). Profit margin: 1.8% (down from 9.3% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Wireless Telecom industry in Europe. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. New Risk • Mar 12
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.3% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.3% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Annuncio • Mar 02
MTN Group Limited to Report Fiscal Year 2023 Results on Mar 25, 2024 MTN Group Limited announced that they will report fiscal year 2023 results on Mar 25, 2024 Annuncio • Dec 07
MTN Group Limited Announces Executive Changes MTN Group has made two key appointments to its executive team. The mobile operator has promoted MTN Ghana CEO Selorm Adadevoh to group chief commercial officer, effective 1 April 2024. He will assume the role currently held by group COO Jens Schulte-Bockum, whose contract ends on 31 March 2024. Adadevoh's new designation has been amended to better align with the group's operating model, and he will join the exco on the effective date and assume all of Schulte-Bockum's executive responsibilities in a transition process over the next few months, says MTN. Adadevoh joined MTN in 2018 as CEO of key subsidiary MTN Ghana and brings extensive experience to his new role, it says. Prior to assuming the role of MTN Ghana CEO, he held key positions within the Digicel Group, including CEO, COO and global director of the mobile financial services firm. Before that, he held various senior positions at telecoms firm Millicom/Tigo in Ghana. Schulte-Bockum will continue to serve as a non-executive director on the boards of MTN South Africa, MTN Nigeria and Bayobab. Annuncio • Aug 16
Mastercard Incorporated (NYSE:MA) signed a memorandum of understanding to acquire an unknown minority stake in Fintech Division of MTN Group Limited (JSE:MTN). Mastercard Incorporated (NYSE:MA) signed a memorandum of understanding to acquire an unknown minority stake in Fintech Division of MTN Group Limited (JSE:MTN) on August 14, 2023. Under the terms of agreement, the acquisition provides for a minority investment by Mastercard into Group Fintech based on a total enterprise valuation of about $5.2 billion for the business on a cash and debt-free basis. Signing of the definitive investment agreements is expected to occur in the very near term as we approach finalisation of customary due diligence. The closing of the investment will be subject to customary closing conditions. Reported Earnings • Aug 15
First half 2023 earnings released: EPS: R5.11 (vs R4.45 in 1H 2022) First half 2023 results: EPS: R5.11 (up from R4.45 in 1H 2022). Revenue: R113.3b (up 16% from 1H 2022). Net income: R9.24b (up 15% from 1H 2022). Profit margin: 8.2% (in line with 1H 2022). Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 1.6% growth forecast for the Wireless Telecom industry in Europe. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Annuncio • Aug 01
MTN Group Limited Provides Group Earnings Guidance for the Six Months Ended 30 June 2023 MTN Group Limited provided group earnings guidance for the six months ended 30 June 2023. The company expects an increase in earnings per share (EPS) of between 10% and 20% (or 45 cents to 89 cents). Considering the EPS of 445 cents for the corresponding six-month period ended 30 June 2022, this translates to a range of 490 cents to 534 cents for the six-month period ended 30 June 2023. EPS includes impairment losses that mainly relate to property, plant and equipment and associates of 13 cents (June 2022: 25 cents), an impairment loss on remeasurement of disposal groups of 21 cents (June 2022: 52 cents) and a net profit on the disposal of SA towers and other assets of 3 cents (June 2022: 16 cents). Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €6.60, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 12x in the Wireless Telecom industry in Europe. Total returns to shareholders of 135% over the past three years. Annuncio • Jun 06
MTN Likely to Keep IHS Towers Stake for Now MTN Group Limited CEO said Group does not plan to sell IHS Towers NG Limited in near term 'but if things happen we'll add to discussion' Technology Correspondent. MTN is unlikely to sell its quarter stake in Nigeria-based tower operator IHS for the next three to five years, group CEO Ralph Mupita has told investors. Africa's largest mobile operator by subscribers started working in 2019 to reduce debt and streamline its business. The group set out to raise ZAR 25 billion by selling noncore assets in an "asset realisation programme". Selling down this stake, plus other moves such as repatriation of funds from Nigeria, were billed as ways to wipe out the group's debt. Market conditions have seen IHS lose half its value since listing. Having debuted at $16.69 a share, it now trades at $8.35. And even with a weaker rand, MTN's piece of IHS, now 26%, is worth about ZAR 14 billion. Similar market conditions scuppered Telkom's efforts to list its tower business Swiftnet on the JSE a few months later in early 2022. Telkom had valued the unit at ZAR 13 billion but failed to get even three-quarters of that when testing the market. Against this background, Mupita and his team decided to hold on to IHS, at least in the medium term. "When we started this programme the main anchors around ARP were really further localisation in Nigeria and IHS, " the CEO told attendees at the group's capital markets day. "Now with IHS, with where the share price is, for us it's not a monetisation opportunity," he said. "When we reflect on where [exchange] rates have moved and where tower companies are trading, we are not in a rush to look to monetise. "I think it's fair to say to our capital holders that our view is, in the near to medium term, I don't think you should anticipate a sell-down of our 26% share in IHS," he said. For now, the message appears clear. "We are not looking, in the near term, to be selling that down. But if things happen in the future, we'll add to that discussion". Annuncio • May 31
MTN Group Limited Announces Election of Social, Ethics and Sustainability Committee Members MTN Group Limited announced that at the Annual General Meeting (AGM) held on 26 May 2023 elected SLA Sanusi, SP Miller, NL Sowazi, KDK Mokhele and N Newton-King as members of the Social, Ethics and Sustainability Committee. Recent Insider Transactions • Apr 21
Group Chief Human Resources Officer recently sold €262k worth of stock On the 14th of April, Paul Norman sold around 40k shares on-market at roughly €6.55 per share. This transaction amounted to 40% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €37k more than they bought in the last 12 months. Recent Insider Transactions • Apr 07
Group CFO & Executive Director recently bought €225k worth of stock On the 4th of April, Tsholofelo B. Molefe bought around 35k shares on-market at roughly €6.46 per share. This transaction increased Tsholofelo B.'s direct individual holding by 2x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Tsholofelo B.'s only on-market trade for the last 12 months. Upcoming Dividend • Mar 28
Upcoming dividend of R3.30 per share at 2.6% yield Eligible shareholders must have bought the stock before 04 April 2023. Payment date: 11 April 2023. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (7.0%). Reported Earnings • Mar 14
Full year 2022 earnings released: EPS: R10.71 (vs R7.63 in FY 2021) Full year 2022 results: EPS: R10.71 (up from R7.63 in FY 2021). Revenue: R207.4b (up 14% from FY 2021). Net income: R19.3b (up 41% from FY 2021). Profit margin: 9.3% (up from 7.6% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 1.5% growth forecast for the Wireless Telecom industry in Europe. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 12
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down R2.67b from profit in 1H 2021). Profit margin: (down from 3.1% in 1H 2021). The decrease in margin was driven by lower expenses. Over the next year, revenue is forecast to grow 8.1%, compared to a 1.9% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 13% per year. Upcoming Dividend • Mar 23
Upcoming dividend of R3.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 04 April 2022. Payout ratio is a comfortable 39% but the company is not cash flow positive. Trailing yield: 1.5%. Lower than top quartile of German dividend payers (3.6%). Lower than average of industry peers (5.3%). Reported Earnings • Mar 15
Full year 2021 earnings: Revenues in line with analyst expectations Full year 2021 results: Net income: R13.8b (down 19% from FY 2020). Revenue was in line with analyst estimates. Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment improved over the past week After last week's 18% share price gain to €11.88, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 13x in the Wireless Telecom industry in Europe. Total returns to shareholders of 148% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €13.83 per share. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment improved over the past week After last week's 19% share price gain to €11.02, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 13x in the Wireless Telecom industry in Europe. Total returns to shareholders of 123% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €9.83 per share. Valuation Update With 7 Day Price Move • Nov 06
Investor sentiment improved over the past week After last week's 21% share price gain to €9.19, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 13x in the Wireless Telecom industry in Europe. Total returns to shareholders of 98% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €16.98 per share. Reported Earnings • Aug 14
First half 2021 earnings released: EPS R1.48 (vs R6.74 in 1H 2020) The company reported a soft first half result with weaker earnings and profit margins, although revenues improved. First half 2021 results: Revenue: R86.7b (up 3.1% from 1H 2020). Net income: R2.67b (down 78% from 1H 2020). Profit margin: 3.1% (down from 14% in 1H 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 17
Investor sentiment improved over the past week After last week's 25% share price gain to R5.08, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 17x in the Wireless Telecom industry in Europe. Total loss to shareholders of 26% over the past three years. Is New 90 Day High Low • Mar 12
New 90-day high: €4.59 The company is up 41% from its price of €3.27 on 11 December 2020. The German market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Wireless Telecom industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €11.67 per share. Reported Earnings • Mar 12
Full year 2020 earnings released: EPS R9.47 (vs R5.06 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: R179.5b (up 19% from FY 2019). Net income: R17.0b (up 87% from FY 2019). Profit margin: 9.5% (up from 6.0% in FY 2019). Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Mar 11
Revenue beats expectations Revenue exceeded analyst estimates by 2.9%. Over the next year, revenue is forecast to decline by -2.8% while the Wireless Telecom industry in Germany is not expected to grow. Valuation Update With 7 Day Price Move • Feb 08
Investor sentiment improved over the past week After last week's 16% share price gain to R3.92, the stock is trading at a trailing P/E ratio of 7.6x, up from the previous P/E ratio of 6.6x. This compares to an average P/E of 16x in the Wireless Telecom industry in Europe. Total return to shareholders over the past three years is a loss of 44%. Is New 90 Day High Low • Feb 06
New 90-day high: €3.92 The company is up 18% from its price of €3.31 on 06 November 2020. The German market is up 15% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Wireless Telecom industry, which is up 22% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €13.68 per share. Valuation Update With 7 Day Price Move • Dec 14
Investor sentiment deteriorated over the past week After last week's 16% share price decline to R3.27, the stock is trading at a trailing P/E ratio of 6.6x, down from the previous P/E ratio of 7.8x. This compares to an average P/E of 19x in the Wireless Telecom industry in Europe. Total return to shareholders over the past three years is a loss of 55%. Valuation Update With 7 Day Price Move • Nov 13
Market bids up stock over the past week After last week's 17% share price gain to R3.88, the stock is trading at a trailing P/E ratio of 7.6x, up from the previous P/E ratio of 6.5x. This compares to an average P/E of 18x in the Wireless Telecom industry in Europe. Total return to shareholders over the past three years is a loss of 38%. Valuation Update With 7 Day Price Move • Nov 10
Market bids up stock over the past week After last week's 20% share price gain to R3.72, the stock is trading at a trailing P/E ratio of 7.2x, up from the previous P/E ratio of 6x. This compares to an average P/E of 16x in the Wireless Telecom industry in Europe. Total return to shareholders over the past three years is a loss of 40%. Is New 90 Day High Low • Nov 10
New 90-day high: €3.72 The company is up 24% from its price of €2.99 on 11 August 2020. The German market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Wireless Telecom industry, which is down 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €10.51 per share. Valuation Update With 7 Day Price Move • Nov 05
Market bids up stock over the past week After last week's 20% share price gain to R3.33, the stock is trading at a trailing P/E ratio of 6.7x, up from the previous P/E ratio of 5.6x. This compares to an average P/E of 17x in the Wireless Telecom industry in Europe. Total return to shareholders over the past three years is a loss of 48%. Is New 90 Day High Low • Sep 26
New 90-day low: €2.71 The company is down 2.0% from its price of €2.78 on 26 June 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Wireless Telecom industry, which is down 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €8.55 per share.