MTN Group Limited Results presentation for the year ended 31 - PDF document

Notes to the annual financial statements O T Y P O W C O L L O F MTN Group Limited Results presentation for the year ended 31 December 2017 MTN Group Limited Financial results for the year ended 31 December 2017 1

to brighter lives Contents 1 Results presentation 43 Appendices 53 Data sheets * Constant currency information after taking into account the impact of the pro forma adjustments as defined ** Reported # Based on our new modernised definitions ∆ Organic revenue adjusts for prior year acquisitions, disposals and alignment of post-paid carry over rules Service revenue excludes device and sim card revenue Adjusted free cash flow = EBITDA less capex Note: Certain financial information presented in these consolidated annual financial results constitutes pro forma financial information. The pro forma financial information is the responsibility of the group’s board of directors and is presented for illustrative purposes only. Because of its nature, the pro forma financial information may not fairly present MTN’s financial position, changes in equity, and results of operations or cash flows. The forward looking financial information incorporated in these consolidated financial results; has not been audited or reviewed or otherwise reported on by our external joint auditors. An assurance report has however been prepared and issued by our joint auditors PricewaterhouseCoopers Inc. and SizweNtsalubaGobodo Inc. in respect of the pro forma financial information included in this announcement that is available for inspection at the registered office of the company. 1. The financial information presented in these consolidated financial results has been prepared excluding the impact of hyperinflation and the relating goodwill and asset impairments, tower profits (including the profit realised on the exercise of the IHS exchange right whereby the group’s interest in the Nigeria tower company was exchanged for additional shareholding in IHS Holding Limited), the loss on derecognition of the long-term loan receivable from IHS, the Nigerian regulatory fine (consisting of the re-measurement impact when the settlement was entered into and the finance costs recognised as a result of the unwind of the initial discounting of the liability) and IFRS 2 share-based payment expense related to Zakhele Futhi (“the pro forma adjustments”) and constitutes pro forma financial information to the extent that it is not extracted from the segment disclosure included in the audited consolidated financial statements for the year ended 31 December 2017. This pro forma financial information has been presented to eliminate the impact of the pro forma adjustments from the consolidated financial results in order to achieve a comparable analysis year on year. The pro forma adjustments have been calculated in terms of the group accounting policies disclosed in the consolidated financial statements for the year ended 31 December 2017. 2. Constant currency information has been presented to illustrate the impact of changes in currency rates on the group’s results. In determining the change in constant currency terms, the current financial reporting period’s results have been adjusted to the prior period average exchange rates determined as the average of the monthly exchange rates. The measurement has been performed for each of the group’s currencies, materially being that of the US dollar and Nigerian naira. The constant currency growth percentage has been calculated based on the current year constant currency results compared to the prior year results. In addition, in respect of MTN Irancell, MTN Sudan, MTN South Sudan and MTN Syria, the constant currency information has been prepared excluding the impact of hyperinflation. Hyperinflation accounting was discontinued for MTN Irancell and MTN Sudan on 1 July 2015 and 1 July 2016 respectively. The economy of South Sudan was assessed to be hyperinflationary effective 1 January 2016, and hyperinflation accounting was applied from December 2016 onwards. The group’s results are presented in line with the group’s operational structure. This is South Africa, Nigeria, Southern and East Africa and Ghana (SEAGHA), West and Central Africa (WECA) and Middle East and North Africa (MENA) and their respective underlying operations. The SEAGHA region includes Ghana, Uganda, Zambia, Rwanda, South Sudan, Botswana (joint venture-equity accounted), Swaziland (joint venture-equity accounted) and Business Group. The WECA region includes Cameroon, Ivory Coast, Benin, Congo Brazzaville, Liberia, Guinea Conakry and Guinea Bissau. The MENA region includes Iran (joint venture-equity accounted), Syria, Sudan, Yemen, Afghanistan and Cyprus. Although Iran, Botswana and Swaziland form part of their respective regions geographically and operationally, they are excluded from their respective regional results because they are equity accounted for by the group.

Results presentation Results presentation for the year ended 31 December 2017

Notes 02 MTN Group Limited Financial results for the year ended 31 December 2017

Notes MTN Group Limited Financial results for the year ended 31 December 2017 03

• • • • • • Notes 12 MTN Group Limited Financial results for the year ended 31 December 2017

• • • • • • Notes MTN Group Limited Financial results for the year ended 31 December 2017 13

� � �� Notes 18 MTN Group Limited Financial results for the year ended 31 December 2017

• • • • • • • • • Notes 22 MTN Group Limited Financial results for the year ended 31 December 2017

∆ ∆ Notes MTN Group Limited Financial results for the year ended 31 December 2017 23

∆ ∆ Notes 30 MTN Group Limited Financial results for the year ended 31 December 2017

• • Notes 36 MTN Group Limited Financial results for the year ended 31 December 2017

✓ ✓ ✓ ✓ ✓ Notes MTN Group Limited Financial results for the year ended 31 December 2017 37

• • • • • • • • • • • • Notes 40 MTN Group Limited Financial results for the year ended 31 December 2017

∆ ∆ Notes MTN Group Limited Financial results for the year ended 31 December 2017 41

Appendices

MTN Group Limited Results presentation for the year ended 31 - PDF document

Notes to the annual financial statements O T Y P O W C O L L O F MTN Group Limited Results presentation for the year ended 31 December 2017 MTN Group Limited Financial results for the year ended 31 December 2017 1 to brighter lives

2020 Half Year Results Six months to 31 March 2020 Emilio Gonzalez CFA, Group Chief Executive

Macquarie Group Macquarie Group Limited Limited Deutsche Bank Access China 2008 Conference

Report for Neptune Energy Group Midco Limited About Neptune Energy Group Neptune is an

Assura Group Limited Preliminary Results Assura Group reports strong increase in revenues and

Entertainment Entertainment Presentation Group Limited Group Limited 9 February 2018

Recommended Merger of QANTM Intellectual Property Limited and Xenith IP Group Limited 27

Assura Group Limited Interim report for the six months ended 30 September 2010 Assura Group

Important Notice and Disclaimer SG Fleet Group LIMITED IMPORTANT INFORMATION The information in

SKYCITY SKYCITY 1H19 Result Investor Presentation Entertainment Entertainment Group Limited

SKYCITY SKYCITY Investor Entertainment Entertainment Presentation Group Limited Group

Andbank (BAHAMAS) Limited 100% subsidiary of Andbank Group 2 Andbank (Bahamas) Limited

Webfirm Group Limited Annual General Meeting 27 th November 2012 Company Overview Webfirm Group

The Hydroponics Company Limited to be renamed THC Global Group Limited subject to shareholder

Full year results presentation Stobart Group Limited 4 June 2020 1 Stobart Group This

Photon Group Limited 2007 Interim Results Photon Group Limited 2007 Half Year Results 1. Overview

For personal use only For immediate release to the market Eureka Group Holdings Limited ASX

EUREKA GROUP (ASX EGH) Presented by Robin Levison (Chairman) Eureka Group Holdings Limited MAM

Report for Neptune Energy Group Midco Limited About Neptune Energy Group Neptune is an

Macquarie Group Limited Macquarie Bank Limited Covered Bond Programme June 2020 This

ACQUISITION OF CATHEDRAL GROUP (HOLDINGS) LIMITED 14 May 2014 Acquisition overview

Suncorp Group Limited Financial results for the full year ended 30 June 2015 1 Suncorp Group

Max India Limited Max India Limited I Investor Presentation t P t ti June, 2014

Smart thinking on cannabis Investor Presentation June 2020 THC GLOBAL GROUP LIMITED (ASX:THC)

MTN Group Limited Results presentation for the six months ended 30 June 2014 #MTNInterimResults