Scancom (MTNGH) H2 2024 earnings summary

Executive summary

• Achieved strong commercial momentum in core connectivity and mobile money businesses, with optimism for Ghana's macroeconomic outlook in 2025.

• Maintained healthy balance sheet and executed well on strategic priorities.

Financial highlights

• Service revenue grew 34.5% year-over-year to GHS17.9bn; EBITDA up 31.1% to GHS10.2bn.

• PAT increased 26.3% to GHS5.0bn; EBITDA margin at 57.1%, down 1.3pp year-over-year.

• Ex-lease capex was GHS3.1bn, with capex intensity at 17.4%.

• Proposed final dividend of 24 pesewas, with 80.3% payout ratio.

Outlook and guidance

• Medium-term guidance maintained: high-twenties service revenue growth, stable EBITDA margins, improving capex intensity.

• Optimism for Ghana's macroeconomic environment in 2025.