MTN Group Limited provided earnings guidance for the year ended 31 December 2021. A decrease in earnings per share (EPS) of between 15% and 25% (or 142 cents to 237 cents). Considering the EPS of 946 cents for the corresponding financial year ended 31 December 2020, this translates into a range of 710 cents to 804 cents for the financial year ended 31 December 2021.

EPS includes impairment losses totaling approximately 64 cents (2020: 61 cents) that relate mainly to MTN Yemen, largely non-cash losses from the deconsolidation of subsidiary MTN Syria of approximately 262 cents (2020: 0 cents), fair value gains on acquisition or disposal totaling 99 cents (2020: 341 cents gain from disposal of ATC Uganda and ATC Ghana tower joint ventures). An increase in headline earnings per share (HEPS) of between 25% and 35% (or 187 cents to 262 cents). Considering the HEPS of 749 cents for the corresponding financial year ended 31 December 2020, this translates into a range of 936 cents to 1 011 cents for financial year ended 31 December 2021.

Included in HEPS, are the negative impacts of a number of non-operational and once-off items with a net total of approximately 123 cents (2020: 128 cents) for the year ended 31 December 2021. These include items largely relating to hyperinflation excluding impairments (-42 cents); foreign exchange losses (111 cents); other non-operational items (30 cents) and notable donations related to COVID-19 support for the Africa Centre for Disease Control and Prevention (CDC) and the Coalition Against COVID (CACOVID) task force in Nigeria (24 cents).