$JSEMTN - MTN: Is The Bottom Finally In? 7753 Needs To Hold
See link below for previous analysis.
MTN released its FY'23 results on the 25th of March and it was a mixed bag of results.
Salient features:
Group service revenue grew by 6.9% (13.5%*) to R210.1bn (2022: R196.5bn)
EBITDA (before once-off items) down by 0.5% (9.8%*) to R90.5bn (2022: R90.8bn)
EBITDA margin lower by 3.0 percentage points (pp) to 40.9% (1.2 pp* lower to 41.5% *)
Basic earnings per share (EPS) decreased by 78.5% to 227cps (2022: restated 1 054cps)
Reported headline earnings per share (HEPS) down by 72.3% to 315cps (2022: restated 1 137cps);
non-operational impacts decreased HEPS by 888cps
Holding company (Holdco) leverage improved to 1.4x (December 2021: 0.8x)
Adjusted return on equity (ROE) increased by 0.2pp to 24.4% (restated 2022: restated 24.2% )
Total subscribers increased by 2.0% to 294.8 million
Final dividend declared of 330cps (2022: 330cps)
These results did not deter investors much as the stock shrugged of the results and the stock trended higher in the following sessions.
Technically, the reversal signals I was looking for have materialized.
*The MACD gave a buy signal and has broken above the zero-line.
*The five wave decline from 14299 looks complete at 7753.
No matter how good the wave count looks, one can never be certain that a bottom is in but I am bullish and this outlook will only be invalidated by a break below 7753
MTN released its FY'23 results on the 25th of March and it was a mixed bag of results.
Salient features:
Group service revenue grew by 6.9% (13.5%*) to R210.1bn (2022: R196.5bn)
EBITDA (before once-off items) down by 0.5% (9.8%*) to R90.5bn (2022: R90.8bn)
EBITDA margin lower by 3.0 percentage points (pp) to 40.9% (1.2 pp* lower to 41.5% *)
Basic earnings per share (EPS) decreased by 78.5% to 227cps (2022: restated 1 054cps)
Reported headline earnings per share (HEPS) down by 72.3% to 315cps (2022: restated 1 137cps);
non-operational impacts decreased HEPS by 888cps
Holding company (Holdco) leverage improved to 1.4x (December 2021: 0.8x)
Adjusted return on equity (ROE) increased by 0.2pp to 24.4% (restated 2022: restated 24.2% )
Total subscribers increased by 2.0% to 294.8 million
Final dividend declared of 330cps (2022: 330cps)
These results did not deter investors much as the stock shrugged of the results and the stock trended higher in the following sessions.
Technically, the reversal signals I was looking for have materialized.
*The MACD gave a buy signal and has broken above the zero-line.
*The five wave decline from 14299 looks complete at 7753.
No matter how good the wave count looks, one can never be certain that a bottom is in but I am bullish and this outlook will only be invalidated by a break below 7753
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.