Key Highlights
MTN Group anticipates its full-year earnings to more than quadruple.
Headline earnings per share are projected to be between 10.62 rand and 11.68 rand for the 12 months ended December.
MTN Nigeria swung to a profit after tax of N1.1 trillion in 2025, a significant turnaround from a N400.4 billion loss in 2024.
MTN Ghana's profit after tax surged by 55.9% to GHS 7.8 billion.
MTN Nigeria and MTN Ghana together represent over 40% of the group's total revenue.
Africa’s largest mobile network operator, MTN Group Ltd., has announced a robust earnings forecast, projecting that its full-year earnings will more than quadruple. This significant uptick is largely attributed to a sharp recovery observed in its key Nigerian and Ghanaian operations.
The Johannesburg-headquartered telecommunications giant disclosed this optimistic outlook in a trading statement released on Monday. The company expects its headline earnings per share for the twelve months ending December to fall within the range of 10.62 rand to 11.68 rand. This projection marks a substantial turnaround from a loss recorded in the preceding year.
MTN Group attributes this expected improvement to stronger operational performances across its core markets. Notably, MTN Nigeria and MTN Ghana are strategically vital, collectively accounting for more than 40% of the group's total revenue. Their performance, therefore, has a considerable impact on the broader business.
In Nigeria, the operational landscape has seen a dramatic shift. MTN Nigeria swung to a profit after tax of N1.1 trillion in 2025, a stark contrast to the N400.4 billion loss it incurred in 2024. This recovery is a testament to improved operating conditions and enhanced cost management strategies implemented by the Nigerian unit.
Similarly, MTN Ghana has demonstrated strong growth. The company posted a 36.2% year-on-year increase in its service revenue, reaching GHS 24.4 billion. Earnings before interest, tax, depreciation, and amortization (EBITDA) rose by an impressive 43.5% to GHS 14.7 billion, with the EBITDA margin expanding by 3.0 percentage points to 60.1%.
The profitability of MTN Ghana saw a significant boost, with profit after tax surging by 55.9% to GHS 7.8 billion. Consequently, earnings per share (EPS) also increased by 55.9%, reaching GHS 0.5923. The company also highlighted its significant contribution to national development, having paid GHS 10.5 billion in direct and indirect taxes and an additional GHS 1.3 billion in fees and levies to government agencies.
The financial performance of MTN Nigeria in the previous year was significantly impacted by the sharp depreciation of the naira during the 2024 financial year, which led to substantial foreign exchange losses and eroded earnings.
