MTN Group Posts 47.4B Rand Profit in 2025, Nigeria Leads

MTN Group, Africa's largest mobile operator, reported a strong financial recovery for 2025, swinging to a profit of 47.4 billion rand (about $2.81 billion) after a restated loss the previous year, with Nigeria emerging as its top profit driver for the first time.

The Johannesburg-based company announced the results on Monday, highlighting robust growth in service revenue that rose 22.7 percent in constant currency to 218.5 billion rand. Earnings before interest, tax, depreciation and amortization climbed 36.8 percent to 98.5 billion rand, expanding the margin to 44.5 percent. Basic earnings per share turned positive at 11.13 rand, up from a loss of 5.19 rand in 2024, while adjusted headline earnings per share increased 67 percent to 13.59 rand. The board declared a final dividend of 5 rand per share, a 45 percent rise from the prior year, signaling renewed confidence in cash generation.

Nigeria led the turnaround, with service revenue surging 54.9 percent and EBITDA more than doubling to 1.926 billion rand, marking a 103.4 percent year-on-year increase. The subsidiary reported profit after tax of 13.1 billion rand, reversing a 6.8 billion rand loss from 2024, and resumed...