MTN Group to report over 300% increase in 2025 earnings

MTN Group has announced that full-year earnings for the period 31 December 2025 are expected to increase fourfold (over 300%) following strong performance by MTN Nigeria and Ghana.

Compared to the loss recorded in 2024, MTN Group noted on Monday that headline earnings per share (HEPS) in 2025 are expected to range from $0.66 (R 10.62) to $0.78 (R 11.68).

Also, earnings per share (EPS) are set to surge above 300%, from a range of $0.98 (R 15.93) to $1.05 (R 16.99), from a negative $0.033 (R 0.531) in 2024.

The leading African telco noted that the expected turnaround in performance was driven by improving operational progress and a supportive macroeconomic environment in key markets such as Nigeria and Ghana. 

“In our larger operations, MTN Nigeria and MTN Ghana delivered robust results in their full-year earnings released, highlighting improved profitability on better revenue growth,” the company said.

For its South African market, the group explained that the market continues to navigate increased competition in its prepaid business. In the market, the operator competes with key players such as Telkom, Vodacom, Rain and Cell C.

However, the improved operational and financial momentum from other MTN subsidiaries in Africa is a defining moment for the group’s overall 2025 financial year performance.

In addition, the operator stressed that the difference between 2025’s EPS and HEPS was attributed to impairment losses that relate to investments, goodwill, property, plant and equipment. 

The group’s financial results, which will include adjusted 2024 EPS figures to reflect MTN Ghana’s 2024 adjustments, are expected to be released on March 16.

Also Read: MTN Nigeria records N1.1 trillion profit after tax in 2025, a robust recovery from 2024.

MTN Nigeria and Ghana power up

In the group’s larger operations, MTN Nigeria and Ghana delivered robust results for their 2025 financial years, showing improved earnings and turnaround from 2024 losses. 

Both markets contributed more than 40% of group revenue, which explains why the group is expected to report a strong performance.

MTN Nigeria saw a robust turnaround in earnings after reporting a profit after tax of N1.1 trillion in 2025, a 377.9% surge from the N400.4 billion loss it posted in 2024. The result was attributed to tariff increase, appreciation of the naira to the dollar and supportive macroeconomic policy that helped adjust headline inflation.

The Ghanaian subsidiary’s net income climbed more than 50% last year. Profit after tax surged by 55.9% to $731 million (GHS 7.8 billion), while earnings per share (EPS) increased by 55.9%. The operator said that the performance was driven by network investment and targeted commercial initiatives. 

It also posted a 36.2% year-on-year increase in service revenue to $2.2 billion (GHS 24.4 billion) while earnings before interest, tax, depreciation, and amortisation (EBITDA) rose by 43.5%.

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