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MTN Nigeria Communications (MTNN) investor relations material

MTN Nigeria Communications Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary31 Oct, 2025

Executive summary

  • Positive retained earnings and shareholders' equity restored, reflecting improved financial health.

  • Achieved a strong turnaround with profit after tax of N750.2 billion for the nine months ended 30 September 2025, compared to a loss of N513.9 billion in the prior year period, driven by robust revenue growth and improved cost efficiency.

  • Revenue increased by 57.4% year-over-year to N3.73 trillion, reflecting significant growth across all business segments.

  • Interim dividend of N5 per share declared, underscoring commitment to shareholder value.

  • Strong topline growth, margin improvement, and robust cash flow generation achieved.

Financial highlights

  • Service revenue grew by 57.5% year-over-year; EBITDA up 123.0% to N1.9tn.

  • Revenue: N3.73 trillion, up 57.4% year-over-year.

  • Operating profit rose 203.3% to N1.44 trillion; PBT rose 257.8% to N1.1tn.

  • EPS turned positive to 35.77k from -24.51k; PAT improved from -N514.9bn to N1,510.1bn.

  • Free cash flow increased 38.5% to N742.6bn; capex (ex-leases) up 248.0% to N757.4bn.

Outlook and guidance

  • FY 2025 guidance targets at least low-50% service revenue growth and EBITDA margin, both on track.

  • Capex intensity expected to moderate in Q4 to support stronger free cash flow.

  • Medium-term (FY26-28) guidance: service revenue growth at least low-20%, EBITDA margin 53-55%.

  • Directors have a reasonable expectation of continued operational existence and ability to discharge liabilities, supported by improved profitability, liquidity, and compliance with loan covenants.

  • Assumptions include easing inflation below 20% and stable exchange rates (N1,500-1,800/US$).

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Frequently asked questions

MTN Nigeria Communications PLC is a Nigeria-based telecommunications company that provides a wide range of voice, data, digital, fintech, and enterprise services. It operates mobile and fixed networks, offering solutions for individuals, businesses, and government organizations across Nigeria. The company’s services include mobile voice and internet, mobile financial services, enterprise connectivity, and digital content distribution. MTN Nigeria is a subsidiary of MTN Group Limited, a multinational telecommunications group. The company is headquartered in Lagos, Nigeria, and its shares are listed on the NGX.

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