MTN Nigeria records massive ₦750bn profit, resumes dividend payments

MTN Nigeria Communications Plc has staged a dramatic financial recovery, announcing a ₦750.2 billion profit after tax for the nine months ended September 30, 2025.

This spectacular turnaround follows a substantial ₦514.9 billion loss recorded during the same period last year. Signifying its return to solid financial footing, the telecommunications giant simultaneously announced a ₦5.00 interim dividend per share for its shareholders.

The company attributed this robust performance to significant growth across its core business segments, a stronger domestic currency, and disciplined financial execution.

MTN’s operational efficiency surged, with service revenue jumping by 57.5 per cent to ₦3.7 trillion. This growth translated into a major improvement in profitability, as EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortisation) rose sharply by 123 per cent to ₦1.9 trillion.

The corresponding EBITDA margin expanded significantly by 15.1 percentage points, reaching 51.4 per cent.

The company’s improved financial health was further demonstrated by the restoration of its balance sheet, with retained earnings turning positive at ₦142.7 billion and shareholders’ equity recovering to ₦293.1 billion.

Despite a steep increase in capital expenditure to ₦757.4 billion, the company generated a robust ₦742.6 billion in free cash flow.

Growth was led by the company’s burgeoning digital services portfolio. Data revenue was the standout performer, soaring by 73.2 per cent to ₦1.98 trillion, a gain supported by a rise in active data users to 51.1 million.

Similarly, fintech revenue surged by 72.5 per cent to ₦131.6 billion, driven by successful growth in mobile wallets and digital payment platforms. Traditional voice revenue also saw a strong increase of 41.9 per cent to ₦1.35 trillion.

The company’s total subscriber base climbed 11 per cent to 85.4 million, while the home broadband user base expanded to 4 million, underscoring sustained high demand for connectivity.

MTN Chief Executive Officer, Karl Toriola, affirmed that the results demonstrate the company’s operational strength and prudent execution, adding that MTN expects to close 2025 on a stronger note, supported by a more stable economic environment.