MTN flags robust first half performance ahead

Telecoms operator MTN said it expects to report a robust performance for first half 2025, driven by strong commercial execution, disciplined capital allocation and improved macro conditions. Inflation and foreign exchange rates in key markets showed improved stability, which supported the positive momentum in our operational and financial results.

It said this on Thursday in a trading statement for the half year ended June 30, 2025.

Its larger operations, MTN Nigeria and MTN Ghana published strong first half 2025 results on July 30, 2025 and July 31, 2025, respectively, demonstrating pleasing growth in service revenue and profitability.

It said as previously indicated, MTN South Africa has faced challenges in the market, particularly within the prepaid segment. However, MTN said it was encouraged by the overall first half 2025 trajectory of key operations within its broader Markets portfolio, which have also supported the first half 2025 performance.

MTN shareholders are advised that MTN expects to report: an increase in earnings per share (Eps) of more than 200%, within a range of 904 cents and 986 cents higher. Considering the reported Eps loss for the corresponding period ended June 30, 2024 of -409 cents, this translates to an Eps range of 495 cents to 577 cents for first half 2025.

It expects an increase in headline earnings per share (Heps) of more than 300% or within a range of 870 cents and 922 cents higher. Considering the reported Heps loss for the corresponding period of first half 2024 of -256 cents, this translates to a Heps range of 614 cents to 666 cents for H1 25.

The growth in Eps and Heps was driven mainly by the strong performances from MTN Nigeria and MTN Ghana. The difference between first half 2025 Eps and Heps is largely attributable to impairment losses that relate to investments, goodwill, property, plant and equipment totalling approximately - 104 cents from: -203 cents the prior corresponding period.

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