MTN Nigeria Communications Plc has released its audited financial results for the year ended December 31, 2025, reporting a return to profit.
In a filing on the Nigerian Exchange Limited (NGX), the company reported a pre-tax profit of N1.70 trillion in 2025, compared to a pre-tax loss of N550.3 billion in 2024.
For the fourth quarter, pre-tax profit rose to N569.6 billion from N163.3 billion in the corresponding period of 2024.
The board proposed a final dividend of N15 per share, bringing the total dividend for the 2025 financial year to N20 per share. The dividend will be paid electronically to shareholders whose names appear on the Register of Members as of April 8 and who have completed the e-dividend registration.
Total revenue increased by 54.9 percent year-on-year to N5.20 trillion, while service revenue rose by 55.1 percent to N5.17 trillion.
Profit after tax stood at N1.11 trillion, compared to a loss of N400.4 billion in 2024.
Earnings per share were N53.07, against a negative N19.05 recorded in the previous year.
EBITDA rose by 108.9 percent to N2.74 trillion. Mobile subscribers increased by 7.9 percent to 87.3 million. Total assets rose by 28.7 percent to N5.40 trillion, while shareholders’ funds increased by 219.8 percent to N548.712 billion.
The Chief Executive Officer Karl Toriola said 2025 marked a turning point for the company.
“We closed the year with positive retained earnings of N400.4 billion (December 2024: negative N607.5 billion) and shareholders’ equity of N548.7 billion (December 2024: negative N458.0 billion),” he said.
Mr. Toriola noted that macroeconomic conditions improved during the year, with a more stable foreign exchange market and moderated inflation, reducing pressure on margins.
He said the company maintained its medium-term service revenue growth target of at least the low 20 percent range and revised its EBITDA margin guidance from 53-55 percent to the mid to high 50 percent range.
Data and fintech segments drove growth in service revenue. Data revenue rose by 74.5 percent to N2.78 trillion, supported by a 34.0 percent increase in data traffic and an 11.6 percent rise in active data users to 53.2 million. Smartphone penetration increased to 66.1 percent.
Voice revenue increased by 42.1 percent to N1.85 trillion. Fintech revenue rose by 79.7 percent to N191.3 billion, with active wallets growing to 3.7 million.
Cost of sales increased by 30.3 percent, while operating expenses rose by 16.7 percent. The company reported a net foreign exchange gain of N90.3 billion, compared to a loss of N925.4 billion in 2024.
Capital expenditure excluding leases rose by 126.2 percent to N1.00 trillion. Free cash flow increased by 215.5 percent to N1.2 trillion.
At the close of trading on Thursday, MTN Nigeria’s share price stood at N760, giving it a market capitalisation of about N16 trillion on the NGX.
