MTN Nigeria Plc has launched its condensed consolidated and separate {financial} statements for Q2 2025, ended June 2025, reporting a pre-tax revenue of N419.61 billion, a serious turnaround from the pre-tax lack of N179.60 billion recorded in the identical interval final 12 months.
This efficiency builds on the N202.63 billion pre-tax revenue posted in Q1 2025, bringing H1 2025 pre-tax revenue to N622.24 billion.
It additionally marks the third consecutive quarterly revenue for the telecom big after scuffling with losses in 2023 and 2024 because of vital international change losses and excessive curiosity bills, largely pushed by naira devaluation.
Commenting on the outcomes, CEO Karl Toriola acknowledged:
“We’re excited by the progress made within the first half of 2025, reflecting the profitable execution of the strategic priorities we beforehand communicated to the market.
Constructing on the momentum from the primary quarter, we delivered robust progress in service income for the interval below assessment. This was pushed by strong demand for our companies, proactive buyer worth administration, and value changes, primarily in Q2.”
An additional assessment of the {financial} statements reveals that the spectacular backside line was additionally pushed by a mixture of different components:
Income in Q2 surged to N1.3 trillion, representing 69% year-on-year progress, pushing the half-year income to N2.4 trillion, up 54.5% YoY and already 71% of 2024 full-year income.
A better take a look at the income elements reveals that knowledge income contributed greater than half of the entire income in each Q2 and H1.
The development in each voice and knowledge income may be traced again to cost will increase carried out in the course of the interval.
Affirming this, Karl Toriola famous:
“Throughout the interval, we accomplished the phased implementation of the brand new value changes throughout voice and knowledge bundles, largely benefiting Q2. Pleasingly, the demand for our companies remained resilient, which supported robust service income progress within the interval.”
This robust top-line progress helped muffle the impression of rising bills, as EBITDA surged by 183% YoY to N709.5 billion in Q2, pushing H1 EBITDA to N1.2 trillion. The corporate maintained a sturdy EBITDA margin of 51%.
One other key driver of MTN’s turnaround was the numerous discount in web international change losses.
Consequently, the corporate recorded a robust web revenue margin of 21% in Q2 and 17.45% for the half-year. Earnings per share (EPS) additionally improved considerably, rising to N13.41 in Q2 and N19.78 in H1.
Stability sheet:
MTN Nigeria recorded additional enhancements. Complete property expanded by 13.69% (N574.68 billion) to achieve N4.772 trillion as of June 2025.
Retained losses additionally improved markedly, standing at N192.89 billion in comparison with N607.47 billion as of December 2024.
This helped to shrink the adverse shareholders’ funds to -N42.45 billion, from -N458 billion on the finish of 2024.
Different Salient Factors:
MTN Nigeria’s share value has been on a bullish run in 2025. As of the shut of buying and selling on July 30, 2025, the inventory was priced at N471.10, representing a 136% year-to-date return.
The robust rally has catapulted MTN Nigeria to the #1 spot as essentially the most invaluable listed firm on the Nigerian Alternate (NGX), overtaking Airtel Africa in market capitalization.
