MTN Nigeria Communications Plc has published its audited full-year financial results for the period ended December 31, 2025, reporting a decisive turnaround from the prior year’s loss and a significant rebound in earnings that positions it back among Nigeria’s most profitable corporates.
After recording a loss after tax of approximately ₦400.4 billion in 2024, the company swung to a profit before tax of ₦1.70 trillion in 2025 and a profit after tax of ₦1.11 trillion, reversing the prior year’s deficits and restoring profitability on a sustainable basis.
Total revenue for the year surged to about ₦5.20 trillion, an increase of roughly 55 per cent compared with the prior year, driven by broad-based growth across service segments, particularly data and digital financial services.
Data revenue posted a sharp increase of around 74.5 per cent, while voice and fintech revenues also expanded markedly, reflecting both subscriber growth and increased usage of mobile broadband and digital platforms.
Service revenue overall rose more than 55 per cent, contributing materially to the top-line recovery.
Earnings before interest, tax, depreciation and amortisation (EBITDA) more than doubled to roughly ₦2.7 trillion in 2025, with the EBITDA margin widening significantly as cost pressures were contained and operational efficiencies improved.
The company also benefited from a net foreign exchange gain of about ₦90.3 billion in 2025, compared with a large FX loss the previous year, enhancing bottom-line results.
Free cash flow more than doubled, and the balance sheet strengthened, with positive retained earnings and shareholders’ equity restored.
Operating metrics strengthened alongside financial performance, with the total subscriber base expanding to over 87 million and active data users surpassing 53 million, reflecting sustained demand for data services.
Capital expenditure for the year climbed to approximately ₦1 trillion, directed at network capacity expansion, infrastructure upgrades and digital service enhancement.
In view of the turnaround and robust cash generation, the board proposed a final dividend of ₦15 per ordinary share for the 2025 financial year, subject to shareholder approval at the forthcoming Annual General Meeting.
Combined with an earlier interim dividend of ₦5 per share, this brings the total dividend for the year to ₦20 per share, marking the resumption of dividend payments following the prior year’s loss.
The company set the qualification date for the final dividend at April 8 2026, with payment expected shortly thereafter to shareholders on the register as at that date.
Source: Nairametrics
