MTN Nigeria Communications Plc has returned to profitability, reporting a profit after tax of N1.11 trillion for the full year ended 2025, reversing a loss of N400.44 billion recorded in 2024.
The company’s profit before tax stood at N1.70 trillion, a significant turnaround from a N550.33 billion loss in the previous year, according to a corporate disclosure released to the Nigerian Exchange Ltd. on Thursday.
The improved performance was supported by a net foreign exchange gain of N90.27 billion, compared with a N925.36 billion loss in 2024. Total revenue rose by 54.9 per cent to N5.20 trillion from N3.36 trillion, while service revenue increased by 55.1 per cent to N5.17 trillion.
Revenue growth was driven by strong contributions across multiple segments. Data revenue surged by 74.5 per cent to N2.78 trillion, while voice revenue rose 42.1 per cent to N1.85 trillion. Fintech services also saw significant expansion, with revenue up 79.7 per cent to N191.27 billion, reflecting growth in digital financial services. Digital revenue climbed 36 per cent to N99.43 billion, while other service revenue fell by 3.6 per cent to N249.67 billion.
The company’s earnings before interest, tax, depreciation and amortisation (EBITDA) more than doubled, rising 108.9 per cent to N2.74 trillion from N1.31 trillion in 2024, with EBITDA margin improving to 52.7 per cent from 39.1 per cent. Total expenses increased by 20.2 per cent to N2.46 trillion.
In the fourth quarter of 2025, MTN Nigeria posted revenue of N1.47 trillion, up 48.9 per cent from N988.22 billion in the same period of 2024. Capital expenditure grew 4.2 per cent to N1.60 trillion, while free cash flow surged 215.5 per cent to N1.22 trillion.
On the operational side, mobile subscribers increased by 7.9 per cent to 87.3 million, while data subscribers rose 11.6 per cent to 53.2 million, up from 80.9 million and 47.7 million, respectively.
Commenting on the results, Karl Toriola, CEO of MTN Nigeria, said:
“2025 marked a significant turning point in our business performance and resumption of dividend payments. We returned to profitability, generated stronger free cash flow, and restored positive retained earnings and shareholders’ funds.”
He added that the company’s balance sheet resilience was supported by robust business performance, reduced foreign currency exposure, and disciplined capital allocation. Toriola expressed optimism for 2026, highlighting the company’s focus on operational efficiency, network leadership, and sustained growth across connectivity and platform services.
“Our commitment to operational excellence and disciplined capital allocation will remain steadfast, ensuring that we progressively strengthen our balance sheet. We remain focused on driving profitable growth, reinforcing our financial strength, and providing consistent returns to our shareholders,” he stated.
MTN Nigeria’s return to profitability signals renewed confidence in the telecom giant’s strategy, following years of currency volatility and macroeconomic challenges that affected its financial performance.
