The MTN Group has issued a trading statement for the half year ended 30 June 2025, as it expects to report robust performance driven by strong commercial execution, disciplined capital allocation and improved macro conditions.
Inflation and foreign exchange (forex) rates in key markets showed improved stability, which supported the positive momentum in the group’s operational and financial results.
MTN Nigeria and MTN Ghana published strong H1 25 results on 30 July 2025 and 31 July 2025, respectively, with growth in service revenue and profitability.
As previously indicated, MTN South Africa faced challenges, particularly within the prepaid segment. However, MTN is encouraged by the overall H1 25 trajectory of key operations within its broader Markets portfolio, which have also supported the H1 25 performance.
JSE Listings Requirements requires companies to publish a trading statement if they are reasonably certain that results for the upcoming reporting period will differ by at least 20% from the previous corresponding period.
Accordingly, shareholders are advised that MTN expects to report:
- An increase in earnings per share (EPS) of more than 200% (or within a range of 904 cents and 986 cents higher). Considering the reported EPS loss for the corresponding period ended 30 June 2024 (H1 24) of -409 cents, this translates to an EPS range of 495 cents to 577 cents for H1 25.
- 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 H1 24 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 H1 25 EPS and H1 25 HEPS is largely attributable to impairment losses that relate to investments, goodwill, property, plant and equipment totalling approximately -104 cents (H1 24: -203 cents).