MTN Faces Earnings Storm: 2024 Profits Take a Major Hit
MTN expects a steep earnings decline in 2024, citing major impairment losses, asset disposals, and Sudan-related challenges impacting financial performance.

MTN shareholders were advised that MTN expects to report:
- A decrease in earnings per share (EPS) of greater than 100% (or within a range of -781 cents and – 736 cents). Considering the reported EPS for the corresponding financial year ended 31 December 2023 (FY 23) of 227 cents, this translates to a range of -554 cents to -509 cents for FY 24.
- A decrease in headline earnings per share (HEPS) of between -79% and -59% (or within a range of – 249 cents and -186 cents). Considering the reported HEPS for the corresponding financial year FY 23 of 315 cents, this translates to a range of 66 cents to 129 cents for FY 24.
The difference between FY 24 EPS and FY 24 HEPS is due to the following factors:
- Impairment losses that mainly relate to investments, goodwill, property, plant and equipment primarily related to Sudan totaling approximately -578 cents (2023: -40 cents);
- An impairment loss on remeasurement of disposal groups of approximately -8 cents (2023: -50 cents);
- A net loss on the disposal of investments in joint ventures and/or associate and/or subsidiary of approximately -36 cents (2023: nil); and
- The net loss on disposal of property, plant and equipment and intangible assets of approximately – 7 cents (2023: -1 cent loss).
The Group’s financial results are expected to be announced on the Stock Exchange News Service of the JSE on or about Monday, 17 March 2025.