MTN Nigeria Rebounds Strong in Q1 2025 with N133.7bn Profit

MTN shareholders (Shareholders) are advised that MTN Nigeria has released its financial results for the quarter-end to 31 March 2025, on the Nigerian Stock Exchange on 29 April 2025. As MTN Nigeria is a major subsidiary of MTN.

Salient points:

• • Total subscribers increased by 8.2% to 84.1 million
  Added 3.2 million subscribers in Q1 2025
• Active data users rose by 13.0% to 50.3 million
  Added 2.6 million active users in Q1 2025
  • Service revenue grew by 40.5% to N1.0 trillion
  • EBITDA increased by 65.9% to N492.7 billion
  • EBITDA margin expanded by 7.2 percentage points (pp) to 46.6%
  • Profit after tax of N133.7 billion (Q1 2024: negative N392.7 billion)
  • Earnings per share of N6.38 kobo
  • Capital expenditure (Capex), excluding leases, increased by 159.0% to N202.4 billion
  • Positive free cash flow (FCF) of N209.9 billion

We are pleased with our performance in the first quarter of 2025, which reflects the continued execution of our strategic priorities and the resilience of demand for our services. Building on the momentum from Q4 2024, our Q1 results place us firmly on the path to restoring profitability and achieving a positive net asset position within the current financial year, while increasing our investments to improve network and service quality.

– Karl Toriola, CEO, MTN Nigeria