MTN Nigeria Communications Plc has reported a profit after tax of N1.11 trillion for the full year ended 2025, representing a recovery from a loss of N400.44 billion recorded in 2024.
The company posted a profit before tax of N1.70 trillion, compared to a loss of N550.33 billion in the previous year.
This was made known in a corporate disclosure released to the Nigerian Exchange Limited on Thursday.
The strong performance was supported by a net foreign exchange gain of N90.27 billion, in contrast to a loss of N925.36 billion recorded in 2024.
Total revenue rose by 54.9 per cent to N5.20 trillion from N3.36 trillion in the prior year, while service revenue grew by 55.1 per cent to N5.17 trillion from N3.3 trillion.
Data revenue increased by 74.5 per cent to N2.78 trillion, while voice revenue rose by 42.1 per cent to N1.85 trillion.
Fintech revenue also grew significantly by 79.7 per cent to N191.27 billion, highlighting expansion in digital financial services.
Digital revenue climbed by 36 per cent to N99.43 billion, while other service revenue declined by 3.6 per cent to N249.67 billion.
Earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 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, the company recorded a revenue of N1.47 trillion, representing a 48.9 per cent increase compared to N988.22 billion in the corresponding period of 2024.
Capital expenditure rose by 4.2 per cent to N1.60 trillion, while free cash flow grew by 215.5 per cent to N1.22 trillion.
On the operational front, mobile subscribers increased by 7.9 per cent to 87.3 million from 80.9 million, while data subscribers rose by 11.6 per cent to 53.2 million from 47.7 million.
Karl Toriola, Chief Executive Officer of MTN Nigeria Communications said, “2025 marked a significant turning point in our business performance and resumption of dividend payments.
“In the period, we returned to profitability, generated stronger free cash flow and restored positive retained earnings and shareholders’ funds.
“Our balance sheet resilience was driven by the robust performance of the business as well as a focused reduction in foreign currency exposure and financial discipline.
“These results were delivered through excellent commercial execution, commitment to operational efficiency and disciplined capital allocation, underpinned by a supportive macroeconomic environment.”
According to him, looking ahead, the company is encouraged by the trajectory of its business as it seeks to consolidate the significant gains achieved in 2025.
He added that the favourable macroeconomic environment, its disciplined execution and continued network leadership positioned the company for sustained growth across its connectivity and platform businesses.
“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 said.
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