MTN expects strong H1 2025 results after 2024 losses

MTN expects strong H1 2025 results after 2024 losses
MTN sees turnaround with rising profits across key markets

​MTN, South Africa’s leading mobile operator, expects strong results in H1 2025 following significant losses in the 2024 financial year.

On August 18, 2025, MTN Group — the largest mobile operator in South Africa — will publish its interim financial results. However, ten days ahead of the announcement, the company released key data to shareholders, signaling a substantial improvement in performance this year.

In 2024, MTN faced extreme pressure, mainly due to the devaluation of the naira in its largest market, Nigeria. Now, the group expects strong performance in the first half of 2025, driven by successful commercial execution, disciplined capital allocation, and an improving macroeconomic environment.

While MTN South Africa faced challenges in the local market this year, particularly in the prepaid segment, MTN Nigeria and MTN Ghana reported solid growth in both service revenue and profitability.

A turn for the better

In its trading update, the group noted that inflation and exchange rates in its key markets have shown greater stability, which contributed to improved operational and financial outcomes.

MTN Stock Daily Chart 2025. Source: Trading View

According to BusinessTech, MTN Group expects to report earnings per share (EPS) of between R495 and R577 — a sharp recovery from the R409 loss per share in the first half of the previous year.

Headline earnings per share (HEPS) are projected to be between R614 and R666, compared to a R256 loss per share a year ago.

The difference between EPS and HEPS for H1 2025 is primarily due to impairment losses of approximately R1.04 per share, related to investments, goodwill, property, and equipment.

As we wrote, MTN invests $17 million to upgrade Gauteng telecom network

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