MTN Nigeria reported a strong financial performance for the first half of 2026, with profit after tax rising 70.6% to ₦707.5 billion on the back of higher service revenue, strong data demand, and disciplined cost management. The telecom operator also announced an interim dividend of ₦26 per share as subscriber growth and cash generation remained robust.
MTN Nigeria Communications Plc posted a 70.6% increase in profit after tax to ₦707.5 billion for the six months ended June 30, 2026, supported by strong growth in data and voice services, improved operational efficiency, and effective cost management.
The telecom operator reported service revenue of ₦3 trillion, up 25.9% from the same period last year, while EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization). climbed 39.2% to ₦1.7 trillion, lifting the EBITDA margin to 55.9%.
Subscriber growth remained strong during the period, with MTN adding 4.9 million new customers to bring its total subscriber base to 92.2 million. Active data users also increased to 55.7 million, reflecting continued demand for mobile internet services.
The company generated ₦712.7 billion in free cash flow, a 73.9% increase year-on-year, highlighting stronger cash generation and disciplined capital allocation.
Chief Executive Officer Karl Toriola said the results reflected sustained commercial momentum, improved profitability, and resilient operations, adding that a stronger naira and disciplined cost management helped offset rising energy costs.
MTN's board approved an interim dividend of ₦26 per share, which is scheduled to be paid on September 7, 2026, subject to the required conditions.
Although fintech revenue was temporarily affected by the suspension of airtime and data credit services, the company's mobile money business continued to expand, with active wallets increasing 88.8% to five million.
During the reporting period, MTN invested ₦620.5 billion in network expansion and broadband infrastructure while contributing ₦622.6 billion in taxes and levies to government authorities.
Looking ahead, the company maintained its outlook for low-20% service revenue growth and EBITDA margins in the mid-to-high 50% range as it continues to expand broadband connectivity, strengthen its fintech business, and advance digital inclusion initiatives.
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