Mtn Nigeria Communications Plc · NSENG:MTNN
Mtn Nigeria Communications — FY2025 Earnings Presentation
22 slides from Mtn Nigeria Communications's earnings presentation, Dec 31, 2025
Slide 1: MTN Nigeria Results presentation
MTN Nigeria Results presentation 31 December 2025
Slide 2: Disclaimer
Disclaimer The information contained in this document (presentation) has not been verified independently. No representation or warranty exp ress or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained
Slide 3: Agenda
Agenda 1 Business Overview 2 Financial Re view 3 Looking Ahead 3 Q&A
Slide 4: Business overview
Business overview Karl Toriola CEO
Slide 5: Key messages
Business overview Financial review Looking Ahead Q&A Key messages 1 Strong topline growth and margin expansion in supportive macro conditions 2 Positive retained earnings and shareholders’ equity with total dividend per share of N20 1 3 Results underpinned by strong commercial momentum and effective
Slide 6: Operating context
Business overview Financial review Looking Ahead Q&A Operating context 41% Inflation trend 1 37% 34.8% Improved macro environment 33% 27.6% 29% 29.9% ▪ Inflation eased to 15.2% (rebased), 25% supported by effective monetary policy 21% 17% 15.2% ▪ Stronger naira supported by healthy FX 13% reserves a
Slide 7: Key financial highlights
Business overview Financial review Looking Ahead Q&A Key financial highlights Sustained profitability and strengthened financial position Growth Earnings Capex & Cash Flow Service EBITDA + 108.9 % Capex + 126.2 % revenue 1 + 55.1 % (ex - leases) N2.7t N1.0t Data EBITDA +13.6pp Capex +6.1pp revenue +
Slide 8: Connectivity | Solid commercial momentum
Business overview Financial review Looking Ahead Q&A Connectivity | Solid commercial momentum Strong commercial momentum through demand resilience, network investments and disciplined execution Active Data Subscribers (m) Data Usage per Active U ser (GB) Smartphone Penetration 11.6% 20.0% 7.9pp 53.2
Slide 9: Fintech progress
Business overview Financial review Looking Ahead Q&A Fintech progress Fintech strategy recalibration yielding positive results Core fintech Revenue 1 (N’bn ) Customer Deposits ( N’bn ) 188.0 % 156.1% 10.9 9.8 3.8 3.8 FY 24 FY 25 FY 24 FY 25 Active MoMo Wallets (m) Growth Enablers 30.8% ▪ Scaled rura
Slide 10: Creating shared value
Business overview Financial review Looking Ahead Q&A cm Creating shared value Eco - responsibility Sustainable Societies Sound Governance Economic value - added Commitments “We are committed to “We are committed to driving digital, “We are committed partners with “We are committed to boosting inclus
Slide 11: FY 2025 Results vs. Guidance
Business overview Financial review Looking Ahead Q&A FY 2025 Results vs. Guidance FY 2025 performance in line with our single - year guidance KPI FY 2025 Single - Year Guidance FY 2025 Performance Service At least low - 50% 55.1% revenue EBITDA At least low - 50% 52.7% Margin Capex ‘Upper teens’ 19.
Slide 12: Financial review
Financial review Modupe Kadri CFO
Slide 13: Factors underpinning our performance
Business overview Financial review Looking Ahead Q&A Factors underpinning our performance Improved macro conditions Price adjustments ▪ Stronger naira and improved FX liquidity ▪ Regulatory approval of a 50% price adjustment in January 2025 ▪ Easing inflation ▪ Commenced phased implementation in mid
Slide 14: Revenue and expense profile
Business overview Financial review Looking Ahead Q&A Revenue and expense profile Strong topline growth and cost efficiencies Revenue ( N’b ) Expenses ( N’b ) + 54 .9% Average 33.2% 23.4% Inflation 5,203.0 + 20.2 % 3,358.5 2,782.0 Data +74.5% 1594.4 2,460.9 2,047.4 688.3 Cost of sale +30.3% 1,850.1 V
Slide 15: EBITDA Growth and Margin Expansion
Business overview Financial review Looking Ahead Q&A EBITDA Growth and Margin Expansion Sustained EBITDA and margin progression through the year, supporting a strong ~1 09 % YoY EBITDA growth +108.9% (N’b ) 2,743.8 ▪ EBITDA more than doubled, driven by strong service revenue growth and disciplined o
Slide 16: Strong free cash flow generation
Business overview Financial review Looking Ahead Q&A Strong free cash flow generation Stronger margins and disciplined capex allocation underpinned robust free cash flow generation (N’b ) 1,430.4 ▪ Stronger free cash flow generation, up by more than three times. ▪ Working capital inflows declined by
Slide 17: Capital structure
Business overview Financial review Looking Ahead Q&A Capital structure De - risked balance sheet through deleveraging and improved liquidity | Debt metrics within covenant headroom Net Debt ( N’b ) Tenor mix Net Debt/EBITDA 1 Interest Cover 2 114.9% 832.2 46% 719.5 68% 82% - 107.5 54% 32% FY 25: - 0
Slide 18: Looking ahead
Looking ahead Karl Toriola CEO
Slide 19: Our priorities
Business overview Financial review Looking Ahead Q&A Our priorities Driving growth through connectivity, fintech & digital infrastructure Connectivity Fintech Digital 01 Infrastructure Deliver Strong Growth in Accelerate Owning Simplify Digital Drive Fintech Capture Data Connectivity the Home Experi
Slide 20: Guidance
Business overview Financial review Looking Ahead Q&A Guidance Updated an raised our medium - term EBITDA margin guidance to reflect recent developments KPI Medium Term Guidance (FY 26 - 28) Service revenue At least low - 20% Mid - high 50% EBITDA Margin (revised from 53 - 55% range) Capex Intensity
Slide 21: Q&A
Q&A
Slide 22: Thank you Q&A
Doing Doing for Thank you tomorrow, tomorrow, today today. Q&A Thank you
MTN Nigeria Communications — FY2025 Earnings Presentation on 6ix