MTN Nigeria H1 2026 Results: Profit Up 70.6%, Dividend Declared

MTN Nigeria Communications Plc reported service revenue of ₦2.97 trillion for the six months ended 30 June 2026, representing a 25.9% year-on-year increase. EBITDA grew 39.2% to ₦1.7 trillion, with the EBITDA margin expanding by 5.3 percentage points to 55.9%. Profit after tax rose 70.6% to ₦707.5 billion, translating to earnings per share of ₦33.7.

The company's subscriber base grew 8.9% to 92.2 million, with active data users rising 9.3% to 55.7 million. Data revenue was the largest revenue segment, up 38.4% to ₦1.70 trillion, while fintech revenue declined 7.2% to ₦77.2 billion. The company attributed the fintech decline partly to a temporary suspension of its airtime and data credit service.

Capital expenditure, excluding leases, stood at ₦620.5 billion, up 1.2%, at a capex intensity of 20.7%. Free cash flow increased 73.9% to ₦712.7 billion. The naira closed at ₦1,380/US$ at end of H1 2026, compared to ₦1,530/US$ at end of H1 2025. The Board approved an interim dividend of ₦26 per share, payable on 7 September 2026 to shareholders on the register as at 20 August 2026.