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

MTN Nigeria Communications Plc reported its H1 2026 financial results, disclosing service revenue of ₦2.97 trillion, a 25.9% year-on-year increase. Profit after tax rose 70.6% to ₦707.5 billion, with earnings per share of ₦33.7.

EBITDA grew 39.2% to ₦1.7 trillion, with EBITDA margin expanding by 5.3 percentage points to 55.9%. The company reported free cash flow of ₦712.7 billion, up 73.9% year-on-year. Capital expenditure, excluding leases, was ₦620.5 billion, representing a capex intensity of 20.7%.

On the commercial side, total subscribers grew 8.9% to 92.2 million, while active data users increased 9.3% to 55.7 million. Data revenue was the largest service revenue contributor at ₦1.70 trillion, up 38.4%. Fintech revenue declined 7.2% to ₦77.2 billion, which the CEO attributed partly to a temporary suspension of the airtime and data credit service. Operating expenses grew 11.3% to ₦943.4 billion.

The Board approved an interim dividend of ₦26 per share, payable on 7 September 2026. The qualification date for the dividend is 20 August 2026. The naira closed at ₦1,380/US$ at end of H1 2026, compared to ₦1,530/US$ at end of H1 2025.