MTN Group Limited (JSE:MTN)

MTN Group Income Statement

Financials in millions ZAR. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Operating Revenue	206,420	188,001	221,056	207,003	181,646	179,361
Other Revenue	327	585	324	39	-	99
Revenue	206,747	188,586	221,380	207,042	181,646	179,460
Revenue Growth (YoY)	3.77%	-14.81%	6.93%	13.98%	1.22%	18.49%
Cost of Revenue	70,241	70,748	78,493	69,055	59,737	63,170
Gross Profit	136,506	117,838	142,887	137,987	121,909	116,290
Selling, General & Admin	26,091	24,335	27,249	25,005	22,550	21,318
Other Operating Expenses	12,014	11,660	14,992	12,892	11,967	9,246
Operating Expenses	78,060	74,577	85,839	74,094	70,273	68,384
Operating Income	58,446	43,261	57,048	63,893	51,636	47,906
Interest Expense	-19,849	-18,350	-18,954	-14,313	-13,138	-15,363
Interest & Investment Income	2,542	2,417	3,055	2,042	1,198	1,493
Earnings From Equity Investments	4,529	4,735	3,581	3,369	2,054	1,142
Currency Exchange Gain (Loss)	-1,636	-18,879	-23,170	-6,055	-2,551	-4,537
Other Non Operating Income (Expenses)	-4,600	-4,591	-8,045	-6,359	-6,479	-5,067
EBT Excluding Unusual Items	39,432	8,593	13,515	42,577	32,720	25,574
Impairment of Goodwill	-	-437	-	-625	-583	-998
Gain (Loss) on Sale of Investments	-	-	-	-	1,738	6,062
Gain (Loss) on Sale of Assets	-1,695	-799	-900	-892	-4,720	-1,510
Asset Writedown	-10,204	-11,774	-847	-170	-339	-42
Other Unusual Items	-1,572	-	-	-	-	-
Pretax Income	25,961	-4,417	11,768	40,890	28,816	29,086
Income Tax Expense	15,118	6,790	7,751	17,036	11,822	9,439
Earnings From Continuing Operations	10,843	-11,207	4,017	23,854	16,994	19,647
Minority Interest in Earnings	-3,300	1,615	75	-4,817	-3,244	-2,625
Net Income	7,543	-9,592	4,092	19,037	13,750	17,022
Net Income to Common	7,543	-9,592	4,092	19,037	13,750	17,022
Net Income Growth	-	-	-78.50%	38.45%	-19.22%	87.06%
Shares Outstanding (Basic)	1,808	1,807	1,806	1,805	1,802	1,799
Shares Outstanding (Diluted)	1,819	1,807	1,838	1,852	1,849	1,818
Shares Change (YoY)	0.70%	-1.71%	-0.76%	0.16%	1.71%	-0.41%
EPS (Basic)	4.17	-5.31	2.27	10.55	7.63	9.46
EPS (Diluted)	4.15	-5.31	2.23	10.28	7.44	9.36
EPS Growth	-	-	-78.31%	38.17%	-20.51%	87.95%
Free Cash Flow	33,410	22,183	31,871	36,723	42,873	35,011
Free Cash Flow Per Share	18.37	12.28	17.34	19.83	23.18	19.26
Dividend Per Share	3.450	3.450	3.300	3.300	3.000	-
Dividend Growth	4.54%	4.54%	-	10.00%	-	-
Gross Margin	66.03%	62.48%	64.54%	66.65%	67.11%	64.80%
Operating Margin	28.27%	22.94%	25.77%	30.86%	28.43%	26.70%
Profit Margin	3.65%	-5.09%	1.85%	9.20%	7.57%	9.49%
Free Cash Flow Margin	16.16%	11.76%	14.40%	17.74%	23.60%	19.51%
EBITDA	82,151	65,859	84,991	87,364	75,481	72,763
EBITDA Margin	39.73%	34.92%	38.39%	42.20%	41.55%	40.54%
D&A For EBITDA	23,705	22,598	27,943	23,471	23,845	24,857
EBIT	58,446	43,261	57,048	63,893	51,636	47,906
EBIT Margin	28.27%	22.94%	25.77%	30.86%	28.43%	26.70%
Effective Tax Rate	58.23%	-	65.86%	41.66%	41.03%	32.45%

Updated Mar 17, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.