MTN Group Balance Sheet

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

Millions ZAR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	42,625	30,301	37,545	44,350	39,488
Short-Term Investments	5,671	7,243	1,569	3,240	3,894
Trading Asset Securities	2,327	1,719	1,797	1,414	1,528
Cash & Short-Term Investments	50,623	39,263	40,911	49,004	44,910
Cash Growth	28.93%	-4.03%	-16.52%	9.12%	10.08%
Accounts Receivable	21,920	22,566	20,871	18,831	17,633
Other Receivables	9,909	10,740	8,156	9,805	8,141
Receivables	31,829	33,306	29,027	29,406	27,656
Inventory	1,310	1,213	1,472	1,906	1,539
Prepaid Expenses	5,936	4,585	3,630	2,512	3,346
Restricted Cash	871	2,029	11,002	10,235	6,801
Other Current Assets	95,638	62,281	58,684	44,502	48,839
Total Current Assets	186,207	142,677	144,726	137,565	133,091
Property, Plant & Equipment	186,278	172,034	165,404	152,871	142,726
Long-Term Investments	35,443	28,878	31,833	32,535	33,764
Goodwill	38,661	32,637	34,526	13,230	15,611
Other Intangible Assets	37,355	36,486	40,287	37,047	28,149
Long-Term Accounts Receivable	2,247	2,613	2,391	2,082	1,714
Long-Term Deferred Tax Assets	6,373	10,457	10,223	6,571	7,223
Long-Term Deferred Charges	1,330	1,230	1,124	1,114	1,091
Other Long-Term Assets	4,818	4,719	4,200	2,336	2,429
Total Assets	498,712	431,731	434,714	385,351	365,798
Accounts Payable	21,746	17,720	17,714	16,758	13,290
Accrued Expenses	31,572	28,280	27,485	32,249	30,077
Short-Term Debt	2,356	4,850	14,418	6,677	3,808
Current Portion of Long-Term Debt	17,387	9,752	15,304	9,532	11,610
Current Portion of Leases	9,175	8,953	9,030	6,020	6,505
Current Income Taxes Payable	6,766	1,756	5,819	11,395	7,035
Current Unearned Revenue	4,153	3,853	4,634	6,716	6,428
Other Current Liabilities	104,806	74,055	70,390	53,777	53,577
Total Current Liabilities	197,961	149,219	164,794	143,124	132,330
Long-Term Debt	53,852	68,212	57,805	65,781	65,484
Long-Term Leases	65,810	67,372	54,378	49,830	41,409
Long-Term Unearned Revenue	1,307	1,088	1,130	1,045	792
Pension & Post-Retirement Benefits	603	321	292	-	-
Long-Term Deferred Tax Liabilities	8,409	7,217	5,709	4,971	9,666
Other Long-Term Liabilities	1,037	728	423	961	1,135
Total Liabilities	328,979	294,157	284,531	265,712	250,816
Additional Paid-In Capital	38,998	38,490	38,490	38,490	37,994
Retained Earnings	95,695	82,198	96,934	93,705	84,086
Comprehensive Income & Other	10,304	2,039	3,781	-17,707	-11,033
Total Common Equity	144,997	122,727	139,205	114,488	111,047
Minority Interest	24,736	14,847	10,978	5,151	3,935
Shareholders' Equity	169,733	137,574	150,183	119,639	114,982
Total Liabilities & Equity	498,712	431,731	434,714	385,351	365,798
Total Debt	148,580	159,139	150,935	137,840	128,816
Net Cash (Debt)	-97,957	-119,876	-110,024	-88,836	-83,906
Net Cash Per Share	-53.24	-66.36	-59.86	-47.97	-45.38
Filing Date Shares Outstanding	1,833	1,807	1,806	1,806	1,803
Total Common Shares Outstanding	1,833	1,807	1,806	1,806	1,803
Working Capital	-11,754	-6,542	-20,068	-5,559	761
Book Value Per Share	79.10	67.93	77.06	63.39	61.58
Tangible Book Value	68,981	53,604	64,392	64,211	67,287
Tangible Book Value Per Share	37.63	29.67	35.65	35.55	37.31
Land	12,340	11,292	11,702	10,816	9,555
Machinery	23,505	20,724	23,314	20,213	19,810
Construction In Progress	22,056	22,457	20,067	14,760	12,984
Leasehold Improvements	4,226	4,140	4,892	4,675	4,824

Source: S&P Global Market Intelligence. Standard template. Financial Sources.