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MTN Group Limited (JSE:MTN)
South Africa flag South Africa · Delayed Price · Currency is ZAR · Price in ZAc
19,500
-340 (-1.71%)
Sep 2, 2026, 5:03 PM SAST

MTN Group Cash Flow Statement

Millions ZAR. Fiscal year is Jan - Dec.

Operating Activities

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Jun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Net Income
17,78520,262-9,3694,09219,03713,750
Depreciation & Amortization
35,05834,27031,41737,38331,27831,061
Other Amortization
6,0156,0155,2115,8624,1224,270
Loss (Gain) From Sale of Assets
84848068327074,641
Asset Writedown & Restructuring Costs
3,2443,24412,3578504671,128
Loss (Gain) From Sale of Investments
----342-1,212
Loss (Gain) on Equity Investments
-3,152-3,152-4,735-3,581-3,369-2,054
Stock-Based Compensation
1,9071,9079321,0798071,075
Provision & Write-off of Bad Debts
1,8041,8042,5281,3301,5791,116
Other Operating Activities
23,60016,71314,35220,33215,8989,657
Change in Accounts Receivable
-986-986-8,369-8,767-8,098-4,027
Change in Inventory
-218-218303828-611-97
Change in Accounts Payable
-1,999-1,9994853,8185,9627,978
Operating Cash Flow
83,14277,94445,91864,05868,12167,286
Operating Cash Flow Growth
30.25%69.75%-28.32%-5.96%1.24%14.99%

Investing Activities

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Jun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Capital Expenditures
-31,775-30,907-24,288-32,187-31,398-24,413
Sale of Property, Plant & Equipment
10215470100198175
Cash Acquisitions
-----68
Divestitures
---836-6,355-1,128
Sale (Purchase) of Intangibles
-9,314-9,425-6,675-13,710-13,786-10,812
Investment in Securities
-4,961847-5,5488313456,852
Other Investing Activities
-1,401-1,2324,309-7,361-5,150-1,695
Investing Cash Flow
-48,236-40,930-33,341-52,255-43,436-30,953

Financing Activities

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Jun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Long-Term Debt Issued
-12,55134,84933,38125,00023,754
Long-Term Debt Repaid
--27,881-43,612-33,855-35,539-49,902
Net Debt Issued (Repaid)
-13,614-15,330-8,763-474-10,539-26,148
Issuance of Common Stock
3913,4331,0361,1752,0732,191
Repurchase of Common Stock
-1,439-513-1,237-1,299-1,417-
Common Dividends Paid
-9,168-6,235-5,963-5,963-5,414-
Other Financing Activities
-8,250-5,075-379-2,924-2,122-2,222
Financing Cash Flow
-32,080-23,720-15,306-9,485-17,419-26,179

Net Cash Flow

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Jun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Foreign Exchange Rate Adjustments
-2,843-184-4,365-9,730-2,280-1,515
Miscellaneous Cash Flow Adjustments
1,112-909-400333-371-256
Net Cash Flow
1,09512,201-7,494-7,0794,6158,383

Free Cash Flow

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Jun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Free Cash Flow
51,36747,03721,63031,87136,72342,873
Free Cash Flow Growth
60.17%117.46%-32.13%-13.21%-14.34%22.46%
Free Cash Flow Margin
21.73%20.74%11.47%14.40%17.74%23.60%
Free Cash Flow Per Share
27.8425.5611.9717.3419.8323.18
Levered Free Cash Flow
38,19645,04122,26812,12932,11934,582
Unlevered Free Cash Flow
50,42857,52833,95723,97541,06442,794

Additional Metrics

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Jun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Cash Interest Paid
16,60118,30216,39516,28414,41712,145
Cash Income Tax Paid
14,36912,12010,15215,82413,95310,954
Change in Working Capital
-3,203-3,203-7,581-4,121-2,7473,854