South Africa · Delayed Price · Currency is ZAR · Price in ZAc MTN Group Earnings Call Transcripts
Fiscal Year 2026
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Ambition 2030 targets accelerated growth and returns via Connectivity, Fintech, and Digital Infrastructure, driven by demographic trends, digital adoption, and AI. The financial framework stresses disciplined capital allocation, operational efficiency, and enhanced shareholder returns, with a focus on sustainability and risk management.
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The AGM highlighted strong financial growth, strategic fintech and infrastructure initiatives, and robust governance. All resolutions passed with requisite majorities, and the company remains focused on resilience amid global uncertainties.
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Strong Q1 2026 results with 21.1% service revenue growth and EBITDA margin at 47.6%, led by robust data and fintech expansion. Strategic progress in fintech separation and IHS transaction, with resilient balance sheet and focused capital allocation.
Fiscal Year 2025
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FY2025 saw strong revenue and profit growth, margin expansion, and robust cash flow, with over 307 million subscribers and significant gains in data and fintech. Enhanced shareholder returns, a new capital allocation framework, and a strategic pivot to Ambition 2030 position the group for continued growth despite macro and regulatory risks.
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Group service revenue grew 22.6% year-over-year, led by strong performances in Nigeria and Ghana, with fintech transaction value up 38%. EBITDA margin improved to 45%, and the group maintained robust liquidity and balance sheet metrics. Dividend guidance remains at ZAR 3.70 per share.
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Strong H1 2025 results featured robust revenue and EBITDA growth, margin expansion, and improved cash flow, driven by data and fintech momentum and disciplined capital allocation. Upgraded group guidance reflects confidence in continued growth, despite competitive and regulatory challenges.
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The AGM highlighted strong financial growth in connectivity and fintech, robust governance, and strategic initiatives in network sharing and fintech separation. Shareholder concerns on gender equity, AI ethics, and cybersecurity were addressed, and all but one resolution passed with strong support.
Fiscal Year 2024
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Service revenue grew 12.9% in constant currency for the nine months, with strong fintech and data growth, and robust performances in Nigeria and Ghana. EBITDA margins declined due to inflation and currency pressures, but guidance and dividend outlook remain intact.
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The electronic meeting enabled efficient shareholder participation, with all governance requirements met. Two special resolutions were passed with 99.95% approval, and no questions were raised by shareholders during the session.
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Strong underlying growth in data and fintech was offset by naira devaluation and Sudan conflict, leading to a 50% drop in adjusted headline earnings per share. CapEx and dividend guidance for FY 2024 are maintained, with continued focus on expense efficiency and network investment.