MTN Uganda Income Statement

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

Millions UGX. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Operating Revenue	3,494,646	3,172,721	2,669,146	2,286,252	2,060,087	1,877,799
Other Revenue	3,500	878.54	1,110	30,799	-	-
Revenue	3,498,145	3,173,599	2,670,256	2,317,051	2,060,087	1,877,799
Revenue Growth (YoY)	14.57%	18.85%	15.24%	12.47%	9.71%	41.94%
Cost of Revenue	715,217	715,217	626,262	526,304	463,985	480,549
Gross Profit	2,782,928	2,458,382	2,043,994	1,790,748	1,596,102	1,397,250
Selling, General & Admin	570,048	570,048	485,580	430,060	375,300	324,682
Amortization of Goodwill & Intangibles	86,014	87,427	91,633	76,610	117,700	50,998
Other Operating Expenses	318,596	217,353	180,174	173,498	153,995	151,591
Operating Expenses	1,434,809	1,297,815	1,114,675	1,017,961	959,826	798,308
Operating Income	1,348,119	1,160,567	929,318	772,787	636,276	598,943
Interest Expense	-309,771	-290,360	-275,468	-191,512	-147,507	-138,194
Interest & Investment Income	63,457	54,175	54,548	28,046	5,314	3,566
Currency Exchange Gain (Loss)	-2,613	-2,613	-1,776	-17,782	-3,141	-3,936
Other Non Operating Income (Expenses)	-	-	-	-0	-	-
EBT Excluding Unusual Items	1,099,193	921,769	706,622	591,538	490,943	460,379
Asset Writedown	-1,093	-1,093	-294.98	-509.39	-	-
Pretax Income	1,098,100	920,676	706,327	591,029	490,943	460,379
Income Tax Expense	444,797	279,128	213,251	184,979	150,533	138,697
Earnings From Continuing Operations	653,303	641,548	493,077	406,050	340,410	321,682
Net Income	653,303	641,548	493,077	406,050	340,410	321,682
Net Income to Common	653,303	641,548	493,077	406,050	340,410	321,682
Net Income Growth	9.24%	30.11%	21.43%	19.28%	5.82%	19.47%
Shares Outstanding (Basic)	22,409	22,389	22,389	22,389	22,389	22,389
Shares Outstanding (Diluted)	22,409	22,389	22,389	22,389	22,389	22,389
Shares Change (YoY)	0.16%	-	-	-	-	594720.51%
EPS (Basic)	29.15	28.65	22.02	18.14	15.20	14.37
EPS (Diluted)	29.15	28.65	22.02	18.14	15.20	14.37
EPS Growth	9.06%	30.11%	21.43%	19.28%	5.82%	-99.98%
Free Cash Flow	864,550	760,332	641,946	591,791	680,993	391,756
Free Cash Flow Per Share	38.58	33.96	28.67	26.43	30.42	17.50
Dividend Per Share	29.000	22.600	18.000	15.900	4.706	40650.000
Dividend Growth	41.46%	25.56%	13.21%	237.87%	-99.99%	-0.85%
Gross Margin	79.55%	77.46%	76.55%	77.29%	77.48%	74.41%
Operating Margin	38.54%	36.57%	34.80%	33.35%	30.89%	31.90%
Profit Margin	18.68%	20.21%	18.47%	17.52%	16.52%	17.13%
Free Cash Flow Margin	24.71%	23.96%	24.04%	25.54%	33.06%	20.86%
EBITDA	1,620,392	1,397,089	1,143,608	998,715	908,919	802,137
EBITDA Margin	46.32%	44.02%	42.83%	43.10%	44.12%	42.72%
D&A For EBITDA	272,273	236,523	214,290	225,928	272,642	203,195
EBIT	1,348,119	1,160,567	929,318	772,787	636,276	598,943
EBIT Margin	38.54%	36.57%	34.80%	33.35%	30.89%	31.90%
Effective Tax Rate	40.51%	30.32%	30.19%	31.30%	30.66%	30.13%

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.