Q3 2025 MTN Group Ltd Earnings Call Transcript
Key Points
- MTN Group Ltd (MTNOF) achieved a significant milestone by surpassing 300 million customers, aligning with their Ambition 2025 strategy.
- The company reported strong service revenue growth of 22.6% for the nine months, driven by a 35.4% increase in data revenue and a 23.1% rise in Fintech revenue.
- MTN Nigeria showed a robust performance with a 57.1% increase in service revenue, supported by strong growth in data, voice, digital, and fintech revenues.
- The company's EBITDA margin improved by 6.7 percentage points to 45%, reflecting strong top-line growth and expense efficiencies.
- MTN Group Ltd (MTNOF) maintained a healthy balance sheet, with consolidated net debt to EBITDA improving to 0.4 times, down from 0.7 times at the end of last year.
- MTN South Africa faced ongoing competitive pressures in the prepaid market, particularly affecting voice revenue.
- The company experienced a slowdown in Fintech revenue growth in Q3, attributed to increased competitive intensity and pricing pressures in some markets.
- MTN Ghana's top-line growth showed an abating trend in Q3 due to regulatory impacts and a shift from traditional voice calls to voice over IP services.
- The EBITDA margin in MTN South Africa was impacted by investments in commercial activities and an uptick in bad debt.
- MTN Group Ltd (MTNOF) is navigating legal challenges, including a US Department of Justice investigation and ongoing jurisdictional arguments in ATA cases.
Good day to everyone, and thank you for joining us once again to discuss the MTN Group trading update for the nine months ended September 2025. Apologies for starting five minutes late, but we'll give you the full hour in terms of the call.
My name is Thato Motlanthe, I look after Investor Relations at the MTN Group. And on the call with me this afternoon, I've got Ralph Mupita, who is our Group President and CEO; as well as Tsholofelo Molefe, who's our Group CFO.
Our trading update was published this morning on the JSE and is posted on our website. If you haven't had a chance to look as yet, you'll find it on the Investor Relations page. I trust that you've also seen the Q3 releases from our listed opcos. They published their results over the past few weeks. And hopefully, you were able to join their respective investor calls as well.
In terms of the agenda for the day, the running order of the call will be as usual. Ralph will get us underway with an overview of the operational performance that will be
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