South Africa’s MTN said on Tuesday its core earnings for the first quarter rose by 27.9%, driven by strong performances in Nigeria and Ghana.
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Africa’s biggest telecom operator, which has more than 310 million customers in 16 markets across the continent, said its earnings before interest, tax, depreciation, and amortization (EBITDA) for the three months ended March 31 rose to 27.6 billion rand ($1.67 billion) in constant currency.
MTN Nigeria had reported a profit after tax of N355.5bn in the first quarter of 2026, up 165.9 per cent year-on-year.
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In its unaudited results released last month, the telecom operator, however, noted that it expects a 1.8 to 2.0 percentage point decline in full-year Earnings Before Interest, Taxes, Depreciation and Amortisation margins if diesel prices average N2,000 per litre in the second half of the year.
“We continue to monitor developments in the operating environment, including energy price volatility and regulatory dynamics,” Chief Executive Officer Karl Toriola said in the Q1 report.
