MTN Nigeria Plc says it recorded a foreign exchange (FX) net loss of N5.23 billion in its operations in the first half (H1) of 2025.
MTN said the reported figure represents a sharp decrease of 99.4 percent relative to the N887.68 billion recorded in the first half (H1) of 2024.
The telcoms giant’s FX loss recovery is captured in its audited financial results for the half-year ended June 30, 2025, filed on the Nigerian Exchange Limited (NGX) on Thursday.
MTN said its realised FX loss was N95.25 billion in the period under review, while unrealised FX gain of N90.02 billion was also recorded.
Realised FX gain or loss means gains or losses from completed foreign currency transactions, while unrealised FX gain or loss refers to potential profits or losses from transactions that have not been completed.
According to the financial statement, MTN’s earnings before interest, tax, depreciation, and amortisation (EBITDA) increased by 119.5 percent to N1.2 trillion, and the EBITDA margin increased to 35.6 percent.
The telco said it recorded a revenue of N2.4 trillion between January and June, representing a 54.6 percent appreciation compared to N1.53 trillion earned in the first six months of 2024.
The company’s financial report for the period under review showed that voice and data generated N887.13 billion and N1.23 trillion, respectively — indicating growth rates of 40.3 percent and 69.2 percent, respectively.
MTN Nigeria also reported a profit after tax (PAT) of N414.85 billion in its operations for the first six months of 2025, marking a strong recovery from the loss after tax of N519.1 billion recorded in the prior year.
The telecoms giant said macroeconomic conditions in Nigeria improved notably in the period
under review, including a relatively stable naira, improved FX liquidity and easing inflationary pressures.
“The Central Bank of Nigeria (CBN) maintained the Monetary Policy Rate (MPR) at 27.5% to anchor inflation expectations, contributing to a moderation in the headline inflation to 22.2% in June 2025,” the report reads.
“The naira held steady, closing the period at N1,530/US$ (December 2024: N1,535/US$).”
This, the company said, helped to improve its business performance and set a more supportive context for increased long-term investments.
