Historical reporting period: the figures below concern 2024 and were released on 14 November 2024. This is not a current trading update.
Nine-month service revenue
MTN Group reported service revenue of R127.370 billion for the nine months ended 30 September 2024, compared with R156.295 billion a year earlier. This was an 18.5% decline in reported terms. On the company’s constant-currency basis, service revenue increased by 12.9%. MTN’s financial summary states the amounts in millions of South African rand.
Q3 performance is a separate comparison
For the third quarter alone, Group service revenue fell 13.4% year-on-year in reported terms and increased 14.7% in constant currency. The 18.5% decline therefore applies to the nine-month period, not the third quarter alone.
Currency effects and reporting scope
MTN said naira depreciation materially affected its reported results. Its constant-currency comparisons use current-period average exchange rates for the earlier period and specified pro forma adjustments, including hyperinflation treatment. The company’s basis-of-preparation disclosure says this information was not audited or reviewed by its external auditor.
These figures describe MTN Group across its markets. They are not standalone results for MTN Nigeria Communications Plc.
Historical source date: MTN’s 14 November 2024 trading-update call identifies the nine-month reporting period and confirms that the update was published that morning.