JOHANNESBURG, Aug 12 – MTN Group expects its earnings per share to fall by as much as 30% in the first half of 2026, mainly because of losses linked to its investment in Iranian telecom company Irancell.
The telecom group said earnings per share for the six months to June 30 are expected to be between 377 cents and 431 cents, compared with 539 cents a year earlier. MTN said its 49% stake in Irancell was affected by the economic and geopolitical situation in Iran during the period. The company also recorded losses linked to hyperinflation and foreign exchange movements.
The impact from the Irancell investment accounted for 213 cents of the difference in earnings, compared with 104 cents in the same period last year. Other non-operational items added another 178 cents, including 52 cents from hyperinflation and 126 cents from foreign exchange losses.
Despite this, MTN said its underlying business performed better. Adjusted headline earnings per share are expected to rise by 18% to 23%, reaching between 775 cents and 808 cents, from 657 cents in the first half of 2025.
The company said its businesses in Nigeria, Ghana and Uganda performed well during the period. In Nigeria, however, its fintech business came under pressure, partly due to the suspension of airtime lending.
MTN also said its South African prepaid business remained difficult, especially for voice services.
Meanwhile, MTN is moving ahead with its planned acquisition of IHS. IHS shareholders approved the deal on August 4, giving MTN the required majority to buy the 75.3% of the company it does not already own.
MTN expects to release its full first-half results around August 24.