MTN reported HEPS down 5.8% to 615c, 0.8% above guidance midpoint of 612.5c. Service revenue increased 9.7% to R115.3bn, with constant currency growth of 17.5%. Data growth and cost efficiencies lifted EBITDA, while Irancell impairment reduced reported earnings. Adjusted HEPS rose 21.3% to 793c below the Bloomberg estimate of 805c. The adjusted figures remove non operational items which totalled about 178c per share, including 52c from hyperinflation and 126c from foreign exchange losses. No interim dividend was declared for H1 2026, unchanged. MTN instead confirmed a R6bn share buyback programme.
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