Scancom (MTNGH) Q1 2026 earnings summary

Executive summary

• Achieved strong commercial and financial performance in Q1 2026, with disciplined execution of strategic priorities, focus on customer value, network resilience, and service excellence.

• Achieved strong commercial momentum in connectivity and digital services, driving significant earnings growth and margin expansion.

• Completed the structural separation of the Mobile Money business, now operated by MobileMoney Fintech LTD (MMFL), with both entities' shares stapled and traded as a single listed share.

• Delivered robust growth across data, Mobile Money, and digital services, supported by ongoing investments in network and platform innovation.

• Maintained focus on ESG initiatives, including healthcare and women's economic empowerment programs.

Financial highlights

• Service revenue rose 35.7% year-over-year to GHS7.3 billion in Q1 2026, driven by data (+52.3%), Mobile Money (+28.4%), and digital (+107.1%) revenue growth.

• EBITDA increased 42.9% to GHS4.5 billion, with EBITDA margin expanding by 3.1pp to 61.2%.

• Profit after tax grew 46.8% to GHS2.5 billion; earnings per share increased 46.1% to GHS0.187.

• Interim dividend declared: GHS0.06 per share (Scancom PLC) and GHS0.03 per share (MMFL) for Q1 2026.

• Total capex was GHS0.3 billion (GHS0.2 billion ex-leases); GHS2.8 billion paid in direct and indirect taxes.

Outlook and guidance

• Service revenue growth targeted at mid- to upper thirties percent.

• EBITDA margin expected in the mid- to upper fifties percent range.

• Dividend payout ratio guided at 60–80%.

• Ghanaian macroeconomic environment expected to remain stable, with inflation trending toward the 6-10% target band.

• Ongoing close monitoring of the operating environment and global geopolitical risks.