November 19, 2025/Cordros Report We update our views on MTN Nigeria Communications Plc (MTNN) following its 9M-25 unaudited results, which showed solid revenue growth (+57.5% y/y), a 15.10 ppts y/y expansion in EBITDA margin to 51.4%, and an EPS of NGN35.77. The performance was driven by robust data demand, an […]
Author: InvestAdvocate
Nigeria’s Foreign Reserves Hit Seven-Year High of $46.7Bn
November 19, 2025/CSL Update Nigeria’s external reserves have climbed to their highest level in seven years, reaching US$46.7 billion as of 14 November 2025, according to the Central Bank of Nigeria (CBN). The CBN Governor, Olayemi Cardoso, noted that this milestone, which was last recorded in 2018, reflects renewed investor […]
TotalEnergies Marketing Nigeria Plc Q3-25 Update: Weak Operating Leverage Drives Earnings Revision
November 19, 2025/Cordros Report This report provides an updated outlook and revised estimates for TOTAL for the remainder of 2025E. The company’s Q3-25 performance was notably weaker, with revenue declining by 38.0% y/y (9M-25: –26.0% y/y), reflecting broad-based contractions across all business segments. Operating expenses rose by 14.0% y/y, exerting […]
