Airtel Africa Plc has reported a 20.4 per cent growth in revenue to $3,638 million for the nine months ended Dec. 31, 2024.
Airtel Africa said this in a report on Thursday.
It said the total customer base grew by 7.9 per cent to 163.1 million, with data customer penetration increasing by 13.8 per cent to 71.4 million.
According to Airtel Africa, data usage per customer increased by 32.3 per cent to 6.9 GBs, with smartphone penetration increasing by 5.2 per cent to reach 44.2 per cent.
The report said the company’s mobile money subscribers also increased by 18.3 per cent to 44.3 million, with transaction value in the third quarter increasing by 33.3 per cent in constant currency.
It said annualised transaction value was $146 billion, with Average Revenue Per User (ARPU) growth of 15.0 per cent and mobile money ARPU growth of 11.8 per cent in constant currency.
“Airtel Africa’s Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) during the period declined by 11.9 per cent in reported currency to $1,681 million, with EBITDA margins of 46.2 per cent impacted by increased fuel prices and the lower contribution of Nigeria to the group.
“The company’s capital expenditure decreased by 7.8 per cent to $456 million, with capex guidance for the full year remaining between $725 million and $750 million.
“Airtel Africa’s leverage has increased from 1.3x to 2.4x primarily reflecting the 1.2 billion dollars increase in lease liabilities arising from the extension of its tower lease agreements, the report said.
It noted that Airtel Africa’s Operating Company debt was now mostly in local currency, with only 8 per cent denominated in foreign currency.
Commenting, Airtel Africa’s Chief Executive Officer, Mr Sunil Taldar said: “We have delivered an improvement in both the operating and financial performance in the last quarter driven by our refined strategy.
“Our focus on speed and quality execution is enabling us to unlock the substantial opportunities for growth across our markets and business segments, where demand remains significant.
“The scale of data traffic growth across our markets had an increase of 49 per cent over the last year, is a testament to the investments we have made and the relentless focus on our strategy to create value for all our stakeholders.
“We continue to focus on further margin improvement. Furthermore, our capital structure remains robust with just 8 per cent of OpCo debt in foreign currency, a substantial improvement over the last year,” Taldar said.
He noted that continued confidence in the outlook for the business, had enabled the board to announce a second share buyback programme, which will return up to $100 million to shareholders.
“The recent signs of currency stabilisation in some markets and the recent decision from the Nigerian Communications Commission regarding tariff adjustments in Nigeria are encouraging and signals a more stable operating environment.
“While challenges remain, these developments provide a firm foundation for growth and improved market conditions,” Taldar said.
(NAN)
