airtel kenya

Airtel Africa has reported a 17.8 percent revenue increase to $1.22 billion in Q4 ended 31 March up from $1.04 billion in the same period last year.

Constant currency underlying revenue grew 19.1 percent. Underlying EBITDA increased by 22.9 percent to $608 million from $495 million, giving a margin of 49.7 percent (47.7%). Net profit climbed 56 percent to $240 million from $154 million.

In the full fiscal year ended 31st March, reported revenue grew by 10.6 percent to $4.71 billion from $3.91 billion. Constant currency underlying revenue expanded by 23.3 percent for the year, with a growth of 27.7 percent in Nigeria, 22.7 percent in East Africa, and 17.2 percent in Francophone Africa, and with voice revenue up 15.4 percent, data up 34.6 percent, and Mobile Money revenue up 34.9 percent.

Meanwhile, full-year underlying EBITDA climbed 29.0 percent to $2.31 billion from $1.79 billion in reported currency and the margin was 49.0 percent, up by 294 basis points from 46.1 percent. Net profit surged by 82.0 percent to $755 million from $415 million. Basic EPS was USD 0.17, an increase of 86.5 percent from USD 0.09.

Operating free cash flow increased by 40.5 percent to $1.65 billion from $1.18 billion with net cash generated from operating activities up 20.7 percent to $2.01 billion.

Over the last twelve months, the business has repaid nearly $1.4 billion of debt at HoldCo as a result of strong cash upstreaming across its OpCos and proceeds from minority investments in mobile money and tower sales.

The customer base expanded by 8.7 percent to 128.4 million, with increased penetration in mobile data (customers up 15.2%) and mobile money services (customers up 20.7%). Rules on NIN/SIM registration in Nigeria dented customer growth in H1 it then added 4 million customers there in the second half.

The board recommends a final dividend of $0.03 per share, making total FY22 dividends USD 0.05 per share. This is compared with $0.04 in 2021.

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