ADVERTISEMENT
TechEconomy
Tuesday, June 3, 2025
No Result
View All Result
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Gadgets and Appliances
      • Apps
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Apply
  • TecheconomyTV
  • Techeconomy Events
  • BusinesSENSE For SMEs
  • TBS
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Gadgets and Appliances
      • Apps
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Apply
  • TecheconomyTV
  • Techeconomy Events
  • BusinesSENSE For SMEs
  • TBS
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Podcast

Home » Airtel Africa Results for Nine-month Period Ended 31 December 2023

Airtel Africa Results for Nine-month Period Ended 31 December 2023

Sustained operating momentum despite continued foreign exchange headwinds. Intention to buy back up to $100m of shares

Techeconomy by Techeconomy
February 2, 2024
in Finance
0
Airtel Africa 150 millionth customer
Airtel logo

Airtel logo

RelatedPosts

Tony Elumelu, chairman of UBA

Tony Elumelu Buys N43.9bn Worth of UBA Shares to Boost Stake

June 3, 2025

Naira Appreciates, Closes at N1,582/$1 in Official Market

June 3, 2025

Highlights

Operating key performance indicators (KPIs)

  • Airtel Africa: Total customer base grew by 9.1% to 151.2 million. The penetration of mobile data and mobile money services continued to rise, driving a 22.4% increase in data customers to 62.7 million and a 19.5% increase in mobile money customers to 37.5 million.
  • Constant currency ARPU growth of 10.0% was primarily driven by increased usage across all segments.
  • Mobile money transaction value increased by 41.3% in constant currency, with Q3’24 annualised transaction value of $116bn in reported currency.

Financial performance

  • Revenue in constant currency grew by 20.2%, with Q3’24 growth accelerating to 21.0%. Reported currency revenues declined by 1.4% to $3,861m. In Q3’24, reported currency revenues declined by 8.3% as currency devaluation (primarily the Nigerian naira devaluation) continued to impact reported revenue trends.
  • All segments continued to deliver double-digit constant currency growth. Across the Group mobile services revenue grew by 18.6% in constant currency, driven by voice revenue growth of 11.2% and data revenue growth of 28.5%. Mobile money revenue grew by 31.8% in constant currency.
  • Constant currency EBITDA increased 21.9%, with Q3’24 EBITDA growing 23.3%. The EBITDA margin of 49.4% increased 72bps over the prior period despite foreign exchange headwinds and inflationary pressure. Reported currency EBITDA declined by 0.4% to $1,908m, with Q3’24 EBITDA 8.3% lower as currency headwinds continued to impact reported trends.
  • Profit after tax was $2m in the period, primarily impacted by significant foreign exchange headwinds, particularly the $330m exceptional loss after tax following the devaluation of the Nigerian naira in June 2023 and the Malawian kwacha in November 2023 after the structural changes in their respective FX markets. The Nigerian naira devalued further in Q3’24, resulting in a $140m derivative and foreign exchange losses net of tax, which is not treated as an exceptional item.
  • EPS before exceptional items was 7.1 cents, a decline of 34.6%. Basic EPS at negative (1.6 cents) compares to 12.5 cents in the prior period, impacted by the significant derivative and foreign exchange losses as explained above.

Capital allocation

  • Capex of $494m was 8.2% higher compared to the prior period. Capex guidance for the full year remains between $800m and $825m as we continue to invest for future growth.
  • Leverage of 1.3x in December 2023, improved from 1.4x in the prior period. The remaining debt at HoldCo is $550m, falling due in May 2024. Cash at the HoldCo was $560m at the end of the period and the Group is expecting to fully repay the HoldCo debt when due.
  • In light of the Holdco cash accretion and where leverage is today, and in view of the consistent strong operating cash generation of the Company, the Board intends to launch a share buy-back programme of up to $100m, starting early March 2024 over a 12-month period.

Sustainability strategy

  • Airtel Africa ‘s landmark five-year $57m partnership with UNICEF has been launched across 10 of our markets providing access to educational resources, free of charge, on our way to transforming the lives of over one million children through our educational programmes by 2027.
  • In November 2023 Airtel Africa launched its Scope 3 strategy which focuses on an ongoing engagement programme with the top tier partners and suppliers, ensures a regular flow of information and enables the Group monitor their impact on the environment.
Airtel Africa Results for Nine-month Period Ended 31 December 2023
Advertisements
MTN ADS
Airtel Africa Results for Nine-month Period Ended 31 December 2023

[Abridge Report]

12 total views , 2 views today

Author

  • Techeconomy
    Techeconomy

    View all posts
0Shares
Tags: Airtel Africa
Previous Post

Spotify Spotlights the Seven Africans nominated for Grammy Glory

Next Post

Publiseer Begins Apple Books Digital Narration for African Authors

Techeconomy

Techeconomy

Related Posts

Tony Elumelu, chairman of UBA
Finance

Tony Elumelu Buys N43.9bn Worth of UBA Shares to Boost Stake

by Latifat Fashina
June 3, 2025
0

Tony Elumelu, chairman of United Bank for Africa Plc (UBA), has increased his stake in the bank by purchasing 1,267,669,350...

Read more
NairaWatch, Naira and dollar

Naira Appreciates, Closes at N1,582/$1 in Official Market

June 3, 2025
Agentforce for financial services by Salesforce

Salesforce Introduces Agentforce for Financial Services to Address Shrinking Workforces

June 2, 2025
Segun Alebiosu, CEO, FirstBank China-Africa Interbank Association | FirstBank Agent Credit

FirstBank Disburses N1billion in One Day via Agent Credit Scheme

June 2, 2025
America Debt - IMF

Can AI Save America from its Debt Spiral

May 31, 2025
Nigeria economy by FBNQuest, Naira currency, Nigeria's currency, strongest currencies

Naira Holds Steady at N1,586/$1 in Official Market

May 31, 2025
Next Post
Chidi Nwaogu, one of the founders of Publiseer

Publiseer Begins Apple Books Digital Narration for African Authors

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Techeconomy Podcast

Techeconomy Podcast
Techeconomy Podcast

Infowave is brought to you by TechEconomy. Every week we will bring new stories from startups and influencers who are shaping and changing the world we live in. We’ll also bring you reports on topics you should know.

Follow us @techeconomyng for more.

Audio Player
TECH TALK EPISODE 2
Techeconomy Podcast
TECH TALK EPISODE 2
PRODUCTIVITY AND WORK-Life Balance[...]
  • 0.8
  • 1
  • 1.2
  • 1.5
  • 2
Download
  • Facebook
  • Twitter
  • Linkedin
  • Copy episode link Copied
  • Download
Captions
00:00
00:00
TECH TALK EPISODE 2
byTecheconomy

PRODUCTIVITY AND WORK-Life Balance

TECH TALK EPISODE 2
May 22, 2025
Techeconomy
CYBERSECURITY ESSENTIALS
April 24, 2025
Techeconomy
Digital Marketing Trends and strategies for 2025 and beyond
February 27, 2025
Techeconomy
Major Lesson for Techies in 2024 and Projections for 2025
December 6, 2024
Techeconomy
Major Lessons for Techies in an AI-Driven World | Techeconomy Business Series Highlights
November 26, 2024
Techeconomy
Maximizing Profitability Through Seasonal Sales: Strategies For Success
November 8, 2024
Techeconomy
Techeconomy Business Series
October 15, 2024
Techeconomy
PRIVACY IN THE ERA OF AI: GETTING YOUR BUSINESS READY
May 30, 2024
Techeconomy
Unravel the Secrets of Marketing Everywhere All At Once with Isaac Akanni from Infobip | Infowave Podcast Episode 1
February 9, 2024
Techeconomy
The Role of Ed-tech in Life Long Learning and Continuous Education
October 19, 2023
Techeconomy
Search Results placeholder

WHAT IS TRENDING

Video Player
https://www.youtube.com/watch?v=g_MCUwS2woc&list=PL6bbK-xx1KbIgX-IzYdqISXq1pUsuA4dz
00:00
00:00
00:31
Use Up/Down Arrow keys to increase or decrease volume.

Follow Us

  • About Us
  • Contact Us
  • Careers
  • Privacy Policy

© 2025 Techeconomy - Designed by Opimedia.

No Result
View All Result
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Gadgets and Appliances
      • Apps
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Apply
  • TecheconomyTV
  • Techeconomy Events
  • BusinesSENSE For SMEs
  • TBS

© 2025 Techeconomy - Designed by Opimedia.

Translate »
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.