2023: Airtel Africa records $2.623bn revenue, posts loss of $13mn in 6months
Airtel Africa Plc has reported revenue of $2.623 billion at the end of first half financial year result ended September 30, 2023.
The company revenue increased by 2.3 per cent against $2.565 billion reported in the same period of 2022.
The company recorded loss after tax of $13 million against profit of $330 million posted in the corresponding period of last year.
According to a statement from company “Loss after tax was $13 million driven largely by a foreign exchange loss of $471million recorded in finance cost before tax and $317million after tax because of the devaluation of the Nigerian naira in June 2023.
Total customer base grew by 9.7 per cent to 147.7 million, as the penetration of mobile data and mobile money services continued to rise, driving a 23.0 per cent increase in data customers to 59.8 million and a 23.1 per cent increase in mobile money customers to 36.5 million.
Mobile money transaction value increased by 45.3 per cent in constant currency, with second quarter 2024 annualised transaction value of $116 billion in reported currency.
Across the Group mobile services, revenue grew by 18.3 per cent in constant currency,
driven by voice revenue growth of 11.5 per cent and data revenue growth of 28.1 per cent while Mobile money revenue grew by 30.9 per cent in constant currency.
The Board declared an interim dividend of 2.38 cents per share, an increase of 9 per cent, in-line with the company progressive dividend policy.
Group chief executive officer, Olusegun Ogunsanya on the trading update said “I am pleased to report a strong operating performance for the Group despite foreign exchange headwinds in many of our markets and specifically in Nigeria. The resilient growth in voice, data and mobile money usage levels reflects the inherent demand for these essential services across our footprint, and our six-pillar ‘win-with’ strategy continues to ensure we capture this growth opportunity by expanding our customer base and providing the platform to enable increased usage across the network. This strong momentum is supported by continued cost efficiencies which enabled further EBITDA margin expansion.”
