Airtel Africa’s latest results for the nine months to 31 December 2024 show growth in customers, revenue, and financial management.
The telco’s total customer base rose by 7.9% to 163.1 million, with data customers up 13.8% to 71.4 million.
Data usage per customer increased by 32.3% to 6.9 GB, and smartphone penetration reached 44.2%.
Mobile money subscribers grew by 18.3% to 44.3 million, with Q3’25 transaction value rising 33.3% to an annualised $146 billion. Network capacity expanded with 2,850 new sites and 2,600 km of fibre.
Revenue for the period was $3,638 million, up 20.4% in constant currency but down 5.8% in reported currency due to devaluation. Q3’25 revenue grew 21.3% in constant currency and 2.5% in reported currency.
Mobile services revenue rose 18.8%, with voice up 9.8% and data up 29.5%. Mobile money revenue increased by 29.6%. EBITDA dropped 11.9% to $1,681 million, with margins at 46.2%, affected by fuel costs and Nigeria’s lower contribution.
However, margins improved from 45.3% in Q1’25 to 46.9% in Q3’25. Profit after tax for Q3’25 included a $94 million gain from currency appreciation, but the nine-month profit was $248 million, impacted by $57 million in forex losses.
Capex was $456 million, down 7.8%, with full-year guidance between $725 million and $750 million.
Foreign currency debt was cut by $739 million, with 92% of OpCo debt now in local currency. Leverage increased from 1.3x to 2.4x due to a $1.2 billion rise in lease liabilities from tower lease renewals.
A second $100 million share buyback has been launched after completing a similar buyback.