Airtel Africa Plc (Nigeria) Q1 2022 revenue grew by 30.7% to $1,112m

By Published On: June 6th, 2022Categories: Corporate announcement

Airtel Africa Plc (AIRTEL.ng) Q12022 Interim Report

Highlights for the quarter ended 30 June 2021

  • Q1’22 Reported revenue grew by 30.7% to $1,112m, with constant currency growth of 33.1%. Revenue growth partially benefitted from a weakened quarter in the prior year during the peak of Covid-19 restrictions across the region. Even after adjusting for these effects, revenue growth rates for the Group, service segments and reporting regions were all ahead of Q4’21 trends.
  • Strong revenue growth was recorded across all regions: Nigeria up 38.2%, East Africa up 32.8% and Francophone Africa up 24.9%; and across key services, with revenues for voice up 26.0%, data up 37.4% and mobile money up 53.7%.
  • Underlying EBITDA grew by 42.4% to $534m in reported currency, while constant currency growth was 46.2%.
  • Underlying EBITDA margin was 48.0%, an increase of 396 basis points (increase of 428 basis points in constant currency) led by both
    revenue growth and improved operational efficiencies.
  • Operating profit was $352m, up 67.6% in reported currency and 73.9% in constant currency.
  • Profit after tax more than doubled to $142m, up 148.7%, largely due to the higher operating profits along with stable net finance costs which more than offset the increase in tax charges due to increased profits.
  • Basic EPS was 3.3 cents, an increase of 200%, as a result of higher profit and stable finance costs and foreign exchange. EPS before exceptional items was 3.2 cents.
  • Operating free cash flow (underlying EBITDA less capex) was $428m, up 38.7%.
  • Customer base grew by 8.4% to 120.8 million, with increased penetration across mobile data (customer base up 14.8%) and mobile money services (customer base up 24.6%). The slowdown in customer base growth was due to new SIM registration regulations in Nigeria; excluding Nigeria the customer base grew by 15.9%.

Airtel Africa Plc (AIRTEL.ng)

Share price: 1,905.40 NGN (0.00 | 0.00% – 16/08/22)

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