Airtel Malawi Plc Reports 26.8% Revenue Growth Driven by Increased Customer Base and Higher ARPU

Published On: September 4, 2023Company: Airtel Malawi Plc (AIRTEL.mw)
What is the key growth driver for Airtel Malawi Plc's revenue?
The key growth driver was the growth in customer base by 5.8% and an increase in average revenue per user per month (ARPU) by 20.7%.

Summary

  • The total customer base of Airtel Malawi Plc grew by 5.8% to 6.8 million. Mobile data customers grew 14.7%.
  • ARPU increased by 20.7% due to increased usage of voice and data services.
  • Revenue grew by 26.8% to K 85,976 million from growth across all business segments.
  • Voice revenue increased by 16.9%, Data by 30.4%, and other revenue by 86.7%.
  • EBITDA increased by 22.9% to K40,702 million. EBITDA margin declined due to inflationary cost pressures.
  • Net Finance costs reduced by 47.4% due to lower foreign exchange losses.
  • Profit after tax was at K18,991 million, up from K8,901 million from last year.
  • Basic EPS increased by 113.4% to K1.73 from K0.81.
  • Capex investment increased by 65.2 % to K5,567 million for future growth prospects.
  • The company faced challenges due to Kwacha depreciation and scarcity of foreign currency.
  • The company did not declare an interim dividend due to macroeconomic pressures.
  • The company expanded its network coverage with roll out of additional 56 sites.

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About Airtel Malawi Plc (AIRTEL.mw)

Airtel Malawi Plc was incorporated on 3rd September 1998 under company registration number 5114 as a private limited company and trades under the name Airtel. Airtel became the Malawi’s second mobile service provider with the launch of a GSM network in October 1999. The Company began rolling out a GPRS upgrade across its infrastructure in 2006 and a commercial launch of the service took place in October 2007.

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