Business
Q1 23 Results
Q1 23 Results.
About this update from Airtel Africa Plc
[{"type":"text","content":"\n \n \n Airtel Africa plc\n \n \n \n Results for the quarter ended 30 June 2022\n \n \n \n 28 July 2022\n \n \n \n Double-digit revenue growth, margin and earnings progression and further strengthening of our balance sheet\n \n \n \n \n Highlights\n \n \n \n ·\n Revenue grew by 13.0% in reported currency to $1,257m. In constant currency terms revenue grew by 15.3%.\n \n \n · \n Total revenues, for mobile services and mobile money services combined, grew in Nigeria by 18.3%, in East Africa by 14.1% and in Francophone Africa by 11.7%.\n \n \n ·\n Revenue growth in constant currency was posted across all four reporting segments. Mobile Services revenue in Nigeria grew by 18.3%, in East Africa by 11.1% and in Francophone Africa by 10.6% (and across the Group by 14.2%, with voice revenue up by 11.3% and data revenue up by 19.8%). Mobile Money revenue grew by 26.5%, driven by growth of 26.9% in East Africa and 25.4% in Francophone Africa.\n \n \n ·\n EBITDA grew by 14.9% to $614m in reported currency.\n \n \n ·\n EBITDA margin was 48.8%, an increase of 78 basis points in reported currency and 52 basis points in constant currency.\n \n \n ·\n Operating profit grew by 20.6% to $425m in reported currency.\n \n \n ·\n Profit after tax grew by 25.3% to $178m.\n \n \n ·\n Basic EPS increased to 4.4 cents (up by 31.0%). EPS before exceptional items was 3.8 cents, up from 3.2 cents in the prior period.\n \n \n ·\n Operating free cash flow grew by 10.3% to $473m, while net cash generated from operating activities reduced by 13.2% to $388m, mainly due to increased cash tax payments from both higher taxes on declared dividends and increased taxable profits.\n \n \n ·\n Leverage ratio has improved to 1.3x from 1.8x in the prior period. Post period end, in July 2022, the Group prepaid $450m of outstanding external debt at HoldCo. The remaining debt at HoldCo is now $550m, falling due in May 2024.\n \n \n ·\n Our total customer base increased to 131.6 million, up 8.9%, with increased penetration across mobile data (customer base up 9.7%) and mobile money services (customer base up 19.7%). \n \n \n \n \n \n \n \n \n \n \n Alternative performance measures\n \n \n \n 1\n \n \n \n \n \n(Quarter...