Business
Q1 24 Results
Q1 24 Results.
About this update from Airtel Africa Plc
[{"type":"text","content":"\n\n\n\nAirtel Africa plc\nResults for the quarter ended 30 June 2023\n27 July 2023\n\nHighlights\nOperating key performance indicators (KPIs)\n· Total customer base grew by 8.8% to 143.1 million, as the penetration of mobile data and mobile money services continued to rise, driving a 22.0% increase in data customers to 56.8 million and a 24.3% increase in mobile money customers to 34.3 million.\n· Constant currency ARPU growth of 11.1% was largely driven by increased usage across voice, data and mobile money.\n· Mobile money transaction value increased by 47.2% in constant currency, with Q1'24 annualised transaction value of $107bn in reported currency.\nFinancial performance\n· Revenue in constant currency grew by 20.4%, with reported currency revenues up by 9.6% to $1,377m.\n· While each segment's reported currency revenue growth was impacted by currency devaluation, they all delivered double-digit constant currency revenue growth. Across the Group mobile service revenue grew by 19.1% in constant currency, driven by voice revenue growth of 11.9% and data revenue growth of 29.8%. Mobile money revenue grew by 31.2% in constant currency.\n· EBITDA increased by 22.5% in constant currency, and 11.1% in reported currency to $682m, with an EBITDA margin of 49.5%, reflecting a 69bps margin improvement despite inflationary cost pressures.\n· Profit after tax was negative ($151m) driven largely by a foreign exchange loss of $471m recorded in finance cost before tax and $317m after tax because of the devaluation of the Nigerian naira in the month of June 2023. This impact has been classified as a non-operating exceptional item.\n· EPS before exceptional items was 3.9 cents, an improvement of 3.3%. EPS before exceptional items and excluding foreign exchange and derivative losses was 6.0 cents, up by 16.2%. Basic EPS at negative (4.5 cents) compared to 4.4 cents in the prior period, impacted by $317m net exceptional loss on account of naira devaluation in the month of June 2023.\nCapital allocation\n· Capex at $140m is flat compared to the prior period as we continue to invest for future growth.\n· In July 2022, the Group prepaid $450m of outstanding external debt at HoldCo. The remaining debt at...