Business
Q1 25 Results
Q1 25 Results.
About this update from Airtel Africa Plc
[{"type":"text","content":"\n\n \nAirtel Africa plc\nResults for quarter ended 30 June 2024\n25 July 2024\nOperating highlights\n· Total customer base grew by 8.6% to 155.4 million. Data customer penetration continues to rise, driving a 13.4% increase in data customers to 64.4 million. Data usage per customer increased by 25.1% to 6.2 GBs, with smartphone penetration increasing 4.7% to reach 41.7%. \n· Mobile money subscriber growth of 14.9% reflects our continued investment into distribution to support increased financial inclusion across our markets. Transaction value increased by 28.7% in constant currency with annualised transaction value of $120bn in reported currency.\n· Data ARPU growth of 9.6% and mobile money ARPU growth of 8.8% in constant currency continued to support overall ARPU's which increased 9.3% YoY.\n· Customer experience remains core to our strategy with sustained network investment driving increased capacity and coverage. Data capacity across our network has increased by 33% with the rollout of almost 3,000 sites and over 5,600 kms of fibre.\n· Launched a comprehensive cost efficiency programme to identify specific cost reduction initiatives across the Group. Steps taken include the optimisation of network utilisation and design, introducing energy saving initiatives to reduce network costs and the renegotiation of key contracts, whilst ensuring future growth ambitions remain protected. We anticipate the full benefit of this programme to accrue over the year ahead.\nFinancial performance\n· Revenue in constant currency grew by 19.0% in Q1'25, driven by 33.4% growth in Nigeria and 22.3% growth in East Africa, respectively. Reported currency revenues declined by 16.1% to $1,156m reflecting the impact of currency devaluation, particularly in Nigeria. Across the Group mobile services revenue grew by 17.4% and Mobile Money revenue grew by 28.4% in constant currency.\n· A substantial increase in fuel prices across our markets and the lower contribution of Nigeria to the Group after the naira devaluation contributed to a decline in EBITDA margins to 45.3% from 49.5% in Q1'24 and 46.5% in Q4'24. However, constant currency EBITDA increased 11.3% whilst reported currency EBITDA declined by 23.3% to $523m.\n·&n...