Airtel Malawi Plc has released its half-year financial results for the period ending June 30, 2024, reporting a 12.3% increase in its customer base to 7.6 million, while profit after tax rose by 16.5% from K18,285 million to K21.331 million.
The results show that the company’s mobile data customers reached 2.5 million, with the average revenue per user (ARPU) increasing by 23.6% to K2,743. Revenue grew by 37.1% to K117.857 million, driven by broad-based growth across all business segments.
Data traffic surged 41%, with data usage per customer at 5.3 GB/month. Airtel Malawi’s EBITDA has in the past six months increased by 25.9% to K51.237 million, with an EBITDA margin of 43.5.
The company’s capital expenditure increased by 178.1% to K15.482 million, demonstrating its commitment to investing in future growth.
In the report, the company said despite economic challenges, it remains optimistic about the medium-term growth opportunities in Malawi, driven by population growth and increasing demand for connectivity.
The company cited challenges ahead, including FX volatility, foreign currency scarcity, and unfavourable agricultural output. Meanwhile, no interim dividend was declared due to economic uncertainty.
