Airtel Africa plc has announced its results for the nine months ended December 31, 2024, showcasing a strong performance driven by growth in data and mobile money adoption.
The company’s total customer base increased by 7.9% to 163.1 million, with data customer penetration rising by 13.8% to 71.4 million. Data usage per customer surged by 32.3% to 6.9 GBs, while smartphone penetration grew by 5.2% to 44.2%.
Airtel Africa’s mobile money business also saw significant growth, with an 18.3% increase in mobile money subscribers to 44.3 million. Transaction value in Q3’25 rose by 33.3% in constant currency, with an annualized transaction value of $146 billion.
The company’s revenue grew by 20.4% in constant currency to $3,638 million, driven by strong growth in mobile services revenue, which increased by 18.8% in constant currency. Data revenue grew by 29.5%, while mobile money revenue rose by 29.6% in constant currency.
Airtel Africa’s CEO, Sunil Bharti Mittal, commented: “We have delivered an improvement in both operating and financial performance in the last quarter, driven by our refined strategy focused on delivering great customer experience across all touchpoints.”
The company remains committed to investing for future growth, expanding its distribution and network to capture the significant growth opportunities in its markets.
Airtel Africa’s financial performance was impacted by currency devaluation, with EBITDA declining by 11.9% in reported currency to $1,681 million. However, the company’s cost efficiency program has started to yield results, with EBITDA margins expanding from 45.3% in Q1’25 to 46.9% in Q3’25.
The company’s profit after tax for the nine months was $248 million, impacted by exceptional derivative and foreign exchange losses. Basic EPS stood at 4.4 cents, compared to a negative 1.6 cents in the prior period.
Airtel Africa has also announced the commencement of a second share buyback program, which will return up to $100 million to shareholders. This reflects the company’s confidence in its growth potential and the strength of its balance sheet.
