Airtel Africa said revenue has increased by 9.9 per cent to US$2.5bn for the nine-month period ended 31 December 2019, with Q3’20 revenue growth increasing to 12.8 per cent
In constant currency terms, revenue grew by 12.4 per cent during the nine-month period ended 31 December 2019 and 14.2 per cent in Q3’20. This was the eighth consecutive quarter of double-digit constant currency growth.
Growth was recorded across all services, with revenue in voice, data and mobile money up by 3.9 per cent, 39 per cent and 40.4 per cent respectively in constant currency.
Underlying EBITDA was US$1.2bn for the nine-month period, up 13.2 per cent, while constant currency underlying EBITDA growth was 15.5 per cent over the same period. The EBITDA margin in reported currency was 44.3 per cent, an increase of 129bps, while there was an increase of 121 bps in constant currency terms.
Operating profit amounted to US$657mn, up 21.3 per cent in reported currency and 23.7 per cent in constant currency, as a result of strong revenue growth, while operating expenditures as a percentage of revenue remained broadly stable.
Profit after tax was US$331mn, down by 2.2 per cent due to one-off deferred tax recognition in Nigeria in the nine-month period ending 31 December 2018.
Basic EPS was US$8.6¢, down 53.6 per cent, due to the increase in the number of shares issued. If all the shares as at 31 December 2019 had been issued on 1 April 2018, the restated Basic EPS for nine months ended 31 December 2019 would have been US$8.1¢ and nine months ended 31 December 2018 would have been US$8.1¢.
The customer base grew by 9.4 per cent to 107.1mn from 97.9mn on 31 December 2018. Data subscribers increased by 12.4 per cent to 32.9mn from 29.3mn in 2018.
