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Airtel Nigeria Is Growing Well

The Africa's TelFintechs - Airtel Africa MoMO Raises $200M At $2.65B Valuation - Tekedia

Good one for Airtel Africa, Nairametrics reports: "Airtel Africa Plc has posted a revenue growth of 21.9% in its Nigeria business to stand at $1.55 billion in 2020, with 23.5% growth in East Africa, and 10% in Francophone Africa. The telco reported an increase of 14.2% in its gross revenue in its 2020 earnings."

Highlights below.

• Reported revenue grew by 14.2% to $3,908m, with Q4’21 reported revenue growth of 15.4%.
• Constant currency underlying revenue growth was 19.4%, with Q4’21 growth of 21.7%. Growth was recorded across all
regions: Nigeria up 21.9%, East Africa up 23.5% and Francophone Africa up 10%; and across key services, with revenues
for voice up 11.0%, data up 31.2% and mobile money up 35.5%.
• Underlying EBITDA was $1,792m, up 18.3% in reported currency, and growing 25.2% in constant currency.
• Underlying EBITDA margin was 46.1%, adding 181 basis points(210 basis points higher in constant currency). Underlying
EBITDA margin for Q4’21 was 47.7%, an increase of 389 basis points in constant currency.
• Operating profit increased 24.2% to $1,119m in reported currency, and by 32.8% in constant currency.
• Free cash flow was $647m, up 42.8% on the prior year.
• Basic EPS was 9.0 cents, down 12.6%, largely due to prior year exceptional items and a one-off derivative gain. Excluding
these, basic restated EPS rose 44.5%. EPS before exceptional items was 8.2 cents.
• Our customer base grew by 6.9% to 118.2 million, with increased penetration across mobile data (customer base up
14.5%) and mobile money services (customer base up 18.5%). The recent slowdown in customer base growth has been
due to new SIM registration regulationsin Nigeria.
• The Board has recommended a final dividend of 2.5 cents per share, making the total dividend for FY21 4.0 cents per
share