Sunday, February 06, 2022

Airtel records strong growth for yesr end 2021 - ITREALMS

Airtel has recorded strong growth across all key metrics, with Nigeria PSB approval in principle to unlock further mobile money opportunity, reports ITREALMS.

This was contained in the official report by Airtel for the yearned 31 December 2021 made available to ITREALMS.

Some of the highlights include that the reported revenue grew by 21.7 per centŕ to $3,492m.

According to the company  constant currency underlying revenue grew by 24.8 per cent just as it was recorded across all regions with Nigeria up by 29.0 per cent; East Africa up by 24.4 per cent and Francophone Africa up 19.0 per cent.

In addition this growth was across all key services, with revenue in voice up 16.1 per cent and in data and mobile money both up 37.2 per cent.

Further the Airtel year end report showed that.

"Underlying EBITDA was $1,703m, growing by 31.3 per cent in reported currency with an EBITDA margin of 48.8 per cent, an increase of 326 basis points led by both revenue growth and improved operational efficiencies.

"Operating profit grew by 43.1 per cent to $1,146m in reported currency.

:Profit after tax almost doubled to $514m as higher profit before tax more than offset associated tax charges.

Basic EPS was 11.7 cents, an increase of 113.8%, largely as a result of higher profit. EPS before exceptional items increased to

11.5 cents, up from 5.0 cents in the previous period.

"Operating free cash flow grew by 42.2% to $1,271m and net cash generated from operating activities was up 23.1% to $1,499m.

"Leverage ratio improved to 1.4x from 2.1x in the previous period.

"The customer base expanded to 125.8 million, growing by 5.8%, with increased penetration across mobile data (customer base up 11.1%) and mobile money services (customer base up 19.6%). Customer base growth was affected by the NIN/SIM regulations in Nigeria but returned to growth in this region in the third quarter; excluding Nigeria the customer base grew by 12.0%."

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