Airtel Africa says its customer base grew by 8.7 per cent to 166.1 million in the year ended March 31, 2025, driven by strong operational performance across its markets.
Airtel Africa made this known in its results for financial year ended March, 31, 2025.
The company said that this growth underscored the company’s accelerating growth and sequential margin expansion throughout the fiscal year.
It said the company’s focus on digital inclusion further supported a 4.3 per cent rise in smartphone penetration to 44.8 per cent.
It added that data customers saw a substantial increase of 14.1 per cent, reaching 73.4 million.
The report revealed that the surge in data consumption led to a significant 30.4 per cent increase in data usage per customer, reaching 7.0 GB.
This in turn supported a 15.4 per cent growth in data ARPU (average revenue per user) in constant currency.
It noted that investments in the Airtel money platform continued to yield positive results.
“This resulted in a 17.3 per cent increase in mobile money subscribers, reaching 44.6 million, and an 11.4 per cent growth in mobile money ARPU in constant currency.
“The transaction value for Airtel money in Q1’25 saw a significant surge of 34 per cent in constant currency, reaching an annualised value of $145 billion,
“Strategic network investments were also a key focus. This included the rollout of 2,583 new sites and approximately 3,300 kilometres of fibre, enhancing data capacity across the region and supporting an improved customer experience,” it said.
According to the report, financially, Airtel Africa reported revenues of $4,955 million.
It noted that while this represented a substantial 21.1 per cent growth in constant currency, reported currency revenues experienced a slight decline of 0.5 per cent due to currency devaluation.
The report noted that strong operational execution and tariff adjustments in Nigeria fueled acceleration in revenue growth.
It noted that this showed robust 23.2 per cent increase in Q4’25 in constant currency and 17.8 per cent in reported currency as currency headwinds abated.
It said that across the group, mobile services revenue expanded by 19.6 per cent in constant currency, driven by a 10.6 per cent increase in voice revenue and a significant 30.5 per cent increase in data revenue.
The report said that mobile money revenue also demonstrated strong growth at 29.9 per cent in constant currency.
“For the year ending March 31, 2025, underlying EBITDA (earnings before interest, taxes, depreciation, and amortisation) amounted to $2,304 million, a decrease of 5.1 per cent in reported currency.
“Underlying EBITDA margins stood at 46.5 per cent, compared to 48.8 per cent in the previous year, primarily influenced by higher fuel prices and a lower contribution from Nigeria.
“However, a more stable operating environment and the positive impact of the company’s cost efficiency programme led to an improvement in underlying EBITDA margins.
“This is from 45.3 per cent in Q1’25 to 47.3 per cent in Q4’25,” it said.
According to the report, profit after tax showed a significant improvement, reaching $328 million compared to a loss of $89 million in the prior period, which significantly impacted by derivative and foreign exchange losses, predominantly in Nigeria.
The report said basic EPS (earnings per share) was 6.0 cents, a notable improvement from the negative 4.4 cents in the prior period, mainly due to reduced derivative and foreign exchange losses in the current period.
It said that EPS before exceptional items decreased from 10.1 cents in the prior period to 8.2 cents, largely due to increased finance costs related to tower contract renewals.
This, it said, had a neutral to positive effect on cash flows and the delayed impact of prior period currency devaluation.
“Regarding capital allocation, capex (capital expenditure) of $670 million was below the projected guidance, primarily due to the deferral of data centre investments.
“The capex guidance for the upcoming year is set between $725 million and $750 million, reflecting the company’s ongoing commitment to investing in future growth.
“Airtel Africa has actively worked to reduce its foreign currency debt exposure, successfully paying down $702 million over the past year,” it said.
According to the report, 93 per cent of its operating company (OpCo) debt (excluding lease liabilities) is now denominated in local currency, an increase from 83 per cent in the previous year.
It said that leverage increased from 1.4x to 2.3x, primarily due to a $1.3 billion rise in lease liabilities stemming from tower contract renewals.
The report noted that lease-adjusted leverage also increased from 0.7x in the prior period to 1.0x as of 31 March 2025, reflecting the impact of lower lease-adjusted underlying EBITDA due to currency devaluation and an increase in lease-adjusted net debt.
It said that the board proposed a final dividend of 3.9 cents per share, resulting in a total dividend of 6.5 cents per share for the full year, representing a 9.2 per cent growth from the previous year and aligning with the company’s dividend policy.
According to the report, Airtel Africa returned $120 million to its shareholders through share buyback programmes during the year.
Commenting, the Chief Executive Officer, Mr Sunil Taldar, highlighted the strong operating performance driven by the company’s strategic focus and continuous investments in network and digital platforms.
He highlighted the 20 per cent increase in smartphone customers to 74.4 million and the subsequent 47.5 per cent surge in data traffic.
Taldar emphasised the pivotal role of Airtel Money in advancing financial inclusion, with a 17.3 per cent growth in customers to 44.6 million and a substantial 32 per cent constant currency increase in transaction value to $136 billion.
“Improving operating environment and effective execution are key factors contributing to the robust financial momentum, with constant currency revenue growth peaking at 23.2 per cent in Q4’25.
“Partly driven by tariff adjustments in Nigeria,” Taldar said.
He emphasised the 200 basis points expansion in underlying EBITDA margins from the first to the fourth quarter of FY 2025, reaching 47.3 per cent, and the company’s ongoing commitment to further margin improvements, contingent on macroeconomic stability.
Regarding the anticipated Airtel Money IPO, Taldar affirmed the significant progress being made and the company’s continued commitment to the objective, with a listing event expected in the first half of calendar year 2026, subject to evolving market conditions.
He acknowledged the recent stability in the operating environment while remaining mindful of potential global developments.
Taldar reiterated the company’s dedication to its strategy of enhancing the lives of its customers and supporting economic prosperity across its operating markets.
NAN
