Airtel Group customer bases grows to 152.7 million

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Airtel Group customer bases grows to 152.7 million
Olusegun Ogunsanya, outgoing Chief executive officer of Airtel Group.

Airtel Group has released its results for  fourth quota of the year 2024 in which its total customer base grew by 9.0% to 152.7 million.

The results also show that  mobile money subscriber growth of 20.7%  to reflect the company's  continued investment into distribution to drive

increased financial inclusion across its markets.

The transaction value increase of 38.2% in constant currency with annual transaction value of over $112bn in reported currency.

Increased transactions across the ecosystem reflects the enhanced range of offerings and increased customer adoption,

supporting constant currency ARPU growth of 8.6%.

On the other side,  continued network investment to support an enhanced customer experience and drive increased 4G coverage.

Across the group mobile services revenue grew by 19.4% in constant currency, driven by voice revenue growth of 11.9% and data revenue growth of 29.2%. Mobile Money revenue grew by 32.8% in constant currency, with a continued strong performance in East Africa.

EBITDA margins remained resilient at 48.8% despite the currency headwinds and inflationary pressure on our cost base. Constant currency EBITDA increased 21.3% with reported currency EBITDA declining 5.7% to $2,428m.

Quarter four's 24 EBITDA margins of 46.5% were impacted by the lower contribution of Nigeria following the Q4’24 naira devaluation and rising energy costs across a number of markets.

Loss after tax was $89m, primarily impacted by significant foreign exchange headwinds, resulting in a $549m exceptional loss net of tax following the Nigerian naira devaluation in June 2023 and Q4’24, and the Malawian kwacha devaluation in November 2023.

Olusegun Ogunsanya, Chief executive officer said,  “The consistent deployment of our ‘Win with’ strategy supported the acceleration in constant currency revenue

growth over the recent quarters which has reduced the impact of currency headwinds faced across most of our markets. This strong revenue performance is a reflection not only of the opportunity that is inherent across our markets, but also the resilience of our affordable offerings despite the inflationary pressure many of our customers have experienced."

"Facilitating this growth has been, and will remain, fundamental to our performance. The investment in our distribution to catalyse growth, and the technology required to support this growth has been key. Furthermore, our rigorous approach to de-risking our balance sheet and our capital allocation priorities has materially reduced

the risks that the currency de-valuation has had on our business. Key initiatives include the reduction of US dollar debt across the business and the ac-cumulation of cash at the HoldCo level to fully cover the outstanding debt due. We will continue to focus on reducing our exposure to currency volatility. At the beginning of March, we

launched our first buyback programme reflecting the strength of our financial position."

He added, "The growth opportunity that exists across our markets remains compelling, and we are well positioned to deliver against this opportunity. We will continue to focus on margin improvement from the recent level as we progress through the year."

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