Yahoo Finance

• Revenue: $1.27 billion in Q3, 21.3% growth in constant currency.

• Reported Currency Revenue Growth: 2.5% in Q3.

• Nigeria Revenue Growth: 35% in constant currency over nine months.

• East Africa Revenue Growth: 23% in constant currency.

• Francophone Revenue Growth: 10.2% in constant currency.

• Mobile Services Revenue Growth: 18.8% in constant currency over nine months.

• Voice Revenue Growth: Almost 10% over the period.

• Data Revenue Growth: Over 31% in Q3.

• Mobile Money Revenue Growth: Over 31% in constant currency in Q3.

• Transaction Value: Increased over 30% to $146 billion.

• EBITDA: $1.68 billion for nine months, 15.3% growth in constant currency.

• EBITDA Margin: 46.9% in Q3, a 160-basis-point recovery from Q1.

• Basic EPS: $0.036 for the quarter ended December 31.

• EPS Before Exceptionals: $0.013 for the quarter ended December 31.

• Local Currency Debt: 92% of OpCo debt in local currency as of December.

• Leverage: 2.4 times, increased due to tower lease agreements.

• Lease Adjusted Leverage: 1.1 times.

• Share Buyback Program: Up to $100 million launched in December.

• Warning! GuruFocus has detected 9 Warning Signs with AAFRF.

Release Date: January 30, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Airtel Africa PLC (AAFRF) reported a strong constant currency revenue growth of 21.3% in the latest quarter, showing an acceleration from previous quarters.

• The company saw a significant increase in mobile money customer base by 18% to over 44 million, reflecting its focus on financial inclusion.

• In Nigeria, Airtel Africa PLC (AAFRF) achieved a remarkable constant currency growth of almost 35%, indicating strong market performance.

• The mobile services segment experienced a sustainable growth with a constant currency revenue increase of 18.8% over the first nine months.

• Airtel Africa PLC (AAFRF) has successfully reduced its foreign currency debt, with approximately 92% of OpCo debt now in local currency, mitigating currency volatility risks.

Negative Points

• Reported currency revenue growth was only 2.5% in the third quarter due to foreign exchange headwinds.

• The company faces challenges with currency volatility impacting financial results, despite some recent currency appreciations.

• Leverage for the group increased to 2.4 times, primarily due to the extension of tower lease agreements.

• There is uncertainty regarding the impact of the approved price increases in Nigeria, with potential competitive and demand elasticity concerns.

• In Francophone Africa, there was a slight dip in margins due to higher marketing spends, despite revenue growth acceleration.