Airtel Africa Plc has reported an 8.7% year-on-year increase in its total customer base, reaching 166.1 million subscribers for the financial year ending March 31, 2025 driven by a strategic push for digital and financial inclusion across its markets.
In its audited full-year financial results, the company’s CEO, Sunil Taldar, said the growth was underpinned by a focus on expanding smartphone usage, which rose by 4.3 percentage points to 44.8% penetration. Data subscribers also surged by 14.1%, bringing the total number of data users to 73.4 million, with average data usage per customer rising 30.4% to 7.0GB resulting in 15.4% growth in data ARPU (Average Revenue Per User) in constant currency.
During the fourth quarter alone, Airtel Africa recorded a 34% rise in transaction value, bringing its annualised mobile money transactions to a staggering $145 billion, reflecting increased trust in its mobile money ecosystem.
Taldar noted that this performance was supported by continued investments in infrastructure, including the deployment of 2,583 new sites and 3,300 km of fibre across its operating regions aimed at boosting connectivity and data capacity.
Revenue and Earnings Snapshot
Airtel Africa posted $4.96 billion in revenue for the year, reflecting a 21.1% rise in constant currency terms. However, due to adverse currency movements, especially in Nigeria, revenue dipped by 0.5% in reported currency. In the final quarter, the company recorded 23.2% revenue growth in constant currency and 17.8% growth in reported currency as FX pressures eased.
Mobile services revenue across the group rose 19.6%, driven by a 10.6% increase in voice revenue and a 30.5% surge in data revenue, while mobile money revenue grew 29.9%, all in constant currency.
Underlying EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) for the year stood at $2.3 billion, marking a 5.1% decline in reported currency. This was largely due to rising operational costs, including higher fuel prices and a reduced earnings contribution from Nigeria. However, EBITDA margins improved over the year rising from 45.3% in Q1 to 47.3% in Q4 as a result of cost optimisation efforts and a more stable business environment.
Profit Recovery and Dividends
Airtel Africa bounced back from a $89 million loss last year to post a $328 million profit after tax, driven by fewer foreign exchange and derivative losses, particularly in Nigeria. Basic earnings per share (EPS) improved to 6.0 cents, compared to -4.4 cents a year earlier. EPS before exceptional items declined slightly to 8.2 cents, reflecting higher finance costs related to renewed tower contracts.
In line with its dividend policy, the Board proposed a final dividend of 3.9 cents per share, bringing the total payout for the year to 6.5 cents, a 9.2% increase from the previous year. The company also returned $120 million to shareholders through share buybacks during the year.
CEO’s Outlook
Reflecting on the results, Taldar commented:
“This year’s strong performance underscores the effectiveness of our growth strategy. By investing in digital and financial infrastructure, we’ve enhanced customer experience, boosted data consumption, and expanded financial inclusion. With a 20% increase in smartphone users to 74.4 million and a 47.5% increase in data traffic, our platform is reaching more people than ever before.”
He added that Airtel Money continues to evolve as a critical driver of financial access, with the mobile money customer base expanding 17.3% to 44.6 million, and the value of transactions growing 32% in constant currency.
“Despite global uncertainties, our strong capital structure and disciplined investments in capacity and digital innovation position us well for sustained growth. We remain committed to transforming lives and driving prosperity across our African markets,” he concluded.
