Airtel Africa Plc has announced a strong recovery in its full-year financial performance as profit after tax rose from $89 million in the previous financial year to $328 million for the fiscal year ended March 31, 2025.
The performance was driven by double-digit growth in data and mobile money services, supported by strategic investments and an improving macroeconomic environment.
According to the financial statement released on May 8, 2025, revenue grew by 21.1% in constant currency to $4.96 billion, although it declined marginally by 0.5% in reported currency due to persistent currency devaluation pressures across key markets.
The company reported a strong fourth quarter with revenue growth peaking at 23.2% in constant currency and 17.8% in reported terms. This reflects easing currency headwinds and effective execution of tariff adjustments, particularly in Nigeria.
The telecom operator’s total customer base expanded by 8.7% to 166.1 million, with smartphone penetration improving by 4.3 percentage points to 44.8%.
Data customers rose by 14.1% to 73.4 million while data usage per customer increased by 30.4% to 7.0GB, supporting data Average Revenue Per User (ARPU) growth of 15.4% in constant currency.
The company recorded a 17.3% increase in mobile money subscribers to 44.6 million, and mobile money revenue surged 29.9% in constant currency.
In the fourth quarter alone, the transaction value jumped 34% with annualised transaction volume reaching $145 billion.
The expansion of the Airtel Money agent network and digital service offerings contributed significantly to financial inclusion across its markets.
Underlying EBITDA stood at $2.30 billion, down 5.1% in reported currency but representing a margin of 46.5%, slightly lower than the prior year’s 48.8%.
Despite margin pressure from rising fuel costs and reduced contribution from Nigeria, EBITDA margins improved sequentially, rising from 45.3% in Q1’25 to 47.3% in Q4’25, supported by cost optimisation measures and a more stable operating environment.
In terms of capital allocation, capital expenditure for the year reached $670 million, below earlier guidance due to deferred data centre investments.
For FY26, the Group has projected a capex range of $725 million to $750 million. The company also reduced its foreign currency debt by $702 million, increasing local currency exposure to 93%, up from 83% a year ago.
Lease-adjusted leverage increased from 0.7x to 1.0x following $1.3 billion in lease liabilities from tower contract renewals.
The Board declared a final dividend of 3.9 cents, bringing the total dividend for the year to 6.5 cents per share, representing a 9.2% increase in line with the Group’s dividend policy.
Also, $120 million was returned to shareholders via share buybacks during the reporting period.
Commenting on the results, Sunil Taldar, CEO of Airtel Africa, stated: “We have reported another strong operating performance as our strategy continues to deliver against the significant opportunity that exists across our markets.
“The focus on our refreshed strategy has driven improvements in our digital platforms and customer experience, enabling increased digital and financial inclusion across our footprint.”
He also confirmed that preparations for the Airtel Money IPO remain on track with a potential listing anticipated in the first half of 2026, subject to market conditions.
Airtel Africa’s financial and operational performance reaffirms its commitment to long-term growth, network expansion, and digital inclusion across its markets, particularly in high-growth regions such as Nigeria, East Africa and Francophone Africa.
