The Airtel Africa PLC board has declared an interim dividend of 2.18 cents per share
Other financial highlights include:
Total customer base increased to 134.7 million, up 9.7%, with increased penetration across mobile data (customer base up 10.6%) and mobile money services (customer base up 24.0%).
ARPU growth of 7.2% in constant currency, largely driven by increased usage across voice, data and mobile money.
Mobile money transaction value increased by 31.7%, to an annualized value of $86.1bn in Q2'23.
Reported revenue grew by 12.9% in the half, to $2,565m, and 12.7% for Q2'23. Constant currency growth rate accelerated to 18.5% in Q2, supporting half year growth of 16.9%.
Strong revenue growth in constant currency was posted across all four reporting segments. Mobile Services revenue in Nigeria grew by 19.7%, in East Africa by 12.4% and in Francophone Africa by 12.1% (and across the Group by 15.6%, with voice revenue up by 12.0% and data revenue up by 22.1%). Mobile Money revenue grew by 29.5%, driven by growth of 31.5% in East Africa and 23.6% in Francophone Africa.
EBITDA increased by 14.3% to $1,255m in reported currency and by 17.8% in constant currency, with an EBITDA margin of 48.9%, an increase of 60 basis points in reported currency and 38 basis points in constant currency.
Profit after tax was $330m, lower by 1.5% due to higher foreign exchange and derivative losses of $160m. Profit after tax excluding foreign exchange and derivative losses was up by 30.4%.
EPS before exceptional items was 6.8 cents, a reduction of 9.5% largely as a result of higher foreign exchange and derivative losses of $160m. Basic EPS increased to 7.9 cents (up by 3.7%) as a result of deferred tax asset recognition in Kenya.
The board has declared an interim dividend of 2.18 cents per share (2 cents in H1'22).
In July 2022, the Group prepaid $450m of outstanding external debt at HoldCo. The remaining debt at HoldCo is now $550m, falling due in May 2024. The leverage ratio has fallen to 1.3x from 1.5x in the prior period.
Capex increased by 26.9% to $310m, in line with guidance, as they continue to invest for future growth. Additionally, they acquired spectrum in key markets including DRC and Kenya.
Inaugural sustainability report published today, reflecting the Group's commitment to documenting progress against its long-term sustainability strategy launched in October 2021.