Airtel Africa Plc has released its financial statements for the nine months ended 31st December 2022.
The financial report shows that the telecommunication company recorded $523 million as profit for the period, marking a 12.1% increase from $514 million during the comparable period last year.
See more details of the financial report below.
Revenue
2022 9-mth: $3.914 billion
2021 9-mth: $3.492 billion
Change: +12.1%
Expenses
2022 9-mth: $2.007 billion
2021 9-mth: $1.797 billion
Change: +11.7%
EBITDA
2022 9-mth: $1.916 billion
2021 9-mth: $1.702 billion
Change: +12.6%
Operating profit
2022 9-mth: $1.318 billion
2021 9-mth: $1.146 billion
Change: +15.1%
Pre-tax profit
2022 9-mth: $801 million
2021 9-mth: $864 million
Change: -7.3%
Net Profit after tax
2022 9-mth: $523 million
2021 9 mth: $514 million
Change: +1.7%
Basic Earnings Per Share
2022 9-mth: 12.5 cents
2021 9-mth: 11.7 cents
Change: +2.4%
Bottom line: The growth in pre-tax profits was due to the increase in revenue from voice, data, mobile money and other revenue despite inflationary pressure and slim in the household wallets. According to the financial statement, revenue includes inter-segment eliminations of $112 million for the nine months ended 31 December 2022 and $94 million for the prior period.
The telecom firm said revenue growth was impacted by the effect of some voice customers being barred in Nigeria and the loss of tower-sharing revenues following the sale of towers in Tanzania, Madagascar and Malawi in H2’22.
