Airtel Africa plc on Friday reported a 147.4 percent jump in annual profit after tax to $813 million, driven by strong revenue growth, margin expansion, and foreign exchange gains, as the telecommunications giant added a record number of new customers across its 14 African markets.
The company, which reported results for the year ended 31 March 2026, saw total revenue rise 29.5 percent to $6.415 billion, or 24.0 percent growth on a constant currency basis, with Chief Executive Sunil Taldar describing it as “a year of standout growth powered by strong fundamentals and disciplined execution.”
The customer base increased 10.5 percent to 183.5 million, marking the highest net additions to date, while data customers grew 14.8 percent to 84.2 million as smartphone penetration rose 4.7 percentage points to 49.5 percent.
Airtel Money continued to scale, with the customer base expanding 21.3 percent to 54.1 million, and the annualised total processed value surpassed $215 billion in the fourth quarter.
Underlying EBITDA grew 37.2 percent in reported currency to $3.162 billion, with margins improving 280 basis points to 49.3 percent and hitting an all-time high of 50.3 percent in the fourth quarter.
Nigeria delivered particularly strong constant currency revenue growth of 47.5 percent, benefiting from tariff adjustments, while Francophone Africa grew 17.1 percent.
Basic earnings per share rose to 18.6 cents from 6.0 cents in the prior period. The board recommended a final dividend of 4.26 cents per share, bringing the full-year total to 7.1 cents, a 9.2 percent increase.
Capital expenditure increased 31.9 percent to $884 million, with the company rolling out over 3,250 new sites and expanding its fibre network by approximately 3,200 kilometres to 81,900 kilometres.
The company said it remains committed to the planned Airtel Money initial public offering, though geopolitical developments have affected the anticipated timing, with the intention now to undertake the listing in the second half of 2026.
Taldar cautioned that recent increases in energy costs arising from ongoing geopolitical events would likely lead to cost inflation and near-term EBITDA margin pressure, but added that a strong growth outlook and enhanced focus on cost efficiencies would help limit the overall impact on the business.
