Airtel Africa reported a 5.3% revenue drop to $4.9bn for FY23 due to currency devaluations, with 9% customer base growth and 23.1% Q4 revenue growth.
Airtel Africa reported a 5.3% drop in revenue to $4.9bn for its full year ended March 2024, due to significant currency devaluations in Nigeria, Malawi, Zambia, and Kenya. The company saw growth in constant currency revenue, increasing by 20.9% for the full year, with growth accelerating to 23.1% in Q4'23. Despite the decline, Airtel Africa increased its customer base by 9% to 152.7 million, with data customers growing by 17.8% to 64.4 million and a 20.8% increase in data usage per customer. The company's EBITDA margin remained resilient at 48.8%.
May 09, 2024
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