Airtel Africa Plc.’s (AIRTELAFRI) recently released H1:2021 was broadly positive, and in line with our expectations. A comparatively stronger revenue performance in the second quarter (+14.22% YoY) lifted overall revenue growth in the first half to 10.67% YoY, with revenue settling at USD1.81bn (NGN700.59bn). Topline growth reflected a strong performance across its operating subsidiaries in Nigeria (+20.20% YoY), East Africa (+21.90% YoY) and Francophone Africa (+4.40% YoY). Excluding the impact of currency devaluation from Nigeria (6.50%), Zambia (51.00%) and Kenya (4.50%), groupwide revenue growth would have been reported at 16.40% YoY. Revenue performance was supported by improved operating metrics during the period. Customer growth was reported at 12.02% YoY (with net YoY customer additions of 12.49 million customers), while average revenue per user (ARPU) inched higher by 6.80% YoY to USD2.80 per month.
Click on the link below to access the full report:
