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Airtel Africa marks FTSE 100 admission with 25% revenue boost

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Airtel Africa, marked its membership of the FTSE 100 share listing this week with revenue up almost 25% and earnings up 34%.

The company, majority owned by India’s Bharti Airtel, said its revenue in the nine months to 31 December 2021 was US$3.49 billion, compared with $2.85 billion in the same period of 2020.

The increase was 22.5% in reported currency, but 24.8% when working in constant currency.

Underlying Ebitda was $1.7 billion in the first three quarters of the current financial year, compared with $1.29 billion in the same period 12 months earlier.

CEO Segun Ogunsanya said: “I am particularly pleased with developments in Nigeria, where in November we received approval in principle for both a payment service bank – mobile money – licence and a super-agent licence.”

Airtel Africa, whose shares were floated on the London Stock Exchange (pictured) in June 2019, was admitted to the FTSE 100 list on Monday this week. This is the list of the largest 100 qualifying companies on the London Stock Exchange, and membership of the FTSE list is often seen as an advantage my investors.

Ogunsanya said on the company’s admission to the FTSE 100: “This achievement has been on the back of all the hard work and success achieved by everyone at Airtel Africa. We look forward to growing the company further as we continue to sustainably bridge the digital divide, expand financial inclusion and meet the evolving needs of our customers.”

Meanwhile Airtel Africa has promoted Emeka Oparah, its director of corporate relations for Airtel Nigeria, to the same role across the whole group. Oparah will look after external communications, media relations strategy, corporate reputation, public relations and corporate social responsibility.

 

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