Full Year 2024 Airtel Africa PLC Earnings Call Transcript
Key Points
- Airtel Africa PLC (NSA:AIRTELAFRI) reported a 20.9% increase in constant currency revenue for the year.
- The company achieved a 9% growth in its customer base, reaching 153 million users.
- EBITDA grew by 21.3% in constant currency, demonstrating strong operational performance.
- The company has successfully launched 5G services in five markets, enhancing its technological capabilities.
- Airtel Africa PLC (NSA:AIRTELAFRI) has significantly reduced its foreign currency debt, improving its balance sheet resilience.
- The company faced severe currency devaluation in key markets, particularly Nigeria, impacting reported revenue and EBITDA.
- High inflation and rising energy costs have put pressure on the company's margins.
- The macroeconomic environment remains challenging, affecting consumer spending and operational costs.
- The devaluation of the Nigerian naira resulted in a significant foreign exchange loss, impacting the company's financial results.
- The company anticipates further impact from diesel price increases in Nigeria, which could affect future margins.
Good day, ladies and gentlemen, and welcome to the Airtel Africa full year results for the year ended March 2024. (Operator Instructions) Please note that this call is being recorded. I would now like to turn the conference over to Segun Ogunsanya. Please go ahead, sir.
Thank you. Hello, everyone and thank you all for joining us today. I have with me Jaideep, Group CFO; Alastair, who is Head of Investor Relations; and Sunil, who is incoming Group CEO and has joined us on this call. Let me give you some very brief highlights over the last year and provide an update on the strategy, before I hand over to Jaideep, whoâs going to run through the financial results in detail.
Over the last year, the macroeconomic environment has been particularly challenging in many of our markets. However, we focus on our strategy has ensured strong underlying operating momentum which has revealed a very resilient performance across all of our regions. This has reported
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