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Airtel Africa Plc (AAFRF) Q3 2024 Earnings Call Transcript

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Airtel Africa Plc (OTCPK:AAFRF) Q3 2024 Earnings Call Transcript February 1, 2024 7:00 AM ET

Company Participants

Olusegun Ogunsanya – MD, CEO & Director

Jaideep Paul – CFO & Director

Conference Call Participants

John Karidis – Deutsche Numis

Rohit Modi – Citi

Faisal Al Azmeh – Goldman Sachs

Jonathan Kennedy-Good – Prescient Securities

Madhvendra Singh – HSBC

Oluwaseun Arambada – FBNQuest

Cesar Tiron – Bank of America

Linet Muriungi – Absa Bank Kenya

Operator

Good day, ladies and gentlemen, and welcome to Airtel Africa’s 9 month ’24 Results. [Operator Instructions] Please note that this event is being recorded.

I will now hand the conference over to Segun Ogunsanya. Please go ahead, sir.

Olusegun Ogunsanya

Thank you for joining us on today’s call. And as always, joined by our CFO, Jaideep; and Deputy CFO and the Head of Investor Relations, Pier. We’re going to be asking you a question very shortly. But first, I’d like to provide a brief overview of the performance over the last 9 months.

We have reported a strong operating performance in constant currency with revenue growth of 20%, leading to reported revenues of $3.86 billion over the 9 month period. In Q3, third quarter, we saw constant currency revenue growth accelerate from 19% in Q2 to 21% in Q3, reflecting continued success in our strategy across all of our 3 regions. This strong top line performance, combined with further cost efficiencies, have driven EBITDA 21.9% in constant currency terms, leading to an industry-leading EBITDA margin of 49.4% for the group. Given the strength of this performance to date and according leverage, the board has approved a share buyback scheme of up to $100 million starting in early March 2024 over a 12-month period.

On a reported currency basis, our results have been impacted by the recent currency

Read the full article here

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