Airtel Africa grows annual revenue by 15.9%

Telecommunications giant Bharti Airtel Limited recently released its audited consolidated IFRS results for the fourth quarter and year ending 31 March with overall customer base standing at 252 million, across 20 countries.

Highlights for the quarter showed that, total revenues at US$ 14 937 million, up by 20.0 per cent year-on-year; India and South Asia revenues at US$ 10 799 million, up by 11.6 per cent year-on-year; and Africa revenues at US$4 137 million, up by 43.7 per cent year-on-year. In Rupee terms, Africa revenue growth is 51.5 per cent.

The report revealed that despite the national strike which took place for nine days in Nigeria, Africa’s revenues continued its growth trend. “Consolidated EBITDA margin was sustained at a robust level of 33.3 per cent benefiting from scale and cost efficiencies.

Revenue growth for Africa improved to 26.5 per cent (FY 11: 21.9 per cent). The Consolidated Net Income for the year at US$ 890 million (FY 11: US$ 1,325 million) was impacted by higher costs on account of 3G license fee amortisation (US $135 Mn), 3G interest costs (US$ 95 million), forex fluctuation losses (US$ 87 Mn) and tax provisions (US$ 82 million). The Net Debt – Equity ratio is at 1.29 (FY11: 1.23) and Net Debt – EBITDA ratio improved to 2.56 (FY11: 2.95),” the company said in a statement.

Reacting to the financial statement, Sunil Bharti Mittal, Chairman and Managing Director, Bharti Airtel Limited, said: “I am pleased that the year has ended with the Company’s customer base crossing 250 million across twenty countries, the twentieth country being Rwanda”.

Segun Adekoye