Airtel Africa Plc has reported a pre-tax profit of $360 million for the first quarter of 2026, marking a significant increase from the $280 million recorded in the same period last year. The company attributed this growth to a robust performance across its key markets, particularly in Nigeria and East Africa.
Revenue Growth Driven by Data and Mobile Money
Group revenue rose by 18% year-on-year to $1.4 billion, with mobile data revenue surging by 25% and mobile money revenue increasing by 30%. The company's customer base expanded by 10% to 150 million subscribers, driven by increased adoption of data services and financial inclusion initiatives.
According to Airtel Africa's CEO, Segun Ogunsanya, "Our strong Q1 performance reflects the successful execution of our strategy to deepen network coverage and enhance digital services. We are particularly pleased with the growth in mobile money, which is transforming lives across the continent."
Regional Performance Highlights
In Nigeria, the company's largest market, revenue grew by 20% to $600 million, supported by a 15% increase in data customers. East Africa also performed well, with revenue up 16% to $400 million, driven by strong demand for mobile money services in Kenya and Tanzania.
The company's operating expenses rose by 12% to $800 million, mainly due to increased investments in network infrastructure and energy costs. However, the EBITDA margin improved to 52% from 50% in the prior year, reflecting operational efficiencies.
Financial Position and Outlook
Airtel Africa's net debt stood at $3.2 billion, down from $3.5 billion at the end of 2025, as the company continued to reduce leverage. The board declared an interim dividend of $0.03 per share, unchanged from the previous year.
Looking ahead, the company expects to maintain its growth trajectory, with a focus on expanding 4G and 5G networks and deepening mobile money penetration. "We remain confident in our ability to deliver sustainable value for shareholders," Ogunsanya added.
Analysts at Renaissance Capital noted that the results exceeded expectations, citing strong revenue growth and margin expansion. They maintained a 'buy' rating on the stock, with a target price of $12.50.
