Jump to content
DOSBODS
  • Welcome to DOSBODS

     

    DOSBODS is free of any advertising.

    Ads are annoying, and - increasingly - advertising companies limit free speech online. DOSBODS Forums are completely free to use. Please create a free account to be able to access all the features of the DOSBODS community. It only takes 20 seconds!

     

Airtel Africa


reformed nice guy
 Share

Recommended Posts

reformed nice guy

Looking to broaden my international coverage, I stumbled across Airtel Africa. The provide mobile coverage but also a payment system for transfers and small businesses.

They have large market share in 14 African countries and seem to be growing fast. I have copied their most recent quarterly results below.

Does anyone have any thoughts? Reasons against buying a speculative holding?

 

Airtel Africa plc

Quarterly results for the first quarter, ending 30 June 2019

26 July 2019

Key Highlights

·      Customer base grew by 9.3% to 99.7 Mn

·      Reported revenues increased to $ 795.9 Mn, up 6.9%, with constant currency growth of 10.2%. This was the 6th consecutive quarter of double-digit constant currency growth

·      Revenue growth of 10.2% in constant currency was driven by double-digit growth in Nigeria and East Africa, partially offset by a decline in revenue in Rest of Africa

·      Growth was recorded across business products. Constant currency revenue in Voice increased by 3.2%, data revenue increased
by 35.9% and Mobile Money revenue grew by 41.8%

·      Reported underlying EBITDA was $ 347.6 Mn, up 9.7%, while constant currency underlying EBITDA growth was 12.8%

·      Underlying EBITDA margin in reported currency was 43.7%, an increase of 111 bps, while there was an increase of 101 bps in constant currency terms

·      Free cash flow was $ 102.4 Mn, down 29.2% largely as a result of increased capex for network modernization and rollout of additional sites

·      EPS before exceptional items was $ 2.0 cents., down 46.8% largely as a result of an increase in the number of shares. Basic EPS was 4.1 cents

Alternative performance measures

GAAP measures

Description

Jun-19

Jun-18

Reported

Constant

Description

Jun-19

Jun-18

Reported

$ Mn

$ Mn

Change %

Change %

$ Mn

$ Mn

Change %

 

 

 

 

 

 

 

 

 

Revenue

795.9

744.5

6.9%

10.2%

Revenue

795.9

744.5

6.9%

Underlying EBITDA

347.6

316.9

9.7%

12.8%

Operating Profit

186.2

169.8

9.7%

Underlying EBITDA margin

43.7%

42.6%

111 bps

101 bps

Profit Before Tax

167.4

80.2

108.8%

EPS before exceptional items ($ cents)

2.0

3.8

(46.8%)

 

Net Income

132.2

150.6

(12.2%)

Free cash flow

102.4

144.5

(29.2%)

 

Basic Earnings Per Share (EPS)($ cents) (1)

4.1

10.8

(62.2%)

  • Agree 1
  • Informative 1
Link to comment
Share on other sites

They’ve been on my watchlist for a while. Not bought any yet. They have a lot of debt and decided I’d wait until they’d released some financials post their IPO.

Link to comment
Share on other sites

  • 5 months later...
Castlevania

Bought a small amount (4000 shares at a little over 27 pence each) this morning. I think they have too much debt but they’ve been battered of late and I like their mobile payments business.

  • Agree 1
Link to comment
Share on other sites

reformed nice guy
3 hours ago, Castlevania said:

Bought a small amount (4000 shares at a little over 27 pence each) this morning. I think they have too much debt but they’ve been battered of late and I like their mobile payments business.

It was the mobile payments part that piqued my interest.

I havent got a position but Im going to look again. 

Link to comment
Share on other sites

  • 2 months later...
Castlevania

Well after largely going nowhere for a good few weeks, these have finally caught a bid and are up over 50% in the past week. I should have bought more :)

Link to comment
Share on other sites

 Share

  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...