Airtel Africa Plc (AAFRF) Q3 2025 Earnings Call Transcript

2025-01-30 12:43:11 ET

Airtel Africa Plc (AAFRF)

Q3 2025 Earnings Conference Call

January 30, 2025 8:00 AM ET

Company Participants

Sunil Taldar – Chief Executive Officer

Jaideep Paul – Chief Financial Officer

Conference Call Participants

Rohit Modi – Citibank

John Karidis – Deutsche Bank

Taj Ibrahim – Chapel Hill Denham

Jonathan Kennedy-Good – Prescient Securities

Linet Muriungi – Absa Bank

Tracy Kivunyu – SBG Securities

Madhvendra Singh – HSBC

Myuran Rajaratnam – MIBFA

Ali Hussain – FIM Partners

Rohit Modi – Citibank

Presentation

Operator

Good afternoon, ladies and gentlemen, and welcome to the Airtel Africa Nine Month 2025 Results Update. All participants will be in listen-only mode. There will be an opportunity to ask questions later during the conference. [Operator Instructions] Please note that this call is being recorded.

I would now like to turn the conference over to Sunil Taldar. Please go ahead, sir.

Sunil Taldar

Thank you. Good evening. Good morning to everyone and welcome. Thank you for joining us on today's call. I'm joined on the line by our CFO, Jaideep Paul; and Kamal Dua, our Deputy CFO, who as you will have seen from our previous announcements, will be taking over from Jaideep as CFO later this year. Alastair Jones, our Head of Investor Relations, also joins us on the call. We will shortly be answering your questions, but first I would like to provide you with a brief overview of our performance over the last nine months and in particular over the last quarter.

Over the last few years there has been continued volatility in the macro environment, but more recently we've seen some signs of stabilization, which is encouraging. However, throughout the volatility, demand for our services has been sustained, which really reflects the strong underlying demand across our markets. The ability to provide these critical services despite the tough macroeconomic environment is testament to our focused strategy and resilient business model.

The strategy we have adopted has continued to serve increased digital and financial inclusion, smartphone penetration has increased over 5 percentage points over the year, and the 18% growth in our mobile money customer base to over 44 million reflects our focus on providing a wide range of financial services to individuals and businesses that have been previously excluded from the financial ecosystem. These initiatives have translated into strong constant currency results with an acceleration in revenue growth over the last few quarters. Revenues in the quarter reached $1.27 billion, which was a 21.3% growth in constant currency, accelerating from 20.8% growth in quarter two and 19% in quarter one. Given the foreign exchange headwinds experienced over the last year, reported currency revenues grew 2.5% in quarter three....

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