Airtel Africa FY 2022 Profit Beat Market Views — Earnings Review

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By Joe Hope

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Airtel Africa PLC reported its results for fiscal 2022 on Wednesday. Here’s what you need to know:

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SALES: The London-listed, Africa-focused telecom and mobile money-services provider’s sales for the year ended March 31 came in at $4.71 billion, up from $3.89 billion a year prior and roughly in-line with market consensus forecasts.

PRETAX PROFIT: Airtel posted a pretax profit of $1.22 billion, up from $697 billion and exceeding market expectations of $1.14 billion.

WHAT WE WATCHED:

–EBITDA: Earnings before interest, taxes, depreciation and amortization–a key metric that strips out exceptional and other one-off costs–rose to $2.29 billion from $1.79 billion in fiscal 2021, beating market forecasts of $2.23 billion.

–DIVIDEND: The board declared a final dividend of 3 cents a share, bringing the total for the year up to 5 cents in-line with expectations and up from 4 cents in fiscal 2021.

Write to Joe Hoppe at [email protected]

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Credit: www.marketwatch.com /

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