Buy Or Sell Opportunity • 20h
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.3% to €3.76. The fair value is estimated to be €4.73, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.6% over the last 3 years. Earnings per share has grown by 25%. For the next 3 years, revenue is forecast to grow by 13% per annum. Earnings are also forecast to grow by 26% per annum over the same time period. Declared Dividend • May 21
Final dividend of US$0.043 announced Shareholders will receive a dividend of US$0.043. Ex-date: 18th June 2026 Payment date: 24th July 2026 Dividend yield will be 1.8%, which is lower than the industry average of 3.6%. Sustainability & Growth Dividend is well covered by both earnings (38% earnings payout ratio) and cash flows (11% cash payout ratio). The dividend has increased by an average of 2.4% per year over the past 7 years. However, payments have been volatile during that time. EPS is expected to grow by 90% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • Apr 17
Airtel Africa Plc to Report Fiscal Year 2026 Results on May 08, 2026 Airtel Africa Plc announced that they will report fiscal year 2026 results on May 08, 2026 Aankondiging • Mar 25
Airtel Africa PLC Announces Board Changes Airtel Africa PLC announced that Sunil Bharti Mittal has informed the Board of his intention to retire as Chair of the Board at the conclusion of this year's AGM in July 2026. Mr. Mittal has served as Chair since listing in 2019. The Board announced that Gopal Vittal will be appointed Non-Executive Chair of the Board with effect from the same date. Mr. Vittal's appointment is by nomination of the controlling shareholder pursuant to the terms of the relationship agreement dated June 17, 2019 between the Company, Bharti Airtel, Airtel Africa Mauritius Limited, the majority shareholder and an indirect subsidiary of Bharti Airtel, and Bharti Telecom. Mr. Vittal is an established telecoms leader who led Bharti Airtel to a life-time high revenue market share in an intensely competitive market and is the current Board Chair of the GSMA. He was appointed a non-executive director of Airtel Africa in October 2024. The Board acknowledged that Mr. Vittal will not be independent on appointment for the purposes of the UK Corporate Governance Code. Shravin Bharti Mittal will assume the role of Deputy Chair with effect from the same date. As Deputy Chair, Mr. Mittal will ensure continuity with the founding family and significant shareholder, and will be the Board's conduit with the Airtel Money Board, on which he serves, and with Airtel Africa's headquarters in Dubai, where he is based. As part of the ongoing succession planning in respect of the Company's Non-Executive Directors, Annika Poutiainen will also retire at the conclusion of the July AGM, at which point she will have served for over seven years. Aankondiging • Jan 14
Airtel Africa Plc to Report Nine Months, 2026 Results on Jan 30, 2026 Airtel Africa Plc announced that they will report nine months, 2026 results on Jan 30, 2026 Aankondiging • Nov 12
Airtel Africa plc Announces Board and Committee Changes Airtel Africa plc announced that Andrew Green has informed the Board of his intention to retire as Senior independent non-executive director following the conclusion of the 29 January 2026 Board meeting. Upon Andrew's retirement, Tsega Gebreyes will be appointed as Senior independent non-executive director. Tsega Gebreyes was appointed as a non-executive director on 12 October 2021, and currently chairs the Remuneration Committee as well as serving on the Nominations Committee. She will remain a member of the Remuneration Committee. Cynthia Gordon will succeed Tsega as Chair of the Remuneration Committee and will join the Nominations Committee. Aankondiging • Oct 28
Airtel Africa plc Declares Interim Dividend for the Half Year Ended 30 September 2025, Payable on 12 December 2025 Airtel Africa Plc has declared an interim dividend of 2.84 cents for the half year ended 30 September 2025, payable on 12 December 2025 to shareholders recorded in the register at the close of business on 7 November 2025. Shares commence trading ex-dividend: November 6, 2025. Aankondiging • Oct 14
Airtel Africa Plc to Report First Half, 2026 Results on Oct 28, 2025 Airtel Africa Plc announced that they will report first half, 2026 results on Oct 28, 2025 Aankondiging • Jul 14
Airtel Africa Plc to Report Q1, 2026 Results on Jul 24, 2025 Airtel Africa Plc announced that they will report Q1, 2026 results on Jul 24, 2025 Aankondiging • Jun 10
Airtel Africa Plc, Annual General Meeting, Jul 09, 2025 Airtel Africa Plc, Annual General Meeting, Jul 09, 2025. Location: first floor, 53/54 grosvenor street, w1k 3hu, london United Kingdom Aankondiging • May 09
Airtel Africa plc Recommends Final Dividend for the Financial Year Ended 31 March 2025, Payable on 25 July 2025 The board of Airtel Africa Plc has recommended a final dividend of 3.9 cents for the financial year ended 31 March 2025, payable on 25 July 2025 to shareholders recorded in the register at the close of business on 20 June 2025. Last day to trade shares cum dividend is 18 June 2025. Shares commence trading ex-dividend is 19 June 2025. Aankondiging • Apr 16
Airtel Africa Plc to Report Fiscal Year 2025 Results on May 08, 2025 Airtel Africa Plc announced that they will report fiscal year 2025 results on May 08, 2025 Aankondiging • Mar 24
Airtel Africa plc Appoints Cynthia Gordon as an Independent Non-Executive Director and Member of Remuneration Committee, Effective 1 April 2025 Airtel Africa plc announced the appointment of Cynthia Gordon as an independent non-executive director with effect from 1 April 2025. Cynthia will serve on the Company's remuneration committee. Cynthia is currently a non-executive director and remuneration committee chair at both Bodycote plc, the FTSE 250 global industrial services company and Severfield plc, the leading structural steel group. She is also thenon-executive chair of Global Fashion Group, a Luxembourg-based e-commerce company listed in Frankfurt . Other roles include acting as a senior advisor to Tillman Global Holdings, an investor in infrastructure businesses. Cynthia was formerly a non-executive director of Eutelsat Communications SA, a satellite operator listed in Paris, Tele2 and Kinnevik. As an executive director, Cynthia worked at a number of companies, including Millicom, Ooredoo and Orange. She was CEO of Millicom Africa responsible for six countries, and was also Group Commercial Director at Ooredoo, with responsibility for commercial performance across 15 countries. Aankondiging • Jan 16
Airtel Africa Plc to Report Q3, 2025 Results on Jan 30, 2025 Airtel Africa Plc announced that they will report Q3, 2025 results on Jan 30, 2025 Aankondiging • Dec 25
Airtel Africa Plc (LSE:AAF) commences an Equity Buyback Plan for 374,141,187 shares, representing 10.01% of its issued share capital, under the authorization approved on July 3, 2024. Airtel Africa Plc (LSE:AAF) commences share repurchases on December 23, 2024, under the program mandated by shareholders in the Annual General Meeting held on July 3, 2024. As per the mandate, the company is authorized to repurchase up to 374,141,187 shares, representing 10% of its share capital. The minimum price (excluding expenses) which may be paid for any such ordinary share is $ 0.50 per share. The maximum price (excluding expenses) which may be paid for any such ordinary share is the higher of an amount equal to 105% of the average of the middle market quotations for an ordinary share in the Company as derived from The London Stock Exchange Daily Official List for the five business days immediately preceding the day on which such share is contracted to be purchased and the higher of the price of the last independent trade and the highest current independent bid for an ordinary share in the Company on the trading venues where the market purchases by the Company. The repurchased shares will be cancelled. The authority will be valid till the next AGM of the Company or, if earlier, on October 2, 2025. As of July 1, 2024, the company had 3,736,669,688 issued shares. Aankondiging • Oct 28
Airtel Africa plc Announces Appointment of Gopal Vittal as A Non-Executive Director Airtel Africa plc announced the appointment of Gopal Vittal as a non-executive director of the Company with immediate effect. Mr. Vittal's appointment is by nomination of the controlling shareholder pursuant to the terms of relationship agreement dated 17 June 2019 between the Company, Bharti Airtel, Airtel Africa Mauritius Limited, the majority shareholder and an indirect subsidiary of Bharti Airtel, and Bharti Telecom. He has also driven Bharti Airtel Limited's digital transformation including defining the culture, metrics, incentives for collaboration and overall "re-imagining of the business". Prior to this, Mr. Vittal worked for twenty years with Unilever across sales, marketing and general management in markets spanning India, Thailand, Indonesia and China. Mr. Vittal is an alumnus of Madras Christian College and has completed his MBA from IIM, Kolkata. Declared Dividend • Oct 28
First half dividend of US$0.026 announced Shareholders will receive a dividend of US$0.026. Ex-date: 7th November 2024 Payment date: 13th December 2024 Dividend yield will be 4.5%, which is higher than the industry average of 3.6%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (20% cash payout ratio). The dividend has decreased over the past 56 years, indicating a lack of growth and stability in payments. Aankondiging • Oct 26
Airtel Africa Plc Declares Interim Dividend for the Half Year Ended 30 September 2024, Payable on 13 December 2024 Airtel Africa Plc has declared an interim dividend of 2.6 cents for the half year ended 30 September 2024, payable on 13 December 2024 to shareholders recorded in the register at the close of business on 8 November 2024. Reported Earnings • Oct 25
Second quarter 2025 earnings released: EPS: US$0.006 (vs US$0.031 in 2Q 2024) Second quarter 2025 results: EPS: US$0.006 (down from US$0.031 in 2Q 2024). Revenue: US$1.22b (down 2.9% from 2Q 2024). Net income: US$24.0m (down 79% from 2Q 2024). Profit margin: 2.0% (down from 9.2% in 2Q 2024). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Wireless Telecom industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance. Aankondiging • Oct 15
Airtel Africa Plc to Report First Half, 2025 Results on Oct 25, 2024 Airtel Africa Plc announced that they will report first half, 2025 results on Oct 25, 2024 Reported Earnings • Jul 26
First quarter 2025 earnings released: EPS: US$0.002 (vs US$0.045 loss in 1Q 2024) First quarter 2025 results: EPS: US$0.002 (up from US$0.045 loss in 1Q 2024). Revenue: US$1.16b (down 16% from 1Q 2024). Net income: US$7.00m (up US$177.0m from 1Q 2024). Profit margin: 0.6% (up from net loss in 1Q 2024). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Wireless Telecom industry in Europe. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Upcoming Dividend • Jun 13
Upcoming dividend of US$0.036 per share Eligible shareholders must have bought the stock before 20 June 2024. Payment date: 26 July 2024. The company is not currently making a profit but it is cash flow positive. Trailing yield: 3.9%. Lower than top quartile of German dividend payers (4.5%). Lower than average of industry peers (8.2%). Aankondiging • Jun 13
Airtel Africa Plc, Annual General Meeting, Jul 03, 2024 Airtel Africa Plc, Annual General Meeting, Jul 03, 2024. Location: first floor, 53 54 grosvenor street, w1k 3hu, london United Kingdom Reported Earnings • Jun 10
Full year 2024 earnings released: US$0.044 loss per share (vs US$0.18 profit in FY 2023) Full year 2024 results: US$0.044 loss per share (down from US$0.18 profit in FY 2023). Revenue: US$5.00b (down 5.1% from FY 2023). Net loss: US$165.0m (down 125% from profit in FY 2023). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Wireless Telecom industry in Europe. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Declared Dividend • May 12
Final dividend of US$0.036 announced Shareholders will receive a dividend of US$0.036. Ex-date: 20th June 2024 Payment date: 26th July 2024 Dividend yield will be 4.3%, which is higher than the industry average of 3.6%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (18% cash payout ratio). The dividend has decreased over the past 56 years, indicating a lack of growth and stability in payments. Reported Earnings • May 09
Full year 2024 earnings released: US$0.044 loss per share (vs US$0.18 profit in FY 2023) Full year 2024 results: US$0.044 loss per share (down from US$0.18 profit in FY 2023). Revenue: US$5.00b (down 5.1% from FY 2023). Net loss: US$165.0m (down 125% from profit in FY 2023). Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, while revenues in the Wireless Telecom industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Aankondiging • Apr 19
Airtel Africa Plc to Report Fiscal Year 2024 Results on May 09, 2024 Airtel Africa Plc announced that they will report fiscal year 2024 results on May 09, 2024 Aankondiging • Mar 01
Airtel Africa Plc (LSE:AAF) announces an Equity Buyback for $100 million worth of its shares. Airtel Africa Plc (LSE:AAF) announces a share repurchase program. Under the program, the company will repurchase up to $100 million worth of its shares. The purpose of the program is to reduce the capital of the Company. All shares purchased under the program will be cancelled. The program is valid for 12 months. Aankondiging • Feb 06
John Danilovich Announces Intention to Retire as an Independent Non-Executive Director of Airtel Africa plc Airtel Africa plc announced that John Danilovich has informed the Board of his intention to retire as an independent non-executive director of Airtel Africa plc at the conclusion of this year's AGM in July 2024. Reported Earnings • Feb 04
Third quarter 2024 earnings released: US$0.002 loss per share (vs US$0.046 profit in 3Q 2023) Third quarter 2024 results: US$0.002 loss per share (down from US$0.046 profit in 3Q 2023). Revenue: US$1.24b (down 8.4% from 3Q 2023). Net loss: US$6.00m (down 103% from profit in 3Q 2023). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Wireless Telecom industry in Europe. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Aankondiging • Jan 17
Airtel Africa Plc to Report Nine Months, 2024 Results on Feb 01, 2024 Airtel Africa Plc announced that they will report nine months, 2024 results on Feb 01, 2024 Aankondiging • Nov 03
Airtel Africa plc Announces Board and Committee Changes Airtel Africa Plc announced board and committee changes. Doug Baillie has joined the Bharti Airtel Limited Board as an Independent Director, he has decided to step down as an independent non-executive director of Airtel Africa plc .Tsega Gebreyes will replace Doug Baillie as Chair of the Remuneration Committee. Kelly Bayer Rosmarin has informed the company that she will step down as a non-independent non-executive director of Airtel Africa plc Kelly joined the Board in October 2020 by nomination of the controlling shareholder pursuant to the terms of the relationship agreement dated 17 June 2019 between the Company, Bharti Airtel, Airtel Africa Mauritius Limited, the majority shareholder and an indirect subsidiary of Bharti Airtel, and Bharti Telecom. Upcoming Dividend • Nov 02
Upcoming dividend of US$0.024 per share at 3.8% yield Eligible shareholders must have bought the stock before 09 November 2023. Payment date: 15 December 2023. Payout ratio is a comfortable 68% and this is well supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (7.9%). Reported Earnings • Oct 31
Second quarter 2024 earnings released: EPS: US$0.032 (vs US$0.035 in 2Q 2023) Second quarter 2024 results: EPS: US$0.032 (down from US$0.035 in 2Q 2023). Revenue: US$1.26b (down 4.4% from 2Q 2023). Net income: US$115.0m (down 14% from 2Q 2023). Profit margin: 9.2% (in line with 2Q 2023). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 1.5% growth forecast for the Wireless Telecom industry in Europe. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Oct 30
Airtel Africa plc Declares Interim Dividend for the Period Ended 30 September 2023, Payable on 15 December 2023 The board of Airtel Africa Plc has declared an interim dividend of 2.38 cents per share for the period ended 30 September 2023, payable on 15 December 2023 to shareholders recorded in the register at the close of business on 10 November 2023. Last day to trade shares cum dividend is 8 November 2023. New Risk • Jul 30
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 49% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (49% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (6.1% net profit margin). Reported Earnings • Jul 30
First quarter 2024 earnings released: US$0.045 loss per share (vs US$0.043 profit in 1Q 2023) First quarter 2024 results: US$0.045 loss per share (down from US$0.043 profit in 1Q 2023). Revenue: US$1.38b (up 9.9% from 1Q 2023). Net loss: US$170.0m (down 204% from profit in 1Q 2023). Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, while revenues in the Wireless Telecom industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Jun 22
Airtel Africa Plc Proposes Final Dividend, Payable on 26 July 2023 Airtel Africa Plc proposed final dividend (recommended by the Board to be 3.27 cents per ordinary share payable on 26 July 2023 to shareholders on the register at of close of business on 23 June 2023), and the currency exchange rates that will be applicable in determination of the final dividend payment to any shareholders that qualify for and have elected to receive the final dividend payment in U.S. dollars, GB pounds or Nigerian naira. Upcoming Dividend • Jun 15
Upcoming dividend of US$0.033 per share at 3.2% yield Eligible shareholders must have bought the stock before 22 June 2023. Payment date: 26 July 2023. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (7.9%). Reported Earnings • May 12
Full year 2023 earnings released: EPS: US$0.18 (vs US$0.17 in FY 2022) Full year 2023 results: EPS: US$0.18 (up from US$0.17 in FY 2022). Revenue: US$5.27b (up 12% from FY 2022). Net income: US$663.0m (up 5.1% from FY 2022). Profit margin: 13% (in line with FY 2022). Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 1.2% growth forecast for the Wireless Telecom industry in Europe. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has increased by 47% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Feb 04
Third quarter 2023 earnings released: EPS: US$0.046 (vs US$0.041 in 3Q 2022) Third quarter 2023 results: EPS: US$0.046 (up from US$0.041 in 3Q 2022). Revenue: US$1.35b (up 11% from 3Q 2022). Net income: US$172.0m (up 11% from 3Q 2022). Profit margin: 13% (in line with 3Q 2022). Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Wireless Telecom industry in Europe. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Nov 05
Independent Non-Executive Director recently bought €116k worth of stock On the 27th of October, John Danilovich bought around 88k shares on-market at roughly €1.31 per share. This transaction amounted to 17% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €293k more in shares than they have sold in the last 12 months. Aankondiging • Nov 01
Airtel Africa Confirms an Interim Dividend Will Be Paid on or Around 9 December 2022 Airtel Africa has confirmed an interim dividend of 2.18 cents per ordinary share which will be paid on or around 9 December 2022. The Interim dividend will be paid in U.S. Dollars, although Airtel Africa plc offer their shareholders the opportunity to elect to receive their dividend payments in Pounds Sterling or Naira via Currency Elections. The dividend timetable dates are: Ex-dividend date: 10 November 2022, Record date: 11 November 2022 and Payment date: of On or around 9 December 2022. Reported Earnings • Oct 28
Second quarter 2023 earnings released: EPS: US$0.035 (vs US$0.043 in 2Q 2022) Second quarter 2023 results: EPS: US$0.035 (down from US$0.043 in 2Q 2022). Revenue: US$1.31b (up 13% from 2Q 2022). Net income: US$133.0m (down 17% from 2Q 2022). Profit margin: 10% (down from 14% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Wireless Telecom industry in Europe. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 29
First quarter 2023 earnings released: EPS: US$0.043 (vs US$0.033 in 1Q 2022) First quarter 2023 results: EPS: US$0.043 (up from US$0.033 in 1Q 2022). Revenue: US$1.26b (up 13% from 1Q 2022). Net income: US$163.0m (up 30% from 1Q 2022). Profit margin: 13% (up from 11% in 1Q 2022). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 12%, compared to a 2.1% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 21
Investor sentiment improved over the past week After last week's 18% share price gain to €2.02, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 18x in the Wireless Telecom industry in Europe. Total returns to shareholders of 198% over the past three years. Aankondiging • Jun 29
Airtel Africa Plc Approves Final Dividend for the Year Ended 31 March 2022 Airtel Africa Plc approved final dividend for the year ended 31 March 2022, of USD 0.03 for each ordinary share, at its AGM held on 28 June 2022. Aankondiging • Jun 22
Airtel Africa plc Proposes Final Dividend, Payable on July 22, 2022 Airtel Africa plc confirmed that the default currency and options on currency election for the proposed final dividend (recommended by the Board to be 3 cents per ordinary share payable on 22 July 2022 to shareholders on the register at of close of business on 24 June 2022), and the currency exchange rates that will be applicable in determination of the final dividend payment to any shareholders that qualify for and have elected to receive the final dividend payment in U.S. dollars, GB pounds or Nigerian naira. Upcoming Dividend • Jun 16
Upcoming dividend of US$0.03 per share Eligible shareholders must have bought the stock before 23 June 2022. Payment date: 22 July 2022. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of German dividend payers (4.5%). Lower than average of industry peers (6.8%). Aankondiging • Jun 07
Airtel Africa Plc (LSE:AAF) acquired Spectrum of 58 MHz in Democratic Republic of Congo. Airtel Africa Plc (LSE:AAF) acquired Spectrum of 58 MHz in Democratic Republic of Congo on June 6, 2022.
Airtel Africa Plc (LSE:AAF) completed the acquisition of Spectrum of 58 MHz in Democratic Republic of Congo on June 6, 2022. Reported Earnings • May 12
Full year 2022 earnings released: EPS: US$0.17 (vs US$0.09 in FY 2021) Full year 2022 results: EPS: US$0.17 (up from US$0.09 in FY 2021). Revenue: US$4.72b (up 21% from FY 2021). Net income: US$631.0m (up 86% from FY 2021). Profit margin: 13% (up from 8.7% in FY 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 9.0%, compared to a 1.7% growth forecast for the industry in Germany. Aankondiging • May 12
Airtel Africa plc Recommends Final Dividend Airtel Africa Plc announced that the Board recommended a final dividend of 3 cents per share on 10 May 2022. Aankondiging • Apr 25
Airtel Africa Plc to Report Fiscal Year 2022 Results on May 11, 2022 Airtel Africa Plc announced that they will report fiscal year 2022 results on May 11, 2022 Recent Insider Transactions • Feb 18
Independent Non-Executive Director recently bought €59k worth of stock On the 10th of February, Ravi Rajagopal bought around 36k shares on-market at roughly €1.66 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Feb 06
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: US$0.041 (up from US$0.025 in 3Q 2021). Revenue: US$1.22b (up 18% from 3Q 2021). Net income: US$155.0m (up 63% from 3Q 2021). Profit margin: 13% (up from 9.2% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 7.6%, compared to a 2.6% growth forecast for the industry in Germany. Aankondiging • Jan 31
Airtel Africa Plc(LSE:AAF) dropped from FTSE 250 (Ex Investment Companies) Index (GBP) Airtel Africa Plc(LSE:AAF) dropped from FTSE 250 (Ex Investment Companies) Index (GBP) Valuation Update With 7 Day Price Move • Nov 09
Investor sentiment improved over the past week After last week's 19% share price gain to €1.49, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Wireless Telecom industry in Europe. Total returns to shareholders of 91% over the past year. Upcoming Dividend • Nov 04
Upcoming dividend of US$0.02 per share Eligible shareholders must have bought the stock before 11 November 2021. Payment date: 10 December 2021. Trailing yield: 3.0%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (5.8%). Reported Earnings • Oct 30
Second quarter 2022 earnings released: EPS US$0.043 (vs US$0.019 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: US$1.16b (up 20% from 2Q 2021). Net income: US$160.0m (up 129% from 2Q 2021). Profit margin: 14% (up from 7.2% in 2Q 2021). The increase in margin was driven by higher revenue. Reported Earnings • Jul 30
First quarter 2022 earnings released: EPS US$0.033 (vs US$0.011 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: US$1.11b (up 31% from 1Q 2021). Net income: US$125.0m (up 198% from 1Q 2021). Profit margin: 11% (up from 4.9% in 1Q 2021). The increase in margin was driven by higher revenue. Upcoming Dividend • Jun 17
Upcoming dividend of US$0.025 per share Eligible shareholders must have bought the stock before 24 June 2021. Payment date: 23 July 2021. Trailing yield: 3.6%. Within top quartile of German dividend payers (3.2%). Lower than average of industry peers (5.3%). Reported Earnings • May 13
Full year 2021 earnings released The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2021 results: Revenue: US$3.92b (up 14% from FY 2020). Net income: US$339.0m (down 8.4% from FY 2020). Profit margin: 8.7% (down from 11% in FY 2020). The decrease in margin was driven by higher expenses. Aankondiging • May 12
Airtel Africa plc Recommends Final Dividend, Payable on 23 July 2021 The Board of Airtel Africa Plc has recommended a final dividend of 2.5 cents per ordinary share. The proposed final dividend will be paid on 23 July 2021 to all ordinary shareholders who are on the register of members at the close of business on 25 June 2021. Aankondiging • Mar 20
TPG The Rise Fund, a fund managed by TPG Growth agreed to acquire an unknown minority stake in Airtel Mobile Commerce B.V. from Airtel Africa Plc (LSE:AAF) for $200 million. TPG The Rise Fund, a fund managed by TPG Growth agreed to acquire an unknown minority stake in Airtel Mobile Commerce B.V. from Airtel Africa Plc (LSE:AAF) for $200 million on March 18, 2021. The transaction will close in two stages. $150 million will be invested at first close, once the transfer of sufficient mobile money operations and contracts into AMC BV has been completed, with $50 million to be invested at second close upon further transfers. The proceeds from the transaction will be used to reduce group debt and invest in network and sales infrastructure in the respective operating countries. Post the first close, The Rise Fund will be entitled to appoint a director to the board of AMC BV. The Transaction is subject to customary closing conditions including necessary regulatory filings and approvals, as necessary, and the inclusion of specified mobile money business assets and contracts into AMC BV. AMC BV will own and operate the mobile money businesses across all of Airtel Africa's fourteen operating countries once the inclusion of the remaining mobile money operations under AMC BV is completed. Kem Ihenacho,Laura Kichenside, Alice Drayton,Warren Wellington,Christian McDermott and Stuart Davis led by Latham & Watkins acted as legal adviser for TPG Growth. Aankondiging • Feb 03
Airtel Africa Set to Sell Stake in Mobile Money Service Airtel Africa Plc (LSE:AAF) is seeking to sell a minority stake in its mobile financial services platform Airtel Money in a bid to raise cash. The multinational said the move is part of a strategy of selling some assets. "We are actively pursuing the sale of the remaining owned tower sites that sit across several of our operating countries and the group is in discussions with various potential investors in relation to possible minority investments into Airtel Money," the firm says in a trading update. "Discussions are ongoing between the parties and there can be no certainty that a transaction will be concluded or as to the final terms of any transaction." The company did not indicate the amount of cash it could raise from the proposed deal. Reported Earnings • Jan 30
Third quarter 2021 earnings released: EPS US$0.025 (vs US$0.02 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: US$1.03b (up 17% from 3Q 2020). Net income: US$95.0m (down 7.8% from 3Q 2020). Profit margin: 9.2% (down from 12% in 3Q 2020). The decrease in margin was driven by higher expenses. Analyst Estimate Surprise Post Earnings • Jan 30
Revenue beats expectations Revenue exceeded analyst estimates by 6.6%. Over the next year, revenue is forecast to grow 6.0% compared to a 2.1% decline forecast for the Wireless Telecom industry in Germany. Aankondiging • Jan 20
Airtel Africa Plc to Report Nine Months, 2021 Results on Jan 29, 2021 Airtel Africa Plc announced that they will report nine months, 2021 results on Jan 29, 2021 Valuation Update With 7 Day Price Move • Dec 05
Market bids up stock over the past week After last week's 19% share price gain to US$1.03, the stock is trading at a trailing P/E ratio of 18.2x, up from the previous P/E ratio of 15.3x. This compares to an average P/E of 19x in the Wireless Telecom industry in Europe. Total returns to shareholders over the past year are 17%. Is New 90 Day High Low • Dec 04
New 90-day high: €0.98 The company is up 56% from its price of €0.63 on 04 September 2020. The German market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Wireless Telecom industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.68 per share. Is New 90 Day High Low • Nov 07
New 90-day high: €0.73 The company is up 20% from its price of €0.61 on 07 August 2020. The German market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Wireless Telecom industry, which is down 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.87 per share. Reported Earnings • Oct 25
First half earnings released Over the last 12 months the company has reported total profits of US$267.0m, down 28% from the prior year. Total revenue was US$3.61b over the last 12 months, up 12% from the prior year. Analyst Estimate Surprise Post Earnings • Oct 25
Second-quarter earnings released: Revenue beats expectations Second-quarter revenue exceeded analyst estimates by 11% at US$970.0m. Revenue is forecast to grow 2.8% over the next year, compared to a 2.0% decline forecast for the Wireless Telecom industry in Germany. Is New 90 Day High Low • Oct 19
New 90-day high: €0.72 The company is up 6.0% from its price of €0.68 on 21 July 2020. The German market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Wireless Telecom industry, which is down 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.75 per share. Aankondiging • Jul 18
Airtel Africa Plc to Report Q1, 2021 Results on Jul 24, 2020 Airtel Africa Plc announced that they will report Q1, 2021 results on Jul 24, 2020 
