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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
61% of retail CFD accounts lose money. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more at https://etoro.tw/44JRWLY
CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
61% of retail CFD accounts lose money. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more at https://etoro.tw/44JRWLY
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Airtel Africa Revenue Jumps 28%, Capex Doubles
Airtel Africa grew first-half revenue by 28% and reported a record second-quarter margin while more than doubling investment. Leverage fell to 1.6x and the interim dividend rose, but its chief executive flagged fuel costs as a risk to margins.
Airtel Africa (LON: AAF) reported a 28.2% rise in half-year revenue to $3,823m today, with a record second-quarter margin, as it more than doubled capital spending. The telecoms and mobile money group, which operates in 14 countries in sub-Saharan Africa, published its half-year results to 30 September.
AAF.LSE
Revenue compares with $2,982m a year earlier and rose 20.8% in constant currency, which strips out exchange-rate swings. Underlying EBITDA, a measure of operating earnings before one-off items, climbed 32.8% to $1,921m from $1,447m.
The underlying EBITDA margin widened to 50.3% from 48.5%, and the second quarter alone set a record of 50.4%. Operating profit rose 34.2% to $1,286m from $959m.
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Profit after tax rose 20.5% to $452m from $376m, a slower pace after $55m of exceptional items. These covered an in-principle settlement in a subsidiary and expenses on the Airtel Money IPO, alongside higher finance costs and lower currency and derivative gains. Basic earnings per share were 10.2 cents against 8.3 cents.
Customers grew 11.6% to 193.9m, with mobile money customers up 22.4% to 60.9m. In constant currency, data revenue rose 28% and mobile money revenue 25.8%. Second-quarter constant-currency growth was 24.4% in Nigeria, 20.3% in Francophone Africa, where it accelerated, and 18.6% in East Africa.
Airtel Africa first-half revenue and underlying EBITDA, half-years to 30 September, US$ million. Source: company.
Capital expenditure more than doubled to $657m, covering about 4,200 sites and home broadband. Operating cash flow rose 26.7% to $1,759m, and operating free cash flow rose 12.0% to $1,264m from $1,129m.
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Leverage, net debt relative to earnings, fell to 1.6x from 2.1x, or 0.5x from 0.8x including leases. The interim dividend rose 9.2% to 3.1 cents a share, and buybacks totalled $108.7m.
Chief executive Sunil Taldar said Airtel Africa kept its shareholding through the Airtel Money IPO and remains a long-term strategic shareholder. On costs, he was more guarded:
Looking ahead, margin performance will continue to be influenced by the macroeconomic environment, including its impact on fuel costs.
The AskTraders Analyst Team features experts in technical and fundamental analysis, as well as traders specializing in stocks, forex, and cryptocurrency.
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