Airtel Africa H1 2027 Results: Revenue Up 28%, Dividend Raised

Airtel Africa Plc (AIRTELAFRI) has released its results for the half year ended 30 September 2026, showing reported currency revenues of $3,823m, a 28.2% increase year-on-year. In constant currency terms, revenue grew by 20.8%, with Nigeria recording constant currency revenue growth of 24.4% in Q2 2027.

The company's total customer base grew 11.6% to 193.9 million, while data customers rose 15% to 89.9 million. Mobile money customers increased 22.4% to 60.9 million, with annualised total processed value reaching $275bn in Q2 2027.

Underlying EBITDA margin reached a record 50.4% in Q2 2027, up 144 basis points over the previous period. Profit after tax came in at $452m, compared with $376m in the prior period, though the current period included $55m in exceptional items related to an in-principle settlement and Airtel Money IPO expenses. Basic EPS rose to 10.2 cents from 8.3 cents.

Capex more than doubled to $657m during the period, with approximately 4,200 sites added. Leverage improved from 2.1x to 1.6x. The board declared an interim dividend of 3.1 cents per share, a 9.2% increase, and the company returned $108.7m to shareholders via its share buyback programme.