The call emphasized broad, multi-dimensional operational and financial strength: strong double-digit constant-currency revenue and EBITDA growth, margin expansion, significant mobile money scaling, accelerated CapEx and network expansion, and improving finance metrics. Headwinds exist — notably competitive intensity in East Africa, regulatory outages, voice declines, potential lapping of Nigeria tariff-driven growth and some execution/regulatory risks for new initiatives — but management presented these as manageable or temporary while highlighting ongoing strategic responses. Overall, the positives substantially outweigh the negatives.

Company Guidance

Management gave limited explicit forward guidance but highlighted a few concrete metrics: full‑year CapEx is guided at USD 875–900m (with $603m spent in the first 9 months, +30% YoY, and management on track to hit the range), the Airtel Money IPO remains on track for H1 2026, the group says it is comfortable with current leverage (net leverage cited around 1.9x while lease‑adjusted leverage is ~0.7x, down from 1.1x a year earlier) as the group's effective interest rate has declined ~200 basis points, and Nigerian tax reform (input VAT claimable from 1 Jan) is expected to boost Nigeria margins by about 1.5% from Q4; management reiterated they do not provide forward quarterly revenue guidance and emphasized continued network investment (≈2,500 sites added and fiber >81,500 km) to support growth.

Strong Revenue and EBITDA Growth

Reported currency revenues grew 28.3% year-on-year while reported EBITDA grew ~36%. On a constant currency basis, revenues rose 24.6% and EBITDA increased 31% over the prior year.

Quarter 3 Revenue Acceleration

Q3 revenues reached $1.69 billion, up 24.7% in constant currency (reported growth ~33%), an acceleration versus the prior quarter.

Robust Mobile Services Performance

Mobile Services revenues increased 23.6% in constant currency. Customers reached 179.4 million (double-digit growth), data customers rose ~15% to 81.8 million, smartphone penetration climbed ~4 percentage points to 48.1%, and data traffic rose ~47% with average usage 9.3 GB/month (up 25.6% YoY). Data ARPU increased 16.2% in Q3 and data revenues grew ~35.5% in constant currency.

Airtel Money Scale and Traction

Airtel Money passed 52 million customers and annualized TPV exceeded $210 billion (growth ~36%). Mobile money revenue grew ~28% in constant currency in the quarter and posted EBITDA margins above 50%.

Margin Expansion and Profitability

Group EBITDA margin expanded to 49.6% in Q3 (from 49.0% in Q2). Constant currency EBITDA rose 31% and reported currency EBITDA rose 40.8%. Nigeria margins improved to 57.8% and Francophone margins to 44.3%.

Earnings and EPS Improvement

Underlying EPS increased from $0.074 to $0.116 for the 9-month period (a 57% rise). Basic EPS increased to $0.131 from $0.044 year-on-year.

CapEx Investment and Network Expansion

9-month CapEx rose over 30% to $603 million; full-year CapEx guidance is $875–$900 million. The group added ~2,500 sites and expanded fiber to over 81,500 kilometers to support capacity and coverage.

Balance Sheet and Finance Improvements

Lease-adjusted leverage declined to 0.7x (from 1.1x prior year). The group's effective interest rate fell by ~200 basis points, enabling paydown of higher-rate debt and stronger free cash flow generation.

Strategic Innovation and Partnership Progress

Launched initiatives such as an AI spam alert and a partnership with Starlink to offer Direct-to-Cell services (subject to regulator approvals). Progress reported on Airtel Money IPO preparation, on track for H1 2026.

Airtel Africa Plc (GB:AAF) Earnings, Revenues Date & History

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GB:AAF Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 08, 2026	2026 (Q4)	0.02 / -	0.015	―	―	―
Jan 30, 2026	2026 (Q3)	0.03 / 0.04	0.009	276.92% (+0.03)	―	―
Oct 28, 2025	2026 (Q2)	0.02 / 0.04	0.019	88.46% (+0.02)	―	―
Jul 24, 2025	2026 (Q1)	- / 0.02	0.017	47.83% (<+0.01)	―	―
May 08, 2025	2025 (Q4)	0.01 / 0.01	0.022	-33.33% (>-0.01)	―	―
Jan 30, 2025	2025 (Q3)	0.00 / <0.01	<0.001	1200.00% (<+0.01)	―	―
Oct 25, 2024	2025 (Q2)	0.02 / 0.02	0.023	-16.13% (>-0.01)	―	―
Jul 25, 2024	2025 (Q1)	0.01 / 0.02	0.028	-41.03% (-0.01)	―	―
May 09, 2024	2024 (Q4)	-0.02 / 0.02	0.02	7.14% (<+0.01)	―	―
Feb 01, 2024	2024 (Q3)	0.03 / <0.01	0.029	-97.50% (-0.03)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

GB:AAF Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jan 30, 2026	341.80p	319.20p	-6.61%
Oct 28, 2025	228.91p	266.43p	+16.39%
Jul 24, 2025	181.76p	194.96p	+7.26%
May 08, 2025	166.27p	152.31p	-8.40%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Airtel Africa Plc (GB:AAF) report earnings?

Airtel Africa Plc (GB:AAF) is schdueled to report earning on May 08, 2026, Before Open (Confirmed).

What is Airtel Africa Plc (GB:AAF) earnings time?

Airtel Africa Plc (GB:AAF) earnings time is at May 08, 2026, Before Open (Confirmed).

Where can I see when companies are reporting earnings?

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What companies are reporting earnings today?

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What is the P/E ratio of Airtel Africa Plc stock?

The P/E ratio of Airtel Africa Plc is N/A.

What is GB:AAF EPS forecast?

GB:AAF EPS forecast for the fiscal quarter 2026 (Q4) is 0.02.