Airtel Africa Plc (LSE:AAF) Annual Report 2022



The latest annual report of Airtel Africa Plc (AAF) was published on 31 Mar 2022. An annual report is a document that public corporations must provide annually to shareholders that describes their operations and financial conditions. Typically, an annual report will contain sections such as General corporate information, Operating and Financial highlights, Letter to shareholders from the CEO, Financial statements etc.

Key Statistics - AAF Annual Results

Amounts in USD

Total Revenue
4.72B
Gross Profit
2.94B
EBIT
1.55B
Net Tangible Assets
-959M
Net Income
631M
Capital Expenditures
-717M

AAF Income Statement 2022 Annual Report

As per the latest Income Statement of AAF, the Net revenue increased by $805.00M (21%) compared to the previous period. The operating income in 2022 increased by $422.00M (38%). The net income as per the annual report was 631M which increased by $292.00M (86%) compared to previous year.

Income Statement Report (2022/2021)

2022 2021
Total Revenue 4.72B 3.92B
Gross Profit 2.94B 2.35B
Operating Income 1.55B 1.12B
Income Before Tax 1.22B 697M
Net Income 631M 339M

Balance Sheet - AAF 2022 Annual Report

Read further: AAF Balance Sheet Detailed Analysis

The latest balance sheet from annual result of Airtel Africa Plc showed the company reduced the cash on balance sheet by $-175.00M (-22%). The Net tangible assets of AAF on the balance sheet were at -959M which is $206.00M (18%) more than previous annual report. The total stockholder equity also increased by $97.00M (3%) compared to previous reporting period.

Balance Sheet Statement Report (2022/2021)

2022 2021
Cash 638M 813M
Total Assets 10.36B 9.99B
Long Term Debt 1.49B 1.87B
Total Liabilities 6.71B 6.64B
Total Shareholder Equity 3.5B 3.4B
Net Tangible Assets -959M -1.17B

Cash Flow Statement - AAF 2022 Annual Report

The 2022 annual cash flow statement of Airtel Africa Plc showed that the net income increased by $292.00M (86%) compared to previous reporting period. Also the capital expenditure of AAF decreased by $-72.00M (-11%).

As of 2022, the total cash from investing activities was -557M and total cash from financing activities was -1.61B.

Cash Flow Statement Report (2022/2021)

2022 2021
Net Income 631M 339M
Capital Expenditures -717M -645M
Dividends Paid -169M -169M
Total Cash From From Investing Activities -557M -1.16B
Total Cash From From Financing Activities -1.61B -575M

Airtel Africa Plc Annual Report History

Income Statement

Income Statement history of Airtel Africa Plc (LSE:AAF)

31 Mar 2022 31 Mar 2021 31 Mar 2020 31 Mar 2019
Total Revenue 4.72B 3.92B 3.44B 3.1B
Cost Of Revenue 1.79B 1.57B 1.47B 1.36B
Gross Profit 2.94B 2.35B 1.97B 1.75B
Research Development - - - -
Selling General Administrative 224M 187M 148M 152M
Non Recurring - - - -
Other Operating Expenses 423M 358M 295M 283M
Total Operating Expenses 3.18B 2.79B 2.51B 2.32B
Operating Income 1.55B 1.12B 926M 780M
Total Other Income Expense Net -323M -428M -328M -432M
Ebit 1.55B 1.12B 926M 780M
Interest Expense -310M -306M -299M -327M
Income Before Tax 1.22B 697M 598M 348M
Income Tax Expense 469M 282M 190M -78M
Minority Interest 147M -52M -107M -196M
Net Income From Continuing Ops 755M 415M 408M 426M
Discontinued Operations - - - -
Extraordinary Items - - - -
Effect Of Accounting Charges - - - -
Other Items - - - -
Net Income 631M 339M 370M 388M
Net Income Applicable To Common Shares 631M 339M 370M 388M

Balance Sheet Statement

Balance Sheet Statement history of Airtel Africa Plc (LSE:AAF)

31 Mar 2022 31 Mar 2021 31 Mar 2020 31 Mar 2019
Cash 638M 813M 1.01B 848M
Short Term Investments 220M 257M - 18M
Net Receivables 257M 201M 220M 198M
Inventory 3M 7M 3M 3M
Other Current Assets 766M 540M 352M 289M
Total Current Assets 2B 1.91B 1.67B 1.42B
Long Term Investments 6M 4M 3M 3M
Property Plant Equipment 3.51B 3.03B 2.73B 2.62B
Good Will 3.83B 3.83B 3.94B 4.13B
Intangible Assets 634M 735M 486M 419M
Other Assets 388M 482M 492M 518M
Deferred Long Term Asset Charges 222M 314M 333M 346M
Total Assets 10.36B 9.99B 9.32B 9.11B
Accounts Payable 404M 366M 416M 470M
Short Long Term Debt 234M 1.13B 429M 559M
Other Current Liab 1.3B 1.18B 1.01B 1.07B
Long Term Debt 1.49B 1.87B 2.45B 2.44B
Other Liab 819M 227M 140M 96M
Minority Interest 147M -52M -107M -196M
Total Current Liabilities 3.07B 3.5B 2.49B 3.1B
Total Liab 6.71B 6.64B 6.04B 6.68B
Common Stock 1.88B 1.88B 1.88B 3.08B
Retained Earnings 3.44B 2.98B 2.81B 1.69B
Treasury Stock -1.81B -1.45B -1.3B -2.61B
Other Stockholder Equity -1.81B -1.45B -1.3B -2.61B
Total Stockholder Equity 3.5B 3.4B 3.39B 2.63B
Net Tangible Assets -959M -1.17B -1.04B -1.92B

Cash Flow Statement

Cash Flow Statement history of Airtel Africa Plc (LSE:AAF)

31 Mar 2022 31 Mar 2021 31 Mar 2020 31 Mar 2019
Net Income 631M 339M 370M 388M
Depreciation 744M 681M 605M 573M
Change To Netincome 605M 570M 399M 241M
Change To Account Receivables -18M -8M -11M -29M
Change To Liabilities 61M -22M -6M -51M
Change To Inventory 4M -4M -1M -1M
Change To Operating Activities -16M 110M 31M -56M
Total Cash From Operating Activities 2.01B 1.67B 1.39B 1.07B
Capital Expenditures -717M -645M -656M -568M
Investments -87M -257M -257M -257M
Other Cashflows From Investing Activities 19M 14M 29M 21M
Total Cashflows From Investing Activities -557M -1.16B -801M -630M
Dividends Paid -169M -169M -113M -113M
Net Borrowings -1.39B -66M -735M -1.75B
Other Cashflows From Financing Activities -39M -336M -209M -454M
Total Cash From Financing Activities -1.61B -575M -370M 179M
Effect Of Exchange Rate -3M -17M 1M 4M
Change In Cash -156M -84M 217M 624M
Repurchase Of Stock -6M -4M -4M -4M