Financials Airtel Africa plc

Equities

AAF

GB00BKDRYJ47

Integrated Telecommunications Services

Real-time Estimate Cboe Europe 06:55:32 2024-06-12 am EDT 5-day change 1st Jan Change
117.6 GBX -0.04% Intraday chart for Airtel Africa plc -3.58% -9.65%

Valuation

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 1,917 4,108 6,885 4,930 5,008 5,601 - -
Enterprise Value (EV) 1 5,114 7,563 9,801 8,454 5,008 9,327 9,436 8,802
P/E ratio 4.95 x 12.1 x 10.9 x 7.42 x -30.3 x 14.3 x 8.12 x 6.99 x
Yield 11.8% 3.66% 2.73% 4.15% - 4.14% 4.77% 5.11%
Capitalization / Revenue 0.56 x 1.05 x 1.46 x 0.94 x 1.01 x 1.13 x 0.96 x 0.9 x
EV / Revenue 1.49 x 1.94 x 2.08 x 1.61 x 1.01 x 1.88 x 1.61 x 1.41 x
EV / EBITDA 3.38 x 4.22 x 4.24 x 3.28 x 2.06 x 3.93 x 3.45 x 2.83 x
EV / FCF 8.88 x 10.1 x 7.57 x 5.92 x - 8.75 x 8.51 x 9.88 x
FCF Yield 11.3% 9.93% 13.2% 16.9% - 11.4% 11.7% 10.1%
Price to Book 0.57 x 1.2 x 1.97 x 1.36 x - 2.32 x 1.74 x 2.31 x
Nbr of stocks (in thousands) 3,758,152 3,758,152 3,754,452 3,753,219 3,750,747 3,740,167 - -
Reference price 2 0.5101 1.093 1.834 1.313 1.335 1.497 1.497 1.497
Announcement Date 5/13/20 5/12/21 5/11/22 5/11/23 5/9/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026 2027
Net sales 1 3,422 3,908 4,714 5,255 4,979 4,961 5,863 6,229
EBITDA 1 1,515 1,792 2,311 2,575 2,428 2,371 2,733 3,110
EBIT 1 883 1,119 1,535 1,757 1,640 1,543 1,915 2,193
Operating Margin 25.8% 28.63% 32.56% 33.43% 32.94% 31.11% 32.66% 35.2%
Earnings before Tax (EBT) 1 598 697 1,224 1,034 -63 814.9 1,375 1,487
Net income 1 370 339 631 663 -165 406.5 629.1 820.7
Net margin 10.81% 8.67% 13.39% 12.62% -3.31% 8.19% 10.73% 13.17%
EPS 2 0.1030 0.0900 0.1680 0.1770 -0.0440 0.1045 0.1843 0.2143
Free Cash Flow 1 576 751 1,294 1,429 - 1,066 1,108 891
FCF margin 16.83% 19.22% 27.45% 27.19% - 21.49% 18.91% 14.3%
FCF Conversion (EBITDA) 38.02% 41.91% 55.99% 55.5% - 44.95% 40.56% 28.65%
FCF Conversion (Net income) 155.68% 221.53% 205.07% 215.54% - 262.22% 176.2% 108.56%
Dividend per Share 2 0.0600 0.0400 0.0500 0.0545 - 0.0620 0.0715 0.0765
Announcement Date 5/13/20 5/12/21 5/11/22 5/11/23 5/9/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: März 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 S1 2024 Q3 2024 Q4 2025 Q1 2025 Q2 2025 Q3 2025 Q4
Net sales 1 1,219 1,222 1,257 1,308 1,350 1,341 1,377 1,246 2,623 1,238 1,118 1,208 1,299 1,318 1,365
EBITDA 605 608 614 641 661 659 - 620 1,302 - 520 - - - -
EBIT 414 390 425 446 446 439 - - - - - - - - -
Operating Margin 33.96% 31.91% 33.81% 34.1% 33.04% 32.74% - - - - - - - - -
Earnings before Tax (EBT) - - - - - - - - - - - - - - -
Net income 155 190 163 133 172 195 - - - - - - - - -
Net margin 12.72% 15.55% 12.97% 10.17% 12.74% 14.54% - - - - - - - - -
EPS 2 0.0410 0.0510 0.0440 0.0350 0.0460 0.0520 -0.0450 0.0310 - -0.002000 -0.0280 0.0300 0.0300 0.0300 0.0300
Dividend per Share - - - - - - - - - - - - - - -
Announcement Date 2/4/22 5/11/22 7/28/22 10/27/22 2/2/23 5/11/23 7/27/23 10/30/23 10/30/23 2/1/24 5/9/24 - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: März 2020 2021 2022 2023 2024 2025 2026 2027
Net Debt 1 3,197 3,455 2,916 3,524 - 3,726 3,836 3,202
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.11 x 1.928 x 1.262 x 1.369 x - 1.571 x 1.404 x 1.029 x
Free Cash Flow 1 576 751 1,294 1,429 - 1,066 1,109 891
ROE (net income / shareholders' equity) 8.68% 10% 18.3% 18.6% - 13.6% 24.5% 42.5%
ROA (Net income/ Total Assets) 2.83% 3.5% 6.2% 6.16% - 3.13% 5.21% 8.77%
Assets 1 13,064 9,686 10,178 10,765 - 12,987 12,080 9,358
Book Value Per Share 2 0.9000 0.9100 0.9300 0.9700 - 0.6500 0.8600 0.6500
Cash Flow per Share 2 0.3700 0.4400 0.5300 0.5900 - 0.3300 0.3900 0.4700
Capex 1 811 915 717 779 - 891 958 1,006
Capex / Sales 23.7% 23.41% 15.21% 14.82% - 17.96% 16.33% 16.15%
Announcement Date 5/13/20 5/12/21 5/11/22 5/11/23 5/9/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
10
Last Close Price
1.497 USD
Average target price
1.686 USD
Spread / Average Target
+12.57%
Consensus
  1. Stock Market
  2. Equities
  3. AAF Stock
  4. Financials Airtel Africa plc