Airtel Africa Cash Flow Statement

Financials in millions USD. Fiscal year is April - March.

Millions USD. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021
Net Income	536	220	-165	663	631	339
Depreciation & Amortization	986	829	786	818	744	681
Other Amortization	2	2	2	-	-	-
Loss (Gain) on Equity Investments	-1	-	-	-	-	-1
Other Operating Activities	1,009	928	1,461	699	605	571
Change in Accounts Receivable	1	-30	-79	-45	-18	-8
Change in Inventory	8	1	-16	-13	4	-4
Change in Accounts Payable	99	69	56	9	34	-38
Change in Unearned Revenue	55	15	21	37	27	16
Change in Other Net Operating Assets	254	232	193	61	-16	110
Operating Cash Flow	2,949	2,266	2,259	2,229	2,011	1,666
Operating Cash Flow Growth	39.37%	0.31%	1.35%	10.84%	20.71%	20.11%
Capital Expenditures	-667	-736	-868	-779	-717	-645
Divestitures	-	-	-	-	250	-
Sale (Purchase) of Intangibles	-102	-123	-161	-502	-22	-270
Investment in Securities	-200	271	-232	224	-87	-257
Other Investing Activities	20	26	33	31	19	14
Investing Cash Flow	-949	-562	-1,228	-1,026	-557	-1,158
Long-Term Debt Issued	-	1,383	713	906	973	407
Total Debt Issued	1,216	1,383	713	906	973	407
Long-Term Debt Repaid	-	-1,622	-874	-1,297	-2,366	-473
Total Debt Repaid	-1,279	-1,622	-874	-1,297	-2,366	-473
Net Debt Issued (Repaid)	-63	-239	-161	-391	-1,393	-66
Repurchase of Common Stock	-79	-120	-11	-8	-6	-4
Common Dividends Paid	-246	-229	-212	-195	-169	-169
Other Financing Activities	-1,026	-955	-460	-545	-39	-336
Financing Cash Flow	-1,414	-1,543	-844	-1,139	-1,607	-575
Foreign Exchange Rate Adjustments	63	-1	-128	-70	-3	-17
Net Cash Flow	649	160	59	-6	-156	-84
Free Cash Flow	2,282	1,530	1,391	1,450	1,294	1,021
Free Cash Flow Growth	75.13%	9.99%	-4.07%	12.06%	26.74%	39.67%
Free Cash Flow Margin	37.96%	30.74%	27.82%	27.52%	27.39%	26.05%
Free Cash Flow Per Share	0.62	0.41	0.37	0.39	0.34	0.27
Cash Interest Paid	811	670	440	400	370	317
Cash Income Tax Paid	381	323	344	397	293	195
Levered Free Cash Flow	1,140	946.75	415.13	622.88	656.63	275.88
Unlevered Free Cash Flow	1,638	1,344	687	849.13	850.38	467.13
Change in Working Capital	417	287	175	49	31	76

Source: S&P Global Market Intelligence. Standard template. Financial Sources.