Airtel Malawi Income Statement

Financials in millions MWK. Fiscal year is January - December.

Millions MWK. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	316,935	270,967	193,999	153,464	131,769	110,233
Revenue Growth (YoY)	40.31%	39.67%	26.41%	16.46%	19.54%	18.76%
Cost of Revenue	109,408	89,358	63,211	44,303	39,656	35,417
Gross Profit	207,528	181,609	130,787	109,161	92,113	74,816
Selling, General & Admin	35,127	28,177	17,191	13,829	12,080	7,439
Other Operating Expenses	37,518	33,808	22,067	16,564	14,256	15,582
Operating Expenses	100,554	87,407	57,533	44,064	40,986	38,512
Operating Income	106,974	94,202	73,254	65,097	51,127	36,304
Interest Expense	-23,848	-23,415	-13,526	-6,706	-2,564	-2,063
Interest & Investment Income	6,585	4,600	3,361	3,002	1,864	891.63
Currency Exchange Gain (Loss)	-16,983	-19,462	-84,704	-12,790	-5,626	-3,560
Other Non Operating Income (Expenses)	-403.97	-403.97	-150.26	5,179	-24.27	-26.09
EBT Excluding Unusual Items	72,325	55,522	-21,765	53,781	44,776	31,547
Gain (Loss) on Sale of Assets	-	-	-	-	1,429	14.36
Legal Settlements	-147.82	-147.82	-13.6	-1,015	-	-
Other Unusual Items	26.97	26.97	5.58	-0.51	-	177.47
Pretax Income	72,204	55,401	-21,773	52,765	46,217	31,739
Income Tax Expense	28,403	12,679	-6,349	15,840	13,882	9,646
Net Income	43,801	42,722	-15,424	36,925	32,335	22,093
Net Income to Common	43,801	42,722	-15,424	36,925	32,335	22,093
Net Income Growth	-	-	-	14.20%	46.36%	38.88%
Shares Outstanding (Basic)	11,000	11,000	11,000	11,000	11,000	11,000
Shares Outstanding (Diluted)	11,000	11,000	11,000	11,000	11,000	11,000
EPS (Basic)	3.98	3.88	-1.40	3.36	2.94	2.01
EPS (Diluted)	3.98	3.88	-1.40	3.36	2.94	2.01
EPS Growth	-	-	-	14.20%	46.36%	38.88%
Free Cash Flow	72,750	52,164	21,475	66,109	33,624	22,151
Free Cash Flow Per Share	6.61	4.74	1.95	6.01	3.06	2.01
Dividend Per Share	2.000	2.000	-	2.500	2.950	2.100
Dividend Growth	-	-	-	-15.25%	40.48%	68.00%
Gross Margin	65.48%	67.02%	67.42%	71.13%	69.91%	67.87%
Operating Margin	33.75%	34.77%	37.76%	42.42%	38.80%	32.93%
Profit Margin	13.82%	15.77%	-7.95%	24.06%	24.54%	20.04%
Free Cash Flow Margin	22.95%	19.25%	11.07%	43.08%	25.52%	20.09%
EBITDA	126,605	110,382	86,554	75,912	61,781	47,423
EBITDA Margin	39.95%	40.74%	44.62%	49.47%	46.88%	43.02%
D&A For EBITDA	19,631	16,179	13,299	10,815	10,654	11,119
EBIT	106,974	94,202	73,254	65,097	51,127	36,304
EBIT Margin	33.75%	34.77%	37.76%	42.42%	38.80%	32.93%
Effective Tax Rate	39.34%	22.89%	-	30.02%	30.04%	30.39%
Revenue as Reported	317,040	271,089	194,027	153,451	135,074	111,317

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.