Airtel Malawi Balance Sheet

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

Millions MWK. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	89,564	55,892	42,264	59,073	38,523
Short-Term Investments	8,755	-	-	-	-
Cash & Short-Term Investments	98,319	55,892	42,264	59,073	38,523
Cash Growth	75.91%	32.24%	-28.45%	53.34%	121.17%
Accounts Receivable	7,891	5,236	4,320	4,752	5,933
Other Receivables	307.37	7,939	4,645	3,882	17,654
Receivables	8,199	13,176	8,965	8,634	23,587
Inventory	4,100	1,325	1,356	278.08	292.72
Prepaid Expenses	-	11,650	7,988	4,530	1,605
Other Current Assets	35,953	19,384	18,036	4,877	3,205
Total Current Assets	146,571	101,426	78,609	77,392	67,212
Property, Plant & Equipment	210,315	164,953	131,425	104,591	83,353
Long-Term Investments	-	81	81	81	81
Other Intangible Assets	11,275	6,189	15.29	195.27	375.25
Long-Term Deferred Tax Assets	32,979	35,150	27,632	3,248	1,496
Long-Term Deferred Charges	-	3,692	1,266	224.43	330.55
Other Long-Term Assets	16,426	15,450	16,530	10,647	7,816
Total Assets	417,566	326,941	255,560	196,378	160,664
Accounts Payable	135,035	59,913	44,749	29,714	13,161
Accrued Expenses	-	4,726	3,683	2,885	1,899
Current Portion of Long-Term Debt	54,128	57,441	55,759	109.28	32.69
Current Portion of Leases	5,326	3,515	3,558	3,170	4,309
Current Income Taxes Payable	-	-	4,276	5,785	7,019
Current Unearned Revenue	8,625	7,634	9,705	9,975	8,131
Other Current Liabilities	13,592	34,510	45,785	33,130	33,073
Total Current Liabilities	216,706	167,739	167,514	84,769	67,625
Long-Term Debt	-	-	-	33,872	32,582
Long-Term Leases	137,830	125,294	98,652	39,933	26,992
Other Long-Term Liabilities	1,666	1,792	-	-	136.65
Total Liabilities	356,202	294,825	266,166	158,575	127,336
Common Stock	1	1	1	1	1
Additional Paid-In Capital	398.38	398.38	398.38	398.38	398.38
Retained Earnings	60,964	31,716	-11,006	37,404	32,929
Shareholders' Equity	61,364	32,116	-10,606	37,803	33,328
Total Liabilities & Equity	417,566	326,941	255,560	196,378	160,664
Total Debt	197,284	186,250	157,968	77,085	63,916
Net Cash (Debt)	-98,966	-130,358	-115,704	-18,012	-25,393
Net Cash Per Share	-9.00	-11.85	-10.52	-1.64	-2.31
Filing Date Shares Outstanding	10,995	11,000	11,000	11,000	11,000
Total Common Shares Outstanding	10,995	11,000	11,000	11,000	11,000
Working Capital	-70,135	-66,312	-88,905	-7,378	-413.53
Book Value Per Share	5.58	2.92	-0.96	3.44	3.03
Tangible Book Value	50,089	25,927	-10,622	37,608	32,953
Tangible Book Value Per Share	4.56	2.36	-0.97	3.42	3.00
Land	-	4,412	4,412	4,412	4,412
Machinery	-	197,372	164,917	148,355	137,871
Construction In Progress	-	9,987	7,773	4,836	1,178
Leasehold Improvements	-	522.98	522.98	475.67	464.82

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.