Airtel Malawi Financial Statements

Airtel Malawi Financial Statements

Airtel Malawi Financial Statements. Airtel Malawi is a leading mobile telecommunications company connecting millions of Malawians to the world through unrivalled data and voice solutions, as well as high speed, fixed broadband internet services. Airtel also offers the largest mobile money service in the country through Airtel Money.

Airtel Malawi is a subsidiary of Bharti Airtel International, which operates in 14 countries across Africa and Asia. As part of a global business, Airtel Malawi benefits from economies of scale, shared experience of other operations and guidance from our parent company.

Statement of Comprehensive Income

Income
Operating revenue 110,233 92,824
Other income 1,083 2,574
111,316 95,398
Expenses
Operating expenses (34,119) (28,455)
Other expenses (16,451) (18,232)
License fee & spectrum usage charges ( 8,738) ( 7,577)
Depreciation and amortization (14,622) (11,300)
(73,930) (65,564)
Operating profit 37,386 29,834

Finance cost (2,089) (3,246)
Foreign exchange loss (3,560) (1,357)

Profit before tax 31,737 25,231
Income tax expense (9,646) (9,322)

Profit and total comprehensive income for the year 22,091 15,908
Basic and diluted earnings per share (K) 2.01 1.45

Statement of Financial Position

ASSETS
Non-current assets
Property, plant and equipment 65,933 61,678
Intangible assets 963 735
Right of use asset 16,380 11,177
Deferred tax asset 962 1,043
Other non-current assets 6,247 7,453
Investment 81 81
Total non-current assets 90,566 82,168

Statement of change in Equity

Share capital Share premium Retained earnings Total
K million K million K million K million
Year ended 31 December 2020
At beginning of the year 1 398 15,351 15,750
Dividend declared for 2019 profit – – (13,750) (13,750)
Total comprehensive income for the year – – 22,091 22,091

At end of the year 1 398 23,692 24,091

Statement of Cash Flows

Cash flows from operating activities

Profit before taxation 31,737 25,231
Adjustments for:
Depreciation & amortization 14,621 11,300
Interest income (892) (157)
Unrealised exchange losses 3,237 509
Another financial liability is written back (177) –
Movement in provisions 140 204
(Profit)/Loss on disposal of plant and equipment (15) (2,088)
Finance cost 2,066 3,200
Operating cash flow before working capital changes 50,717 38,199

CONTACT ADDRESS

Send us e-mail on customercare@mw.airtel.com or fill a Contact Us form

Call on our toll-free helpline 121 from an Airtel mobile.

Write to us on P. O. Box 57, Lilongwe

Visit us at  Airtel Complex, Chilembwe Road, Lilongwe.

The official number used to contact winners: +265121.

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