Airtel Uganda Limited posts 41% profit growth as data revenue overtakes voice in FY2025

Airtel Uganda Limited  has reported a robust financial and operational performance for the full year ended 31 December 2025, underpinned by sustained customer growth, rising data consumption, and continued investment in network expansion. The company’s total customer base grew by 13.9% year-on-year to 19.2 million, while data customers increased by 19.6% to 8.7 million, reflecting deepening digital adoption across the market.

Total revenue rose by 13.3% to Ushs 2,249.7 billion, driven primarily by strong momentum in data services. Data revenue climbed 22.4% to Ushs 1,101.7 billion, overtaking voice to become Airtel Uganda’s largest revenue segment. Voice revenue grew modestly by 4.4% to Ushs 1,057.4 billion, though its contribution to total revenue declined following the interconnect rate cut implemented in September 2024. Overall ARPU declined by 2.1% year-on-year, mainly due to pressure on voice pricing.

Profitability strengthened significantly during the period. EBITDA increased by 24.5% to Ushs 1,235.3 billion, with EBITDA margins expanding by 490 basis points to 54.9%, supported by operating leverage and cost-efficiency initiatives. Profit after tax surged by 41.1% to Ushs 446.9 billion, pushing PAT margins up to 19.9%, compared with 15.9% in the prior year. Basic earnings per share rose to Ushs 11.2 from Ushs 7.9 in 2024.

Airtel Uganda continued to prioritise network investment to support rising data demand and service quality. Capital expenditure increased by 3.3% to Ushs 252.5 billion, enabling the rollout of 258 new 4G sites, the addition of 164 new 5G sites, and the expansion of the fibre network by 1,600 kilometres. As at 31 December 2025, 100% of Airtel Uganda’s sites were 4G-enabled, while the 5G footprint expanded to 364 sites across major cities and towns.

Leverage improved despite higher lease liabilities associated with continued network rollout. Net debt to EBITDA declined to 1.5x from 1.8x a year earlier, while lease-adjusted leverage improved to 0.6x from 0.8x, reflecting strong operating cash flows and disciplined capital allocation.

In line with its progressive dividend policy, the Board declared a final dividend of Ushs 3.55 per share, bringing the total dividend for FY2025 to Ushs 11.15 per share, equivalent to Ushs 446 billion. The final dividend is payable by or before 29 April 2026, subject to shareholder approval.

Commenting on the results, Managing Director Soumendra Sahu said the performance was driven by Airtel Uganda’s focus on customer experience, sustained network investment, and favourable macro-economic conditions in Uganda. He noted that data usage per customer increased by 14.8% during the year, with total data traffic rising by 46.0%, underscoring the growing importance of broadband services in the country’s digital transformation.

Looking ahead, Airtel Uganda said it remains confident about its growth outlook for 2026, with plans to accelerate network deployments, expand fibre and 5G coverage, and explore partnerships, including satellite technologies, to bridge remaining coverage gaps and advance digital and financial inclusion nationwide.

“Through our relentless focus on improving the customer experience, we have reported a 13.3% growth in revenue and a 24.5% growth in EBITDA with EBITDA margins increasing to 54.9%. This was supported by our commitment to continuous improvement of our network and service to our valued customers the reason we exist.”

– Mr. Soumendra Sahu, Managing Director, Airtel Uganda