Airtel Mobile Commerce NV · LSE:AMC
Airtel Mobile Commerce NV — H1 2027 Earnings Presentation
31 slides from Airtel Mobile Commerce NV's earnings presentation, Oct 6, 2026
Slide 1: Airtel Mobile Commerce N.V. Results Presentation
Airtel Mobile Commerce N.V. Results Presentation Results for the half year ended 30 September 2026
Slide 2: Disclaimer
Disclaimer Important Information By reading this presentation you agree to be bound by the following conditions. The information contained in the presentation is in relation to Airtel Mobile Commerce N.V. ("AMC“ or “Airtel Money”) and its subsidiaries has been prepared solely for use at this present
Slide 3: Presenters
Presenters Ian Ferrao Alok Bafna Chief Executive Officer Chief Financial Officer
Slide 4: Airtel Money is now listed on the London Stock Exchange
A NEW CHAPTER Airtel Money is now listed on the London Stock Exchange Beginning our journey as a listed company London Stock Exchange Main Market · 14 October 2026 £1.96 £5.3bn 14 Oct 2026 Thank you to our customers, agents, merchants, partners and colleagues – and Offer price per share Market capit
Slide 5: A Digitally Connected Africa Simplifying Lives and Empowering Communities
OUR VISION A Digitally Connected Africa OUR MISSION Simplifying Lives and Empowering Communities OUR GOAL To Be Africa’s Leading FinTech Platform 5
Slide 6: A Scaled FinTech Platform Across African Markets
A Scaled FinTech Platform Across 13 African Markets CAPTIVE CUSTOMER BASE AND MULTI -SIDED NETWORK Airtel Money Footprint Penetration of telco Customers(1) Active agents base(2) 56.7m 42.9% 2.4m Niger Chad Uganda ▲ +18.7% year-on-year ▲ +3.2pp year-on-year ▲ +26.3% year-on-year Sep’25: 39.7% Gabon K
Slide 7: H1'27 Highlights: Strong First-Half Performance
H1’27 Highlights: Strong First-Half Performance Operating highlights Growing, increasingly digital customer base Strong customer acquisition in both regions, with rising app adoption deepening engagement Customers transacting more Deeper engagement and a broadening product ecosystem drove strong gro
Slide 8: Consistent, Profitable Growth with an Expanding Ecosystem
Consistent, Profitable Growth with an Expanding Ecosystem CONSISTENT GROWTH AND PROFITABILI TY (H1’27) Revenue Underlying EBITDA Profit after tax Operating free cash flow(1) $830m $398m $228m $378m ▲ +34.0% reported ▲ +26.4% reported ▲ +21.6% reported ▲ +27.1% reported +25.1% constant currency +16.1
Slide 9: Higher TPV per Customer Driving ARPU
Higher TPV per Customer Driving ARPU TRANSACTION ACTI VITY DIGITAL ENGAGEMENT Total processed value TPV per customer App-transacting customers(1) $128bn $397/month 4.1m ▲ +46.1% reported / +36.8% constant currency ▲ +22.7% reported / +14.9% constant currency ▲ +64.3% year-on-year 4.1m $128bn $397 2.
Slide 10: On Track to Deliver FY'27 Guidance
On Track to Deliver FY’27 Guidance KPI FY’27 guidance Actual H1’27 and change YoY Status Revenue growth Mid-20s % $830m constant currency revenue growth +25.1% year-on-year (CC) Underlying EBITDA Moderate by up to c.2 pp 48.0% margin relative to FY’26 margin of 50.2% (2.2pp) from FY’26 Capex intensi
Slide 11: Financial review
Financial review * 34222254546 ? airtel money
Slide 12: Strong momentum in financial performance continues
Strong momentum in financial performance continues Revenue Gross profit Underlying EBITDA $830m $499m $398m Reported currency +34.0% Reported currency +31.3% Reported currency +26.4% Constant currency +25.1% Constant currency +22.0% Constant currency +16.1% Underlying EBITDA margin Profit after tax
Slide 13: Strong Revenue Growth in Both East and Francophone Africa
Strong Revenue Growth in Both East and Francophone Africa +34.0% growth in reported currency +25.1% constant currency growth 40.6% RC 31.7% RC 40.2% CC 20.5% CC +62 830 +148 620 H1’26 East Africa Francophone Africa H1’27 Reported growth of 34.0% ahead of CC, mainly on Zambian kwacha appreciation $m,
Slide 14: East Africa: A Scaled Franchise with Revenue Up 31.7% (RC)
East Africa: A Scaled Franchise with Revenue Up 31.7% (RC) Six-Market East African Footprint… …Delivering Strong Results… …with Continued Momentum Customer base up 13.5% to 44.1m, driven by the 49.7% increasing scale of the distribution network Telco customer base penetration(1), +2.4pp TPV per cust
Slide 15: Francophone Africa: Revenue Up 40.6% (RC) with Room to Grow
Francophone Africa: Revenue Up 40.6% (RC) with Room to Grow Seven-Market Francophone Footprint… …Delivering Strong Growth… …with Significant Headroom for Growth Customer base up 41.9% to 12.6m, driven by the 29.0% increasing scale of the distribution network Telco customer base penetration(1), +5.6p
Slide 16: Continued Strong Growth in Core Services; Retention Revenue Phases Out
Continued Strong Growth in Core Services; Retention Revenue Phases Out +34.0% growth in reported currency +$166m (+25.1%) constant currency growth 36.7% RC 38.0% RC 55.9% RC (35.0%) RC 27.6% CC 29.4% CC 44.8% CC (40.7%) CC +45 830 +81 +12 (16) +88 620 H1’26 Wallet services Payments & Financial servi
Slide 17: Underlying EBITDA Up 26.4% (RC); Margin in Line with Guidance
Underlying EBITDA Up 26.4% (RC); Margin in Line with Guidance +26.4% growth in reported currency +$55m (+16.1%) constant currency growth +166 (76) (35) +28 398 315 Margin 48.0% Margin 50.8% Note: Of the 286bps margin decline, c.270 bps reflects the intra-group agreement (IGA) change, which had an in
Slide 18: Underlying EBITDA of $398m Delivers $213m Net Profit to Owners
Underlying EBITDA of $398m Delivers $213m Net Profit to Owners Net profit to owners: $213m (+21.1%) Profit after tax: $228m (+21.6%) 398 (19) (6) (18) +5 360 (132) 228 (15) 213 Margin Margin 27.6% 25.7% Underlying D&A Exceptional Finance cost Hyperinflation Profit before Tax Profit after tax Minorit
Slide 19: Basic EPS Up 21.1% to 7.9 US cents, Driven by Operating Profit
Basic EPS Up 21.1% to 7.9 US cents, Driven by Operating Profit Basic EPS: 7.9 US cents +21.1% year-on-year +2.6 +0.1 (1.0) +0.3 (0.5) (0.1) 7.9 +0.2 8.1 6.5 H1’26 Operating Interest Other Hyper- Tax & Minority H1’27 Exceptional H1’27 EPS Basic EPS profit income finance cost inflation others interest
Slide 20: Highly Cash Generative: 48% of EBITDA Converted into FCF
Highly Cash Generative: 48% of EBITDA Converted into FCF 398 (20) (156) (16) (13) (4) 189 Pre-tax cash conversion 94.9% Operating FCF as % of underlying EBITDA H1’27 Underlying Cash capex Income tax (incl. Cash interest & Minority dividend Change in working Free cash flow (H1’26: 94.4%) EBITDA divid
Slide 21: Strategic and operational review
Strategic and operational review
Slide 22: Young, Under-Banked and Going Digital: A Long Growth Runway
Young, Under-Banked and Going Digital: A Long Growth Runway 6.5% US$ GDP CAGR, 2026–30E(1) vs 4.6% in developed markets (2) 18.6 Median age, 2024 vs 42.6 in developed markets(2) 36% Urban population, 2025 vs 78% in developed markets(2) Low banking penetration % of adults with a bank account, 2024(3)
Slide 23: Six Clear Priorities to Build Africa's Leading FinTech Platform
Six Clear Priorities to Build Africa’s Leading FinTech Platform Drive App Usage and Acquire Quality Customers 01 02 Add engaged, multi-product active users Customer Experience Digital-first journeys that lift engagement Expand Product Extend Distribution Ecosystem 06 03 Network Lending, insurance, s
Slide 24: Strategy in Action: Customers, App Usage and Distribution
Strategy in Action: Customers, App Usage and Distribution 01 02 03 Acquire Quality Drive App Usage Extend Distribution Customers and Customer Network Experience 56.7m 42.9% 4.1m +100% 2.4m 43k Customer base (monthly Penetration of telco App-transacting App transaction value Active agents Airtel Mone
Slide 25: Strategy in Action: Merchants, Enterprise and Ecosystem
Strategy in Action: Merchants, Enterprise and Ecosystem 04 Accelerate Merchant Network 05 06 Build Enterprise Expand Product Payments Ecosystem Merchant app Airtel Money QR Soundbox $39m 4.7% 587k Omnichannel Enterprise portal Biller migration Financial services revenue Share of revenue Active merch
Slide 26: Product Principles: Built for Speed, Security and Simplicity
Product Principles: Built for Speed, Security and Simplicity 01 02 03 04 Digital First Approach Customer Insight Led Security by Design Simplicity at the Core Build for best app experience Solve problems vs change Fraud and compliance – never Intuitive, no explanation needed request delivery an afte
Slide 27: Multi-Year Shift in Mix Towards Payments and Financial Services
Multi-Year Shift in Mix Towards Payments and Financial Services Evolution of Revenue Mix Across Airtel Money’s Core Products H1’27 $m RC growth Mix Wallet Services 408 +36.7% 49.2% Cash-in (deposits) and cash-out (withdrawals) Payments & Transfers 360 +38.0% 43.3% P2P, recharges, bills, merchant and
Slide 28: Conclusion
Conclusion ? airtel money
Slide 29: Well Positioned for Sustainable, Profitable Growth
Well Positioned for Sustainable, Profitable Growth Compelling growth runway Low financial inclusion across our 13-market footprint; 42.9% penetration of the telco customer base with over 75m telco subscribers still to reach Scaled, profitable and cash generative Revenue of $830m, +34.0% reported and
Slide 30: Investor Relations Update
Investor Relations Update Upcoming events • H1’27 results: 26 October 2026 • Q3’27 results: End of Jan 2027 • FY’27 results: May 2027 Investor conferences • Conference schedule tbc • Open to suggestions for conferences, roadshows and investor meetings Andreas Goldau, CFA Contact Investor Relations H
Slide 31: Q&A Thank you
Q&A Thank you ? airtel money
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