Tanzania boosts AXIAN Telecom results in Q1
May 31st 2023
Madagascar-based, Mauritius-registered group AXIAN Telecom has reported revenues of USD240.6 million for the first three months of 2023, up from USD130.2 million in Q1 2022. The growth was mainly due to the acquisition of a 98.5% stake in Millicom Tanzania (Tigo) in April 2022, which contributed USD101.2 million. The bulk of the remaining organic growth came from the group’s operations in Madagascar (up USD7.7 million year-on-year) and Uganda (up USD2.5 million). Adjusted EBITDA increased from USD68.6 million in the first quarter of 2022 to USD108.2 million in Q1 2023.
Revenue generating subscriptions numbered 31.2 million at the end of March 2023, up 18.3 million in twelve months, boosted by a gain of 14.9 million subscriptions from the MIC Tanzania acquisition. Active data subscriptions increased by 4.1 million to 7.3 million.
AXIAN Telecom is active via subsidiaries and affiliates in Tanzania, Madagascar, Togo, Uganda, Democratic Republic of Congo (DRC), Senegal, Reunion, Mayotte and Comoros.
Back