Data Boom, Subscriber Growth Lift Airtel Uganda Earnings in 2025

Airtel Uganda's revenue rose 13.3% to Ushs 2.25 trillion in 2025 as rising data usage and a fast-growing customer base lifted earnings, and cash flows.,

• •The telco's operating profit climbed 35% to Ushs 849.2 billion, pushing the operating margin to 37.7% from 31.7% a year earlier.
• •Profit after tax rose 41.1% to Ushs 446.9 billion, supported by scale benefits and disciplined cost control, even as network-related costs and depreciation increased following continued expansion.
• •Airtel Uganda’s customer base has expanded by 19.2%.

Growth was increasingly driven by data with the later and value-added services generating Ushs 1,101.7 billion during the year, accounting for about 49% of total revenue, up from 45.3% in 2024. The telco attributed the shift to higher data consumption, wider smartphone adoption, and a growing preference for bundled services.

Voice revenue, including interconnect, edged up 3.1% to Ushs 1,026.8 billion, showing that traditional services remained stable despite competitive pricing pressure.

Net cash from operating activities rose to Ushs 1.01 trillion from Ushs 880.0 billion in 2024, reflecting strong earnings conversion. After investment outflows, free cash flow was estimated at about Ushs 775 billion, providing room to fund dividends and meet financing obligations.

Total market debt edged down to Ushs 645.0 billion, while lease liabilities continued to account for a significant share of funding, consistent with the capital-light structure of telecom operators.

The board proposed a final dividend of Ushs 3.55 per share, up from Ushs 2.50 in the prior year, signalling confidence in earnings visibility and cash flow sustainability.

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