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Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (9 October 2026). Independent review has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review

Airtel Malawi

AIRTEL · Malawi Stock Exchange · Company statements

On this page
Company details
Legal name
Airtel Malawi plc
Listing
AIRTEL on the Malawi Stock Exchange, active · ISIN MWAIRT001156 (observed 2026-10-08)
Sector
Not classified (our classification from the stated principal activity)
Financial year ends
31 December

Overview

Year ended 31 December 2023 · annual report, signed / final · source

Read with these figures

  • Auditor's emphasis of matter. Emphasis of Matter – Withdrawal of Previously Issued 2023 Financial Statements and Prior Period Restatements: the auditor (Deloitte) draws attention to note 45: the 2023 financial statements on which it reported on 10 April 2024 have been revised and replaced by these statements, because the earlier statements treated the effect of exchange-rate changes on the foreign-currency portion of certain tower leases as a change in index under IFRS 16 rather than under IAS 21; opinion not modified in respect of this matter (p19)
Full wording and sources

  • Auditor's emphasis of matter

    Emphasis of Matter – Withdrawal of Previously Issued 2023 Financial Statements and Prior Period Restatements: the auditor (Deloitte) draws attention to note 45: the 2023 financial statements on which it reported on 10 April 2024 have been revised and replaced by these statements, because the earlier statements treated the effect of exchange-rate changes on the foreign-currency portion of certain tower leases as a change in index under IFRS 16 rather than under IAS 21; opinion not modified in respect of this matter (p19)

    Source: 25th Annual General Meeting of Airtel Malawi PLC Annual General Meeting Pack; Airtel Malawi PLC Annual Report & Financial Statements for the year ended 31 December 2023 (dated 2024-08-30)

  • Revenue

    MWK 194 billion

    193,998,721 MWK thousands · p25

    +26.4% vs 2022

  • Operating profit / (loss)

    MWK 73.2 billion

    73,246,196 MWK thousands · p25

    +14.3% vs 2022

  • Profit / (loss) for the year

    −MWK 15.4 billion

    (15,424,239) MWK thousands · p25

    Moved from profit to loss (FY2022: 31 439 678 MWK thousands)

  • Total assets

    MWK 256 billion

    255,559,700 MWK thousands · p23

    +28.6% vs 2022

  • Total equity

    −MWK 10.6 billion

    (10,606,428) MWK thousands · p23

    −132.8% vs 2022

  • Cash from operations

    MWK 42.9 billion

    42,885,456 MWK thousands · p27

    −47.7% vs 2022

Large amounts are rounded for reading (MWK million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.

Financial statements

Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in MWK thousands unless the row says otherwise; brackets are negative.

† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table

Column sources

  • FY2023 — annual report, signed / final; reported for the year · source
  • FY2022 — annual report, signed / final; comparative in the FY2023 filing · source

Income statement

Income statement, MWK thousands. Columns: FY2023 — annual report (signed / final), as reported for the year; FY2022 — annual report (signed / final), comparative reported in the annual report for 2023.
Line (as printed) FY2023Annual reportreported for the yearFY2022Annual reportcomparative in FY2023 filing
Revenue 193,998,721 153,463,598
Other income/ (loss)1 27,990 (12,685)
Income (unlabelled subtotal)2 194,026,711 153,450,913
Network operation and maintenance3 (39,855,539) (23,400,619)
Sales and marketing expenses4 (17,190,521) (13,828,774)
Employee benefits expenses (*) (7,131,776) (6,176,726)
Access charges5 (3,296,356) (3,543,958)
Other expenses (*)6 (22,103,090) (17,569,936)
License fee and spectrum usage charges7 (12,927,612) (11,178,259)
Impairment loss (charged)/recovered on financial assets (463,555) 740,734
Depreciation and amortisation8 (17,812,066) (14,412,325)
Expenses (unlabelled subtotal)9 (120,780,515) (89,369,863)
Operating profit 73,246,196 64,081,050
Finance costs (*) (98,380,289) (27,498,721)
Finance income 3,361,012 3,001,570
Other non-operating income10 –11 5,344,970
(Loss)/profit before tax (21,773,081) 44,928,869
Income tax credit/(expense) (*) 6,348,842 (13,489,191)
(Loss)/profit and total comprehensive (loss)/income for the year12 (15,424,239) 31,439,678
  1. Printed “-”, read as nil: subtotal_arithmetic: is.profit_before_tax.
Notes and alternative reported figures (11)
  1. “Other income/ (loss)”: mapping to a shared definition is uncertain. Printed 'Other income/ (loss)' (note 26); a loss in 2022.
  2. “Income (unlabelled subtotal)” is an issuer-specific line, not mapped to a shared definition: Unlabelled subtotal under 'Income'.
  3. “Network operation and maintenance” is an issuer-specific line, not mapped to a shared definition: Note 28.
  4. “Sales and marketing expenses” is an issuer-specific line, not mapped to a shared definition: Note 28.
  5. “Access charges” is an issuer-specific line, not mapped to a shared definition: Note 28: interconnect access charges.
  6. “Other expenses (*)”: mapping to a shared definition is uncertain. Printed 'Other expenses' (note 29).
  7. “License fee and spectrum usage charges” is an issuer-specific line, not mapped to a shared definition: Note 30a.
  8. “Depreciation and amortisation” is an issuer-specific line, not mapped to a shared definition: Note 30b: one line.
  9. “Expenses (unlabelled subtotal)”: mapping to a shared definition is uncertain. Unlabelled total of the expense lines printed under 'Expenses' (incl. depreciation, amortisation and impairment).
  10. “Other non-operating income” is an issuer-specific line, not mapped to a shared definition: Below operating profit; nil in 2023.
  11. “(Loss)/profit and total comprehensive (loss)/income for the year”: mapping to a shared definition is uncertain. One printed line for profit or loss and total comprehensive income: the statement states there were no items of other comprehensive income (2022: nil).

Balance sheet

Balance sheet, MWK thousands. Columns: FY2023 — annual report (signed / final), as reported for the year; FY2022 — annual report (signed / final), comparative reported in the annual report for 2023.
Line (as printed) FY2023Annual reportreported for the yearFY2022Annual reportcomparative in FY2023 filing
Property, plant and equipment 72,582,812 66,154,743
Intangible assets 28,686 340,848
Right-of-use assets 58,842,642 38,436,487
Deferred tax asset (*) 27,632,096 5,599,140
Other non-current assets1 17,782,985 10,725,495
Investment2 81,000 81,000
Total non-current assets 176,950,221 121,337,713
Inventories 1,356,123 278,084
Trade and other receivables 6,827,929 7,712,084
Cash and cash equivalents 42,264,053 59,072,915
Other current assets3 28,161,374 10,328,617
Total current assets 78,609,479 77,391,700
Total assets 255,559,700 198,729,413
Share capital 1,000 1,000
Share premium 398,375 398,375
(Accumulated losses)/retained earnings (*) (11,005,803) 31,918,436
Total Shareholders’ (deficit)/equity (10,606,428) 32,317,811
Lease liabilities (*) 98,651,640 47,522,899
Total non-current liabilities 98,651,640 47,522,899
Borrowings (*) 55,758,596 33,981,639
Lease liabilities (*) 3,557,877 3,416,846
Deferred spectrum liabilities4 –5 201,028
Provisions 3,206,740 2,514,042
Trade and other payables 73,122,513 46,709,702
Contract liabilities 9,704,588 9,975,227
Income tax payable 4,276,435 5,784,950
Other current liabilities6 17,887,739 16,305,269
Total current liabilities 167,514,488 118,888,703
Total liabilities 266,166,128 166,411,602
Total equity and liabilities 255,559,700 198,729,413
  1. Printed “-”, read as nil: subtotal_arithmetic: bs.current_liabilities.
Notes and alternative reported figures (5)
  1. “Other non-current assets” is an issuer-specific line, not mapped to a shared definition: Note 9: deferred customer acquisition costs and other.
  2. “Investment” is an issuer-specific line, not mapped to a shared definition: Note 10: investment in National Switch Ltd (FVTPL).
  3. “Other current assets” is an issuer-specific line, not mapped to a shared definition: Note 13.2.
  4. “Deferred spectrum liabilities” is an issuer-specific line, not mapped to a shared definition: Note 18: current; nil at 31 December 2023.
  5. “Other current liabilities” is an issuer-specific line, not mapped to a shared definition: Note 21.

Cash flow

Cash flow, MWK thousands. Columns: FY2023 — annual report (signed / final), as reported for the year; FY2022 — annual report (signed / final), comparative reported in the annual report for 2023.
Line (as printed) FY2023Annual reportreported for the yearFY2022Annual reportcomparative in FY2023 filing
(Loss)/profit Before taxation1 (21,773,081) 44,928,869
Depreciation & amortization2 17,812,066 14,412,325
Interest income3 (3,361,012) (3,001,570)
Unrealised exchange losses (*)4 65,890,468 16,515,450
Other non -operating income5 –6 (5,344,970)
Movement in Provisions7 692,698 1,059,946
(Profit)/loss on disposal of plant and equipment8 (22,414) 12,180
Finance cost9 17,839,782 6,705,805
Operating cash flow before working capital changes10 77,078,507 75,288,035
Decrease in trade and other receivables11 1,895,898 15,294,369
(Increase)/decrease in inventory12 (1,078,039) 14,638
Increase in other assets13 (24,890,247) (7,795,963)
Increase in trade and other payables14 7,243,766 16,139,481
(Decrease)/increase in other liabilities15 (171,800) 1,825,902
Net cash generated from operations before tax 60,078,085 100,766,461
Income tax paid (17,192,629) (18,826,198)
Net cash generated from operating activities 42,885,456 81,940,263
Purchase of plant and equipment (17,241,415) (15,831,169)
Interest received 3,361,012 3,001,570
Proceeds from sale of property, plant and equipment 22,414 532,781
Net cash used investing activities (13,857,989) (12,296,818)
Repayment of borrowings – principal (165,121) (5,489,519)
Repayment of borrowings – interest16 (3,055,840) (1,340,498)
Other finance costs17 (5,107,297) (3,677,075)
Dividends paid (26,016,367) (32,058,690)
Repayment of spectrum liability – principal18 (207,175) (166,252)
Repayment of spectrum liability – interest19 (7,426) (15,549)
Lease write back20 (5,576) (2,127)
Repayment of lease liability – principal (1,590,477) (4,671,107)
Repayment of lease liability – interest (9,681,050) (1,672,684)
Net cash used in financing activities (45,836,329) (49,093,501)
Net (decrease)/increase in cash & cash equivalents (16,808,862) 20,549,944
Cash & cash equivalents at the beginning of the year 59,072,915 38,522,971
Cash & cash equivalents as at the end of the year 42,264,053 59,072,915
  1. Printed “-”, read as nil: subtotal_arithmetic: cf.native.co_t20z4k00t250.cf_operating_before_working_capital.
Notes and alternative reported figures (19)
  1. “(Loss)/profit Before taxation” is an issuer-specific line, not mapped to a shared definition: Opening line of the operating section.
  2. “Depreciation & amortization” is an issuer-specific line, not mapped to a shared definition: Adjustment, note 30b.
  3. “Interest income” is an issuer-specific line, not mapped to a shared definition: Adjustment, note 27.
  4. “Unrealised exchange losses (*)” is an issuer-specific line, not mapped to a shared definition: Adjustment.
  5. “Other non -operating income” is an issuer-specific line, not mapped to a shared definition: Adjustment; nil in 2023.
  6. “Movement in Provisions” is an issuer-specific line, not mapped to a shared definition: Adjustment.
  7. “(Profit)/loss on disposal of plant and equipment” is an issuer-specific line, not mapped to a shared definition: Adjustment, note 26.
  8. “Finance cost” is an issuer-specific line, not mapped to a shared definition: Adjustment, note 32.
  9. “Operating cash flow before working capital changes” is an issuer-specific line, not mapped to a shared definition: Subtotal.
  10. “Decrease in trade and other receivables” is an issuer-specific line, not mapped to a shared definition: Working capital change.
  11. “(Increase)/decrease in inventory” is an issuer-specific line, not mapped to a shared definition: Working capital change.
  12. “Increase in other assets” is an issuer-specific line, not mapped to a shared definition: Working capital change.
  13. “Increase in trade and other payables” is an issuer-specific line, not mapped to a shared definition: Working capital change.
  14. “(Decrease)/increase in other liabilities” is an issuer-specific line, not mapped to a shared definition: Working capital change.
  15. “Repayment of borrowings – interest”: mapping to a shared definition is uncertain. Printed 'Repayment of borrowings – interest' (note 16) in financing activities.
  16. “Other finance costs” is an issuer-specific line, not mapped to a shared definition: Financing activities.
  17. “Repayment of spectrum liability – principal” is an issuer-specific line, not mapped to a shared definition: Financing activities, note 18.
  18. “Repayment of spectrum liability – interest” is an issuer-specific line, not mapped to a shared definition: Financing activities, note 18.
  19. “Lease write back” is an issuer-specific line, not mapped to a shared definition: Financing activities, note 26.

Per share and shares

Per share and shares. Columns: FY2023 — annual report (signed / final), as reported for the year; FY2022 — annual report (signed / final), comparative reported in the annual report for 2023.
Line (as printed) FY2023Annual reportreported for the yearFY2022Annual reportcomparative in FY2023 filing
Earnings / (loss) per share (per share)1 (1.40) 2.86
Notes and alternative reported figures (1)
  1. Earnings / (loss) per share: printed as “Basic and diluted (loss)/earnings per share (K) (*)”.

Segments

Segment data not yet collected for this company in the pilot.

Dividends

Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.

Dividend events, the issuer's wording, and amounts as printed
Year endedEventWording as printedAmountUnitSource
31 Dec 2023 Dividends paid (cash flow statement) Dividends paid (26,016,367) MWK thousands Annual report, p28
31 Dec 2022 Dividends paid (cash flow statement) Dividends paid (32,058,690) MWK thousands Annual report, p28

Sources

Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.

  • 25th Annual General Meeting of Airtel Malawi PLC Annual General Meeting Pack; Airtel Malawi PLC Annual Report & Financial Statements for the year ended 31 December 2023

    Year ended 31 December 2023 · Annual report · signed / final

    Audit: Deloitte (Malawi), Chartered Accountants, Blantyre, unmodified opinion · signed

    Auditor's sign-off: Chartered Accountants (handwritten 'Deloitte'); Christopher Kapenda, Partner

    Final status: Independent auditor's report to the shareholders of Airtel Malawi Plc (PDF pp19-22; Deloitte letterhead on p19), unmodified opinion with an emphasis of matter on the withdrawal and re-issue of the 2023 statements and prior period restatements (note 45); closed by a handwritten 'Deloitte' signature over 'Chartered Accountants, Christopher Kapenda, Partner, 30 August 2024' (PDF p22, page image). The statements were approved and authorised for issue by the Board on 26 August 2024 and signed by the Chairperson, Dr. Ngeyi Ruth Kanyongolo, and the Managing Director, Mr Charles Kamoto, with handwritten signatures (PDF p24, page image); the statement of directors' responsibilities (PDF p18) is dated 29th August, 2024.

    Document date
    30 Aug 2024
    Published
    27 Sep 2024
    Auditor's report
    30 Aug 2024
    Board approval
    26 Aug 2024
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY2023, FY2022
    Basis
    company statements · MWK thousands (printed “K’000”)
    • Statement of cash flows, 2022 column: 'Net cash generated from operations before tax' is printed 100 766 461 while its printed components add to 100 766 462 (one thousand kwacha rounding; passes within rounding). Kept as printed.
    • Printed dashes: 'Other non-operating income' 2023 (p25 and p27) and 'Deferred spectrum liabilities' 31 December 2023 (p24); read as nil by subtotal arithmetic.
    • Total income (194 026 711; 2022: 153 450 913) and total expenses ((120 780 515); 2022: (89 369 863)) are unlabelled subtotals (p25). Profit or loss and total comprehensive income are one printed line; the statement says there were no items of other comprehensive income (2022: nil).
    • Total shareholders' equity is a deficit at 31 December 2023 ((10 606 428)) after the 2023 loss and dividends.
    • These are revised 2023 statements: the auditor's report states that the statements first issued with a report dated 10 April 2024 were revised and replaced because foreign-currency tower lease remeasurement had been treated as an index change under IFRS 16 rather than under IAS 21 (note 45). The 2022 comparative columns are headed 'Restated*' (notes 45 and 46) and are marked restated.
    • AGM pack: notice and agenda (PDF pp4-6), minutes of the 24th AGM (pp7-10), annual report and financial statements (pp11-90: directors' report, responsibilities statement p18, auditor's report pp19-22, statements pp23-28, notes pp28-90), proposed resolutions and proxy forms (pp91-96).
    Technical details
    File
    96 pages, with a text layer
    SHA-256
    56daabe7e58a7609380652ec1c6aa385e3e8dd329718c0e6f48606156c37d34f
    Entity as printed
    Airtel Malawi Plc (the Company)
    Exchange copy
    retrieved 2026-10-08T18:08:00Z

Data notes

No figure-level notes beyond those in the tables.

Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (9 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.

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