Q1 2025 IHS Holding Ltd Earnings Call Transcript
Key Points
- IHS Holding Ltd (IHS) reported a strong start to 2025 with solid growth across key metrics such as revenue, adjusted EBITDA, and ALFCF, while reducing total CapEx.
- The company achieved 26% organic revenue growth, driven by increased revenues from co-location, lease amendments, new sites, and CPI escalators.
- Adjusted EBITDA reached $253 million with a margin of 57.5%, marking a significant improvement compared to the previous year.
- IHS Holding Ltd (IHS) successfully reduced its consolidated net leverage ratio to 3.4 times, down from 3.7 times at the end of 2024.
- The company announced the sale of IHS Rwanda for an enterprise value of $274.5 million, achieving a transaction multiple of 8.3 times adjusted EBITDA, which is higher than the IHS Group multiple.
- The company faced a decline in both towers and tenants by approximately 3% and 1% respectively, year over year, primarily due to the divestitures of towers in Kuwait and Peru.
- The impact of the renewed and extended contracts with MTN Nigeria, including associated site churn, continues to affect comparisons.
- Revenue growth was partially offset by the 14% depreciation of the Nigerian Naira against the Dollar.
- The company anticipates a step down in ALFCF in the second quarter due to the timing of interest payments and maintenance CapEx plans.
- The sale of IHS Rwanda, while beneficial, indicates a strategic shift that may reduce future growth opportunities in that market.
Good day and welcome to the IHS Holding Limited first quarter of 2025 earning results call for a three-month period ended March 301, 2025. Please note that today's conference is being webcast and recorded. If you'd like to ask a question, please press star and then one on your telephone keypad at any time. At this time, I'd like to turn the conference over to Robert Berg. Please go ahead, sir.
Thank you, operator. Thanks everyone for joining the call today. I'm Robert Berg, Head of Investor Relations here at IHS. With me today are Sam Darwish, our Chairman and CEO, and Steve Howden, our CFO.
This morning, we filed our unaudited, condensed, consolidated interim financial statements for the three-month period ended March 30, 2025, with the SEC, which can also be found on the Investor Relations section of our website and issued a related earnings release, presentation, and supplemental debt. These are the consolidated results of IHS Holding Limited, which is listed on the New York Stock
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