Q4 2024 IHS Holding Ltd Earnings Call Transcript
Key Points
- IHS Holding Ltd (IHS) reported strong financial performance in 2024, with key metrics such as revenue, adjusted EBITDA, and ALFCF exceeding guidance.
- The company achieved 48% organic revenue growth, driven by 6.5% constant currency growth and benefits from Forex resets and power indexation.
- Adjusted EBITDA reached $928 million in 2024, with a margin of 54.3%, up 100 basis points from 2023, highlighting financial resilience.
- IHS Holding Ltd (IHS) successfully reduced its net leverage ratio to 3.7 times by the end of 2024, down from 3.9 times in Q3 2024.
- The company made significant progress in strategic initiatives, including extending commercial contracts with key customers and completing asset disposals, such as the sale of its Kuwait operations.
- Revenue in the fourth quarter of 2024 declined by approximately 14% year-on-year due to Forex challenges and new financial terms with MTN Nigeria.
- Adjusted EBITDA decreased by 10% year-on-year, impacted by Forex volatility and higher interest costs following bond refinancing.
- The company's CapEx investment decreased by 37% in Q4 and 56% for the year, reflecting a pullback in CapEx across all segments.
- IHS Holding Ltd (IHS) faces ongoing challenges with currency devaluation, particularly in Nigeria, which affected financial results.
- The company is still in the process of asset disposals, with a target of raising $500 million to $1 billion, indicating ongoing strategic adjustments.
Good day, and welcome to the IHS Holding Limited fourth quarter and full year 2024 earning results call for the three-month and four-year periods ending December 31, 2024. Please note that today's conference is being webcast and recorded. (Operator Instructions)
At this time, I'd like to turn the conference over to Robert Berg. Please go ahead, sir.
Thank you, operator. Thanks to 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 annual report on Form 20-F for the full year ended December 30, 2024, 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 deck. These are the consolidated results of IHS Holding Limited, which is listed on the New York Stock Exchange under the ticker symbol IHS and which comprises the entirety of the group's
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