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Jun 30
IHS Q2 2025 Earnings Report
IHS reported solid Q2 2025 results with a return to profitability and raised full-year guidance.
Key Takeaways
IHS Holding Limited delivered a strong Q2 2025, generating $32.3 million in net income, improving from a $124.3 million loss in the prior year. Revenue was stable, and operating income remained robust despite slight year-over-year declines. The company raised full-year 2025 guidance, reflecting continued momentum.
Net income turned positive at $32.3M versus a $124.3M loss in Q2 2024.
Revenue slightly declined to $433.3M, impacted by FX and Kuwait exit.
Adjusted EBITDA margin remained strong at 57.3%.
Full-year 2025 guidance was raised across all major metrics.
IHS
IHS
IHS Revenue by Segment
IHS Revenue by Geographic Location
Revenue by Segment
Nigeria Revenue
CapyFin.comSSA Revenue
CapyFin.comLatam Revenue
CapyFin.comRevenue by Geographic Location
Nigeria Revenue
CapyFin.comSSA Revenue
CapyFin.comLatam Revenue
CapyFin.com Forward Guidance
Full-year 2025 outlook was raised across revenue, EBITDA, and free cash flow, supported by strong H1 performance and FX stabilization.
Positive Outlook
- Raised revenue guidance to $1.7B–$1.73B.
- Adjusted EBITDA outlook raised to $985M–$1.005B.
- Free cash flow guidance lifted to $390M–$410M.
- Positive FX movements improving topline forecasts.
- Stronger operating performance and profitability year-to-date.
Challenges Ahead
- Revenue impact from Rwanda disposal included in outlook.
- Kuwait divestiture lowers YoY comparables.
- Interest payment re-phasing affected Q2 free cash flow.
- Ongoing FX exposure, particularly in Nigeria.
- Organic growth partially offset by MTN Nigeria churn.