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Dec 31, 2024
IHS Q4 2024 Earnings Report
IHS reported its Q4 2024 earnings with lower revenue year-over-year but posted a strong profit due to foreign exchange gains and strategic cost management.
Key Takeaways
In Q4 2024, IHS Holding generated $437.8 million in revenue, down 14.1% year-over-year due to currency headwinds, but increased 4.2% quarter-over-quarter. The company reported a net income of $243.1 million, reversing last year’s loss, driven by unrealized foreign exchange gains and a gain from the Kuwait subsidiary disposal. Adjusted EBITDA reached $246.4 million with a margin of 56.3%.
Revenue decreased 14.1% YoY to $437.8 million, impacted by Nigerian Naira devaluation.
Net income turned positive at $243.1 million, supported by $169.9 million in FX gains.
Adjusted EBITDA was $246.4 million with a margin of 56.3%.
Free cash flow (ALFCF) reached $107.1 million, with $348.8 million in cash from operations.
IHS
IHS
IHS Revenue by Segment
IHS Revenue by Geographic Location
Revenue by Segment
Nigeria Revenue
CapyFin.comSSA Revenue
CapyFin.comLatam Revenue
CapyFin.comMENA Revenue
CapyFin.comRevenue by Geographic Location
Nigeria Revenue
CapyFin.comSSA Revenue
CapyFin.comLatam Revenue
CapyFin.comMENA Revenue
CapyFin.com Forward Guidance
IHS anticipates continued growth across its markets in 2025, with a focus on expanding infrastructure, enhancing profitability, and deleveraging the balance sheet.
Positive Outlook
- Revenue guidance between $1.68 billion and $1.71 billion for FY25.
- Adjusted EBITDA guidance between $960 million and $980 million.
- Targeted free cash flow (ALFCF) between $350 million and $370 million.
- Capex focus in the range of $260 million to $290 million.
- Continued strategic disposals to strengthen balance sheet.
Challenges Ahead
- Ongoing foreign exchange volatility risk, especially in Nigeria.
- Macroeconomic challenges in emerging markets could impact growth.
- Reduced revenues from certain power pass-through agreements.
- Higher financing costs from recent debt issuances.
- Execution risk on further asset disposals and operational efficiency targets.