IHS : Supplemental Information (IHS Holding Limited 4QFY24 Supplemental Information)

Published: 2025-03-18 07:26:05 ET IHS

COMPANY AND SECURITIES INFORMATION

Contacts

Corporate Headquarters

IHS Holding Limited

1 Cathedral Piazza

123 Victoria Street

London, SW1E 5BP

United Kingdom

www.ihstowers.com

Investor Relations

Robert Berg

1 Cathedral Piazza

123 Victoria Street

London, SW1E 5BP United Kingdom [email protected]

Transfer Agent

Computershare

P.O. Box 43006 Providence, RI 02940 +1 866-201-5087

Resources

Earnings Materials http://www.ihstowers.com/investors/earnings-materialsInvestor Presentations and Events www.ihstowers.com/investors/investor-presentations-eventsDistribution list / email alerts www.ihstowers.com/investors/email-alerts

Board of Directors

Executive Officers

Director

Independent

Officer

Title

Sam Darwish

Chairman & Group Chief Executive Officer

Aniko Szigetvari

✓

Steve Howden

Executive Vice President, Chief Financial Officer

Frank Dangeard

✓

Executive Vice President, Chief Operating Officer

John Ellis (Jeb) Bush

✓

William Saad

Mallam Bashir Ahmad El-Rufai

✓

Mohamad Darwish

Executive Vice President, Nigeria Chief Executive Officer

Maria Carolina Lacerda

✓

Mustafa Tharoo

Executive Vice President, General Counsel

Nick Land

✓

Ayotade Oyinlola

Executive Vice President, Chief Human Resources Officer

Phuthuma Nhleko

✓

Ursula Burns

✓

Securities

Common Stock

The New York Stock Exchange

Ticker: IHS

Debt Securities

Issuer

Description

Original Date Issue

Type

IHS Holding Limited

US$500,000,000 5.625% Senior Notes due 2026

2021

Reg S/ 144

IHS Netherlands Holdco B.V.

US$940,000,000 8.000% Senior Notes due 2027

2019

Reg S/ 144

IHS Holding Limited

US$500,000,000 6.250% Senior Notes due 2028

2021

Reg S/ 144

IHS Holding Limited

US$550,000,000 7.875% Senior Notes due 2030

2024

Reg S/ 144

IHS Holding Limited

US$650,000,000 8.250% Senior Notes due 2031

2024

Reg S/ 144

Analyst Coverage

Equity

Fixed Income

Institution

Analyst

Institution

Analyst

Barclays

Maurice Patrick

Barclays

Stella Cridge

Citigroup

Mike Rollins

J.P. Morgan

Nandini Boomakanti

Cowen

Michael Elias

Goldman Sachs

Jim Schneider

J.P. Morgan

Richard Choe

New Street Research

Chris Hoare

RBC Capital Markets

Jon Atkin

Tigress Financial Partners

Ivan Feinseth

Wells Fargo Securities

Eric Luebchow

COMMON STOCK INFORMATION

Closing price at end of quarter/year ($)

Average daily trading volume at end of quarter/year

Potentially dilutive weighted average common shares

outstanding ('000)

Fully diluted Market capitalization at end of quarter/year ($M)

1Q22

2Q22

3Q22

4Q22

1Q23

2Q23

3Q23

4Q23

1Q24

2Q24

3Q24

4Q24

11.08

10.44

5.58

6.15

8.76

9.78

5.55

4.60

3.53

3.20

2.99

2.92

155,642

96,498

260,111

256,331

184,511

295,094

351,964

396,270

637,014

327,517

537,356

356,674

335,563

335,155

335,134

336,046

335,130

335,691

335,857

335,156

333,282

333,830

336,031

335,123

3,718

3,499

1,870

2,067

2,936

3,283

1,864

1,542

1,176

1,068

1,005

979

FY2022 FY2023 FY2024

6.15 4.60 2.92

192,943 307,497 463,132

336,046 335,156 335,123

2,067

1,542

979

FINANCIAL METRICS

1Q22

2Q22

3Q22

4Q22

1Q23

2Q23

3Q23

4Q23

1Q24

2Q24

3Q24

4Q24

FY2022

FY2023

FY2024

In $000s

REVENUE

Segment Revenue

Organic Growth Y/Y

Nigeria

320,656

321,125

355,351

355,270

424,978

364,592

271,394

320,662

227,734

269,572

242,290

258,870

1,352,402

1,381,627

998,466

27.0%

10.4%

28.7%

27.3%

46.6%

36.7%

36.3%

65.5%

45.9%

105.1%

86.8%

61.5%

23.2%

46.5%

73.2%

SSA

85,628

94,902

114,801

117,492

122,160

123,393

133,481

124,016

131,315

108,215

120,139

124,173

412,824

503,049

483,842

3.6%

4.6%

3.1%

9.2%

15.6%

15.2%

20.7%

12.0%

15.1%

(4.7%)

(6.2%)

3.1%

5.2%

15.9%

1.6%

Latam

31,233

42,780

42,104

43,891

45,649

48,344

51,883

54,331

47,773

46,464

45,148

44,645

160,008

200,207

184,030

33.0%

27.9%

36.1%

31.6%

18.4%

13.8%

14.8%

16.6%

(0.4%)

1.5%

(0.6%)

(2.7%)

32.1%

15.7%

(0.6%)

MENA

8,615

8,876

9,061

9,514

9,741

9,875

10,265

10,775

10,922

11,126

12,705

10,134

36,065

40,656

44,887

10.7%

13.5%

16.2%

15.1%

11.2%

8.4%

7.4%

6.4%

6.0%

6.4%

19.2%

7.5%

14.0%

8.3%

9.8%

Group

446,132

467,683

521,317(2)

526,167

602,528(3)

546,204

467,023

509,784

417,744

435,377

420,282

437,822

1,961,299(2)

2,125,539(3)

1,711,225

21.5%

9.9%(1)

23.1%

23.5%

38.0%

29.7%

30.6%

48.4%

35.5%

69.3%

49.0%

39.3%

19.5%

36.9%

48.1%

ADJUSTED EBITDA(4)

Segment Adjusted EBITDA(4)

Segment Adjusted EBITDA Margin(4)

Nigeria

203,019

183,698

210,039

206,065

271,879

219,445

164,152

199,841

102,869

171,391

158,900

154,871

802,822

855,317

588,031

63.3%

57.2%

59.1%

58.0%

64.0%

60.2%

60.5%

62.3%

45.2%

63.6%

65.6%

59.8%

59.4%

61.9%

58.9%

SSA(5)

46,999

52,990

63,521

66,555

65,481

62,933

66,285

62,373

69,652

76,456

81,046

80,800

230,066

257,072

307,954

54.9%

55.8%

55.3%

56.6%

53.6%

51.0%

49.7%

50.3%

53.0%

70.7%

67.5%

65.1%

55.7%

51.1%

63.6%

Latam(6)

22,113

30,904

29,993

31,425

31,172

35,330

38,163

41,089

33,845

33,279

33,798

37,113

114,434

145,754

138,035

70.8%

72.2%

71.2%

71.6%

68.3%

73.1%

73.6%

75.6%

70.8%

71.6%

74.9%

83.1%

71.5%

72.8%

75.0%

MENA

3,618

4,170

3,828

4,405

3,666

5,384

5,155

7,916

6,072

6,167

8,014

7,308

16,021

22,121

27,561

42.0%

47.0%

42.2%

46.3%

37.6%

54.5%

50.2%

73.5%

55.6%

55.4%

63.1%

72.1%

44.4%

54.4%

61.4%

Unallocated corporate expenses(7)

(30,877)

(32,586)

(32,953)

(35,997)

(36,654)

(38,385)

(35,653)

(37,037)

(27,279)

(36,445)

(35,783)

(33,720)

(132,412)

(147,729)

(133,227)

Group

244,872

239,176

274,428(2)

272,453

335,544(3)

284,707(8)

238,102(8)

274,182

185,159

250,848

245,975

246,372

1,030,931(2)

1,132,535(3)

928,354

54.9%

51.1%

52.6%

51.8%

55.7%

52.1%

51.0%

53.8%

44.3%

57.6%

58.5%

56.3%

52.6%

53.3%

54.3%

ALFCF(9)

Cash Conversion Rate

Group

86,105

90,434

89,656(2)

96,889

154,904(10)

73,955(8)

85,759(8)

118,165

43,111

66,857

87,109

107,121

363,083(2)

432,782(10)

304,198

35.2%

37.8%

32.7%

35.6%

46.2%

26.0%

36.0%

43.1%

23.3%

26.7%

35.4%

43.5%

35.2%

38.2%

32.8%

CAPEX

New Site

9,805

32,766

26,461

17,990

10,411

23,947

29,197

28,316

15,129

8,238

14,728

15,556

87,022

91,872

53,652

Non-discretionary

39,880

29,993

49,128

50,724

44,247

52,325

19,295

26,270

10,000

20,090

18,824

23,667

169,726

142,138

72,581

Discretionary (ex-New Site)

67,318

84,010

98,526

126,868

97,944

125,663

52,389

76,042

28,018

25,339

32,908

43,378

376,722

352,037

129,643

Total

117,003

146,769

174,115

195,582

152,603

201,935(8)

100,881(8)

130,628

53,147

53,667

66,460

82,601

633,470

586,047

255,876

ROIC(11)

Group

9.9%(12)

14.6%

15.8%

Note: refer to page 17 (Appendix section) for footnotes related to these Financial Metrics

KPIs AND REVENUE DRIVERS

1Q22

2Q22

3Q22

4Q22

1Q23

2Q23

3Q23

4Q23

1Q24

2Q24

3Q24

4Q24

FY2022

FY2023

FY2024

KPIs

Towers

Consolidated

33,275

39,052

39,397

39,652

39,104(1)

39,298

39,739

40,075

40,278

40,332

40,650

39,229

39,652

40,075(1)

39,229

Tenants

Colo Rate(2)

Nigeria

25,690

25,685

25,861

26,210

25,650

25,798

25,927

26,009

26,129

26,196

25,648

25,740

26,210

26,009

25,740

1.52x

1.53x

1.54x

1.57x

1.58x

1.59x

1.60x

1.56x

1.54x

1.59x

1.56x

SSA

13,493

20,650

20,858

21,036

21,106

21,193

21,429

21,593

21,711

21,931

22,158

22,428

21,036

21,593

22,428

1.70x

1.50x

1.51x

1.52x

1.53x

1.54x

1.55x

1.57x

1.58x

1.52x

1.54x

1.58x

Latam

9,022

9,585

9,651

9,781

9,837

9,896

10,155

10,429

10,463

10,577

10,812

11,175

9,781

10,429

11,175

1.28x

1.34x

1.35x

1.33x

1.32x

1.31x

1.29x

1.30x

1.34x

1.31x

1.30x

MENA

1,438

1,461

1,523

1,546

1,553

1,560

1,685

1,696

1,694

1,698

1,697

1,546

1,696

1.01x

Consolidated

49,643

57,381

57,893

58,573

58,146(1)

58,447

59,196

59,727

59,997

60,382

60,315

59,343

58,573

59,727(1)

59,343

1.49x

1.47x

1.48x

1.49x

1.50x

1.48x

1.51x

1.48x

1.49x

1.51x

Amendments

Nigeria

27,743

29,585

29,084(3)

30,218

31,460

32,496

33,254

33,999

34,375

34,707

34,855

35,034

30,218(3)

33,999

35,034

SSA

774

1,085

1,403

1,523

1,669

1,922

2,433

2,565

3,775

3,983

4,120

1,403

2,433

4,120

Latam

171

186

196

279

517

171

517

MENA

272

Consolidated

28,517

30,670

30,169

31,674

33,038

34,234

35,254

36,603

37,126

38,692

39,389

39,671

31,674

36,603

39,671

REVENUE DRIVERS

Y/Y growth(4)

CPI Escalators

4.7%

5.6%

5.1%

5.5%

7.3%

7.9%

7.1%

5.0%

5.9%

6.1%

8.5%

8.4%

5.2%

6.8%

7.1%

New Sites

1.6%

1.3%

0.9%

1.0%

1.2%

0.7%

0.8%

0.7%

1.2%

1.0%

0.8%

New Colocation

1.7%

1.5%

1.7%

2.0%

1.5%

1.4%

1.1%

1.2%

1.5%

1.9%

1.0%

2.0%

1.7%

1.3%

1.6%

New Lease Amendments

2.4%

3.5%

2.0%

2.9%

4.4%

2.8%

2.3%

3.4%

1.9%

2.6%

2.9%

4.7%

2.7%

3.2%

3.0%

Fiber

1.1%

1.3%

1.0%

1.2%

1.3%

2.8%

2.1%

2.9%

2.0%

1.0%

1.2%

1.6%

2.0%

FX Resets

3.3%

1.8%

1.7%

3.1%

3.4%

4.3%

16.6%

27.0%

30.8%

58.8%

21.0%

19.4%

2.5%

13.4%

33.1%

Power

5.4%

8.9%

5.1%

1.0%

1.6%

3.1%

4.3%

17.6%

10.8%

5.0%

3.0%

8.4%

Inorganic

5.3%

8.7%

13.1%

10.8%

8.3%

3.9%

0.1%

0.0%

(0.3%)

9.6%

2.9%

(0.0%)

(3.4%)

(2.2%)

(6.0%)

(7.7%)

(11.3%)

(16.9%)

(41.2%)

(51.7%)

(66.2%)

(89.7%)

(59.1%)

(53.1%)

(4.9%)

(31.4%)

(67.5%)

Consolidated

23.4%

16.4%

30.2%

26.6%

35.1%

16.8%

(10.4%)

(3.1%)

(30.7%)

(20.3%)

(10.0%)

(14.1%)

24.2%

8.4%

(19.5%)

Constant Currency

18.2%

8.1%

15.9%

11.5%

29.6%

20.4%

13.1%

19.9%

1.6%

6.2%

10.4%

9.2%

12.0%

20.4%

6.5%

Diesel

Diesel-linked revenue ($000s)

27,047

25,299

42,272

57,601

56,231(5)

52,023

28,590

38,035

26,830

30,086

79,796

80,316

152,220

174,879

217,029

Diesel COS

76,451

93,879

100,938

100,539

99,378

81,634

65,574

74,807

68,012

75,827

70,264

71,374

371,806

321,392

285,478

ICE Low Sulphur Gasoil $/Metric Ton

786

1,031

1,012

948

819

687

911

792

813

766

703

678

944

802

740

Note: refer to page 18 (Appendix section) for footnotes related to KPIs and Revenue Drivers

DEBT AND LIQUIDITY

1Q22

2Q22

3Q22

4Q22

1Q23

2Q23

3Q23

4Q23

1Q24

2Q24

3Q24

4Q24

FY2022

FY2023

FY2024

DEBT ($000's)

5.625% Senior Notes due 2026

500,000

200,000

500,000

200,000

8.000% Senior Notes due 2027

940,000

286,000

940,000

286,000

6.250% Senior Notes due 2028

500,000

7.875% Senior Notes due 2030

550,000

8.250% Senior Notes due 2031

650,000

Other Indebtedness(1)

1,120,284

1,909,096

1,925,096

2,009,960

2,119,354

2,118,547

2,196,061

2,172,841

2,110,019

2,222,433

2,198,941

1,714,494

2,009,960

2,172,841

1,714,494

Total Indebtedness

3,060,284

3,849,096

3,865,096

3,949,960

4,059,354

4,058,547

4,136,061

4,112,841

4,050,019

4,162,433

4,138,941

3,900,494

3,949,960

4,112,841

3,900,494

Consolidated Net Leverage

2,551,675

3,281,798

3,334,628

3,435,882

3,543,765

3,625,499

3,710,625

3,819,018

3,716,816

3,716,720

3,741,442

3,323,486

3,435,882

3,819,018

3,323,486

Consolidated net leverage ratio

2.5x

3.2x

3.1x

3.3x

3.4x

3.8x

3.9x

3.7x

3.2x

3.4x

3.7x

Weighted average cost of debt

7.6%

7.8%

8.2%

8.6%

9.4%

9.5%

9.6%

9.4%

8.8%

9.0%

9.2%

8.6%

9.4%

9.2%

Fixed debt

76%

63%

66%

65%

57%

55%

56%

57%

55%

56%

66%

65%

56%

66%

Floating debt

24%

37%

34%

35%

43%

45%

44%

43%

45%

44%

34%

35%

44%

34%

Debt linked to hard currencies

83%

77%

78%

77%

79%

78%

79%

78%

77%

78%

77%

LIQUIDITY

Cash and Cash Equivalents

508,609

567,298

530,468

514,078

515,589

433,048

425,436

293,823

333,203

445,713

397,499

577,956

514,078

293,823

577,956

IHS Group RCF (undrawn)

270,000

300,000

270,000

300,000

IHS Group Term-Loan (undrawn)

230,000

130,000

60,000

230,000

130,000

Total Liquidity

778,609

837,298

800,468

1,014,078

1,015,589

933,048

955,436

723,823

693,203

745,713

697,499

877,956

1,014,078

723,823

877,956

Cash upstreaming from Nigeria ($M)

147

153

207

271

Average NGN/USD

417

419

431

446

461

508

768

815

1,316

1,392

1,601

1,629

428

638

1,484

Debt Maturity Profile(2)

Notes and Facilities

694

Notes

615

581

609

Issuer

Description

Original Date Issued

Type

108

IHS Holding Limited

US$500,000,000 5.625% Senior Notes due 2026

2021

Reg S/144

439

154

IHS Netherlands Holdco B.V.

US$940,000,000 8.000% Senior Notes due 2027

2019(3)

Reg S/144A

IHS Holding Limited

US$500,000,000 6.250% Senior Notes due 2028

2021

Reg S/144

333

126

650

IHS Holding Limited

US$550,000,000 7.875% Senior Notes due 2030

2024

Reg S/144

107

500

550

IHS Holding Limited

US$650,000,000 8.250% Senior Notes due 2031

2024

Reg S/144

428

Facilities

286

200

Type

Description

Entered in

Outstanding ($M) Undrawn ($M)

Maturity

RCF

IHS Holding Revolving Credit Facility

March 2020

300

October 2026

2025E

2026E

2027E

2028E

2029E

2030E

2031E

2032E

Term Loan

IHS Holding Term Loan

October 2024

428

October 2029

Group

Nigeria

Other

RCF

Nigeria Revolving Credit Facility

January 2023

January 2026

Term Loan

Nigeria Term Loan

January 2023

January 2028

Note: refer to page 19 (Appendix section) for footnotes related to Debt and Liquidity

CONSOLIDATED FINANCIALS

CONSOLIDATED BALANCE SHEET

1Q22(1)

2Q22(2)

3Q22(2)

4Q22(2)

1Q23(2)

2Q23(3)

3Q23(3)

4Q23

1Q24

2Q24

3Q24

4Q24

FY2022(1)(2)

FY2023(2)

FY2024

$000s

Non-current assets

Property, plant and equipment

1,821,319

2,189,709

2,176,569

2,075,441

2,116,820

1,864,446

1,746,004

1,740,235

1,516,239

1,423,021

1,436,945

1,352,645

2,075,441

1,740,235

1,352,645

Right of use assets

648,129

819,689

783,947

965,019

966,187

902,589

883,234

886,909

826,445

795,000

807,033

699,057

965,019

886,909

699,057

Goodwill

945,750

915,832

888,350

763,388

761,487

664,450

638,538

619,298

467,991

442,542

441,971

403,242

763,388

619,298

403,242

Other intangible assets

1,094,467

1,096,136

1,036,449

1,049,103

1,043,840

973,056

908,821

933,030

861,997

804,643

809,667

673,952

1,049,103

933,030

673,952

Deferred income tax assets

8,438

8,826

10,938

78,369

89,092

59,250

60,873

63,786

63,467

60,938

64,508

73,345

78,369

63,786

73,345

Derivative financial instrument assets

56,100

2,770

2,150

6,121

4,409

7,232

1,889

1,540

8,180

12,140

31,170

29,410

6,121

1,540

29,410

Trade and other receivables

141,237

155,763

163,417

130,357

152,652

131,130

153,982

147,305

125,714

119,558

127,198

121,033

130,357

147,305

121,033

4,715,440

5,188,725

5,061,820

5,067,798

5,134,487

4,602,153

4,393,341

4,392,103

3,870,033

3,657,842

3,718,492

3,352,684

5,067,798

4,392,103

3,352,684

Current assets

Inventories

39,626

61,639

70,073

74,216

66,183

22,925

54,261

40,589

39,880

33,559

31,874

30,746

74,216

40,589

30,746

Income tax receivable

260

666

604

1,174

1,464

2,187

2,375

3,755

3,968

3,012

1,992

2,250

1,174

3,755

2,250

Derivative financial instrument assets

565

527

402

157

565

Trade and other receivables

630,318

716,200

686,470

663,467

776,509

610,319

629,245

607,835

351,654

399,627

421,218

313,356

663,467

607,835

313,356

Cash and cash equivalents

508,609

567,298

530,468

514,078

515,589

433,048

425,436

293,823

333,203

445,713

397,499

577,956

514,078

293,823

577,956

Assets held for sale

21,139

26,040

6,875

26,040

1,178,813

1,345,803

1,287,615

1,252,935

1,359,745

1,068,479

1,132,456

972,607

736,107

882,313

852,740

924,308

1,252,935

972,607

924,308

TOTAL ASSETS

5,894,253

6,534,528

6,349,435

6,320,733

6,494,232

5,670,632

5,525,797

5,364,710

4,606,140

4,540,155

4,571,232

4,276,992

6,320,733

5,364,710

4,276,992

Non-current liabilities

Trade and other payables

330

334

1,411

1,459

2,237

2,320

5,493

4,629

5,069

5,351

5,153

5,218

1,459

4,629

5,218

Borrowings

2,389,796

2,655,672

2,577,357

2,906,288

3,104,401

3,028,771

3,084,214

3,056,696

3,285,118

3,421,861

3,354,762

3,219,215

2,906,288

3,056,696

3,219,215

Lease liabilities

358,221

518,899

505,863

518,318

515,689

504,118

507,008

510,838

492,475

492,698

513,484

470,476

518,318

510,838

470,476

Provisions for other liabilities and charges

77,206

122,994

119,406

84,533

86,296

87,739

84,811

86,131

80,086

81,011

95,447

83,876

84,533

86,131

83,876

Deferred income tax liabilities

236,082

286,811

191,394

183,518

170,410

154,588

141,842

137,106

123,342

120,984

127,923

100,450

183,518

137,106

100,450

3,061,635

3,584,710

3,395,431

3,694,116

3,879,033

3,777,536

3,823,368

3,795,400

3,986,090

4,121,905

4,096,769

3,879,235

3,694,116

3,795,400

3,879,235

Current liabilities

Trade and other payables

558,609

617,571

595,871

669,149

687,287

524,456

575,727

532,627

411,175

386,364

400,929

422,500

669,149

532,627

422,500

Provisions for other liabilities and charges

448

502

496

483

492

295

309

277

183

172

160

182

483

277

182

Derivative financial instrument liabilities

3,597

5,328

1,971

1,393

1,067

50,051

51,887

68,133

40,655

12,946

10,537

10,203

1,393

68,133

10,203

Income tax payable

69,427

57,348

64,101

70,008

71,749

59,443

65,322

75,612

58,732

60,507

58,106

49,879

70,008

75,612

49,879

Borrowings

257,461

595,282

709,505

438,114

351,582

437,337

457,941

454,151

183,223

157,814

176.996

128,734

438,114

454,151

128,734

Lease liabilities

54,806

79,243

72,371

87,240

87,682

88,321

86,898

91,156

89,203

90,060

93,699

82,068

87,240

91,156

82,068

944,348

1,355,274

1,444,315

1,266,387

1,199,859

1,159,903

1,238,084

1,221,956

783,171

707,863

740,427

693,566

1,266,387

1,221,956

693,566

TOTAL LIABILITIES

4,005,983

4,939,984

4,839,746

4,960,503

5,078,892

4,937,439

5,061,452

5,017,356

4,769,261

4,829,768

4,837,196

4,572,801

4,960,503

5,017,356

4,572,801

Stated capital

5,309,954

5,311,953

5,385,325

5,401,385

5,391,363

5,394,812

5,397,690

5,399,205

5,399,635

5,403,139

5,311,953

5,394,812

5,403,139

Accumulated losses

(2,842,127)

(3,018,860)

(3,051,944)

(3,317,652)

(3,307,071)

(4,572,976)

(4,839,806)

(5,293,394)

(6,846,722)

(6,967,791)

(7,171,934)

(6,925,419)

(3,317,652)

(5,293,394)

(6,925,419)

Other reserves

(830,922)

(915,707)

(963,881)

(861,271)

(892,510)

(331,664)

(316,393)

8,430

1,059,000

1,076,281

1,299,858

1,067,701

(861,271)

8,430

1,067,701

Equity attributable to owners of the Company

1,636,905

1,375,387

1,294,129

1,133,030

1,185,744

496,745

235,164

109,848

(390,032)

(492,305)

(472,441)

(454,579)

1,133,030

109,848

(454,579)

Non-controlling interests

251,365

219,157

215,560

227,200

229,596

236,448

229,181

237,506

226,911

202,692

206,477

158,770

227,200

237,506

158,770

TOTAL EQUITY

1,888,270

1,594,544

1,509,689

1,360,230

1,415,340

733,193

464,345

347,354

(163,121)

(289,613)

(265,964)

(295,809)

1,360,230

347,354

(295,809)

TOTAL EQUITY AND LIABILITIES

5,894,253

6,534,528

6,349,435

6,320,733

6,494,232

5,670,632

5,525,797

5,364,710

4,606,140

4,540,155

4,571,232

4,276,992

6,320,733

5,364,710

4,276,992

Note: refer to page 20 (Appendix section) for footnotes related to the Consolidated Balance Sheet

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

1Q22(1)

2Q22(2)

3Q22(2)

4Q22(3)

1Q23(3)

2Q23(4)

3Q23(4)

4Q23

1Q24

2Q24

3Q24

4Q24

FY2022(1)(2)

FY2023(3)

FY2024

$000s

Revenue

446,132

467,683

521,317

526,167

602,528

546,204

467,023

509,784

417,744

435,377

420,282

437,822

1,961,299

2,125,539

1,711,225

Cost of sales

(250,589)

(270,611)

(297,598)

(338,203)

(306,649)

(297,097)

(358,882)

(220,678)

(254,290)

(206,710)

(201,745)

(227,788)

(1,157,001)

(1,183,306)

(890,533)

Administrative expenses

(90,562)

(102,852)

(91,527)

(216,234)

(97,321)

(100,721)

(93,835)

(112,906)

(166,696)

(83,763)

(97,099)

(82,260)

(501,175)

(404,783)

(429,818)

(Net loss allowance)/reversal of net loss allowance on trade

2,468

(668)

1,597

1,049

(3,560)

(954)

(711)

(1,977)

(4,560)

2,381

4,286

(2,082)

4,446

(7,202)

receivables

Other income

1,170

2,967

469

175

161

710

883

86,592

4,676

404

88,248

Operating profit/(loss)

108,619

96,519

133,859

(26,752)

195,173

147,593

13,628

174,258

(7,092)

148,168

125,787

212,284

312,245

530,652

479,147

Finance income

114,967

3,895

6,412

4,790

6,828

8,373

5,823

8,420

10,806

43,010

25,732

175,716

15,825

25,209

33,747

Finance costs

(192,212)

(261,886)

(234,223)

(297,968)

(179,008)

(1,369,052)

(271,595)

(621,091)

(1,563,028)

(279,156)

(350,825)

(151,646)

(872,049)

(2,436,511)

(2,123,138)

(Loss)/Profit before income tax

31,374

(161,472)

(93,952)

(319,930)

22,993

(1,213,086)

(252,144)

(438,413)

(1,559,314)

(87,978)

(199,306)

236,354

(543,979)

(1,880,650)

(1,610,244)

Income tax (expense)/benefit

(16,254)

(17,102)

57,304

51,067

(15,218)

(57,241)

(16,659)

(18,410)

2,064

(36,336)

(6,397)

6,712

75,013

(107,528)

(33,957)

(Loss)/Profit for the period

15,120

(178,574)

(36,648)

(268,863)

7,775

(1,270,327)

(268,803)

(456,823)

(1,557,250)

(124,314)

(205,703)

243,066

(468,966)

(1,988,178)

(1,644,201)

(Loss)/Profit attributable to:

Owners of the Company

16,518

(176,757)

(30,702)

(268,066)

10,581

(1,266,773)

(266,829)

(453,588)

(1,553,328)

(121,069)

(204,143)

246,515

(459,007)

(1,976,609)

(1,632,025)

Non-controlling interests

(1,398)

(1,817)

(5,946)

(797)

(2,806)

(3,554)

(1,974)

(3,235)

(3,922)

(3,245)

(1,560)

(3,449)

(9,959)

(11,569)

(12,176)

(Loss)/Profit for the period

15,120

(178,574)

(36,648)

(268,863)

7,775

(1,270,326)

(268,804)

(456,823)

(1,557,250)

(124,314)

(205,703)

243,066

(468,966)

(1,988,178)

(1,644,201)

(Loss)/Income per share-basic

0.05

(0.53)

(0.09)

(0.81)

0.03

(3.73)

(0.79)

(1.36)

(4.67)

(0.36)

(0.61)

0.74

(1.39)

(5.93)

(4.90)

(Loss)/Income per share-diluted

0.05

(0.53)

(0.09)

(0.81)

0.03

(3.73)

(0.79)

(1.36)

(4.67)

(0.36)

(0.61)

0.73

(1.39)

(5.93)

(4.90)

Other comprehensive income/(loss)

Items that may be reclassified to profit or loss

Exchange gain recycled to income statement on disposal of

(98)

subsidiary

Exchange differences on translation of foreign operations

132,682

(123,047)

(52,946)

115,970

44,192

585,264

5,346

336,006

1,043,520

(6,996)

227,539

(267,515)

72,661

970,808

996,548

Other comprehensive income/(loss) for the period, net of taxes

132,682

(123,047)

(52,946)

115,970

44,192

585,264

5,346

336,006

1,043,520

(6,996)

227,539

(267,613)

72,661

970,808

996,450

Total comprehensive (loss)/income for the period

147,802

(301,621)

(89,594)

(152,893)

51,967

(685,063)

(263,457)

(120,817)

(513,730)

(131,310)

21,836

(24,547)

(396,305)

(1,017,370)

(647,751)

Total comprehensive (loss)/income attributable to:

Owners of the Company

114,680

(275,755)

(79,149)

(159,267)

49,571

(691,915)

(254,268)

(129,142)

(503,135)

(107,091)

18,051

(21)

(399,486)

(1,025,754)

(592,196)

Non-controlling interests

33,122

(25,866)

(10,445)

6,374

2,396

6,852

(9,189)

8,325

(10,595)

(24,219)

3,785

(24,526)

3,181

8,384

(55,555)

Total comprehensive (loss)/income for the period

147,802

(301,621)

(89,594)

(152,893)

51,967

(685,063)

(263,457)

(120,817)

(513,730)

(131,310)

21,836

(24,547)

(396,305)

(1,017,370)

(647,751)

Note: refer to page 21 (Appendix section) for footnotes related to the Consolidated Statement of Comprehensive Income

Disclaimer

IHS Holding Ltd. published this content on March 18, 2025, and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on March 18, 2025 at 11:25:08.312.