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IHS Holding Limited reports developments as an independent owner, operator and developer of shared communications infrastructure focused on emerging markets. The company, known as IHS Towers, serves mobile network operators and operates across markets including Brazil, Cameroon, Colombia, Côte d’Ivoire, Nigeria, South Africa and Zambia.
Recurring company news covers operating and financial results, Form 20-F annual reporting, tower and colocation activity, fiber and other infrastructure revenue, leverage and cash flow commentary, governance updates and portfolio actions. Recent completed portfolio developments include the sale of the company’s stake in I-Systems, a Brazilian shared optical fiber network provider, and other market-level divestitures tied to its infrastructure footprint.
IHS Holding Limited (NYSE: IHS) announced a new $600 million three-year loan on October 28, 2022, with expected draws of $370 million. The loan carries a 3.75% interest rate plus SOFR. Proceeds will primarily repay a $280 million bridge facility maturing in February 2023 and a $76 million Nigerian credit tranche due in September 2024. Additionally, the company extended its $270 million revolving credit facility to March 30, 2025.
IHS Holding Limited (NYSE: IHS) has unveiled its Carbon Reduction Roadmap, targeting a 50% reduction in Scope 1 and 2 emissions intensity of its tower portfolio by 2030, based on 2021 data. The company will invest $214 million in capital expenditures from 2022 to 2024, expecting $77 million in annual savings by 2025 with a 30% ROI. IHS Towers has raised its capex guidance for 2022 to $645-685 million, with a focus on connecting more sites to the electricity grid and deploying renewable energy solutions.
IHS Towers reported Q2 2022 revenue of $467.7 million, up 16.4% year-over-year, with adjusted EBITDA of $239.1 million and a margin of 51.1%. Despite revenue growth, the company faced a net loss of $177.5 million, impacted by high diesel costs and increased finance expenses. Cash from operations was $216.8 million, while recurring levered free cash flow dropped 49.7% to $87.5 million. The company completed the acquisition of 5,691 towers in South Africa, enhancing its portfolio to 39,052 towers across 11 countries. Guidance for 2022 revenue was raised by $10 million.
IHS Holding Limited (NYSE: IHS) will participate in several key conferences, highlighting its position as a leader in shared communications infrastructure. Sam Darwish, Chairman and CEO, will speak at the J.P. Morgan 50th Annual Global Technology, Media and Communications Conference on May 23 at 3:50 PM ET. Steve Howden, EVP and CFO, will present at the RBC Capital Markets Global Communications Infrastructure Conference on May 24 at 11:20 AM MT and participate in a panel on May 25 at ConnectX. Webcast access for these events is available on the IHS Towers investor site.
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IHS Towers reported a robust first quarter 2022 with revenue reaching $446.1 million, marking a 23.4% increase year-over-year. Adjusted EBITDA stood at $244.9 million with a 54.9% margin. The firm achieved a net profit of $16.9 million, reversing a loss from the previous year. Key growth drivers included organic revenue growth of 21.5% and successful acquisitions, including São Paulo Cinco Locação de Torres Ltda. IHS Towers also ended the quarter with $3,060.3 million in total debt and $508.6 million in cash, positioning them well for future investments.
According to the latest Paychex | IHS Markit Small Business Employment Watch, hourly earnings growth for U.S. small business workers has increased for eleven consecutive months, with average earnings reaching $30.10, a 4.85% year-over-year rise. The national jobs index stands at 101.14, marking a 2.85% increase from last year, although job growth moderated slightly at -0.14%. Texas leads in employment growth, while the leisure and hospitality sector experiences the most robust job and wage growth. The report reflects ongoing strength in small business employment despite a slight slowdown in job gains.
IHS Towers reported a 12.1% revenue increase for Q4 2021, reaching $415.6 million. Full-year revenue rose 12.6% to $1.58 billion. Despite a $72.3 million loss in Q4, Adjusted EBITDA improved to $216.6 million with a 52.1% margin. Cash from operations was $190.2 million, while recurring levered free cash flow (RLFCF) decreased by 40.5% to $87.9 million. Strategic partnerships were established in Egypt, and acquisitions in Brazil and South Africa were completed, expanding IHS's footprint to over 31,000 towers across nine countries.
IHS Holding Limited (NYSE: IHS) will release its financial results for the three-month and full-year periods ending December 31, 2021, on March 15, 2022, at 6 am ET. A conference call to discuss these results will follow the same day at 8:30 am ET. Participants can join by dialing +1 646 664 1960 (U.S./Canada) or +44 20 3936 2999 (UK/International) with passcode 955442. The earnings results will also be available via the Earnings Materials section of the company’s website.
IHS Holding Limited (NYSE: IHS) has appointed Colby Synesael as Senior Vice President of Communications, effective March 1, 2022. Based in New York City, he will enhance the Group's Investor Relations and Communications & Sustainability initiatives, reporting to the CFO. This move aligns with IHS's strategy to fortify its senior management after its recent leadership additions. Synesael, a veteran analyst, brings valuable industry insight to drive shareholder value.