IHS Holding Navigates FX Challenges in Q2 2024

IHS Holding (IHS) has released an update.

IHS Holding Limited reports a mixed financial outcome for Q2 2024, with a revenue increase of 4.2% from Q1 but a 20.3% decrease year-on-year, primarily due to significant foreign exchange challenges, including a devaluation of the Nigerian Naira. The company also experienced an adjusted EBITDA decrease of 11.9% compared to the previous year but managed to achieve organic growth of 69%. Amidst these challenges, IHS Holding revised its full-year guidance downwards, while maintaining a focus on strategic initiatives to enhance profitability and shareholder value.

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