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IHS Holding reduces FY23 revenue view to $ $2.08B-$2.11B, consensus $2.09B

The Company’s outlook reflects $110M reduction in guidance includes a $141M foreign exchange headwind of which $142M is from the Nigerian Naira net of foreign exchange resets, implying an increase of approximately $31 M had the average FX rates previously assumed in our guidance remained unchanged, $48.1M of non-recurring revenue as adjusted for withholding tax in first quarter of 2023 from our smallest Key Customer in Nigeria for services previously provided but for which revenue had not been recognized, and 3) approximately $25M of power pass through revenue in South Africa. Guidance does not include revenue from the Egypt operations. Sees Adjusted EBITDA (1) $1.130B – $1.150B

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