Strong Revenue and EBITDA Performance
IHS Holding Limited reported 48% organic revenue growth for 2024, with 6.5% constant currency growth. The adjusted EBITDA reached $928 million, with a margin of 54.3%, up 100 basis points compared to 2023.
CapEx Optimization and Cash Flow Improvement
CapEx was significantly reduced by 56% year-over-year, driving an adjusted levered free cash flow (ALFCF) of $304 million, ahead of guidance.
Leverage Reduction and Strategic Refinancing
Net leverage ratio decreased to 3.7 times from 3.9 times. Significant refinancing efforts included $1.6 billion of debt refinancing to extend maturities and shift debt into local currencies.
Successful Asset Disposal
The sale of IHS Kuwait operations at 14.2 times adjusted EBITDA after leases, highlighting potential undervaluation of IHS assets.
Contract Renewals and Revenue Visibility
Extended commercial contracts with key customers MTN and Airtel, covering over 25,000 tenancies, with 72% of group revenue renewed or extended, improving financial visibility.