New York Stock Exchange listed IHS Towers, the largest in- dependent owner, operator and developer of shared communications infrastructure in Africa and one of the largest in the world by tower count, has delivered strong third quarter earnings ahead of expectations while revisiting its full 2025 guidance upwards.
This is on the back of its strong Nigeria performance where Sam Darwish, Chairman and CEO, tells thousands of Wall Street investors and analysts on its earnings call that “the current Nigerian administration has done in our opinion a great job in stabilizing and improving the economic outlook of the country as they increase re- serves and strengthened the currency, while reducing red tape for businesses among other fundamental actions. So, we are upbeat about Nigeria.”.
In Nigeria, revenue increased 10.6% year- on-year to $268.0 million, driven by organic growth during the period and supplemented by favourable movements in the Naira versus the U.S. dollar.
Across the Group, revenue for the period increased by 8.3% year-on-year to $455.1 million, despite a 3.0% inorganic revenue headwind resulting from the disposal of the Company’s Kuwait operations in December 2024.
Organic revenue growth of 6.6% reflected constant currency growth of 8.7% and the benefit of foreign exchange (“FX”) resets, partially offset by a reduction in revenues linked to power indexation. Constant currency growth was primarily driven by higher contributions from colocation, lease amendments, new sites, fibre, and escalators.
Leave a Reply
Leave a Reply
