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IHS Holding: Strong Despite Declining Naira
Seeking Alpha· 2024-10-09 07:55
Group 1 - The article does not provide any specific information or data regarding companies or industries [1]
IHS (IHS) - 2024 Q2 - Earnings Call Transcript
2024-08-13 21:58
Financial Data and Key Metrics Changes - Revenue increased by 4% quarter-over-quarter and adjusted EBITDA increased by 35% from Q1 2024, despite a reported year-over-year revenue decline of 20% due to Naira devaluation [7][18] - Adjusted EBITDA margin improved to 57.6%, up 550 basis points year-over-year and 1,330 basis points from the previous quarter [24] - CapEx decreased by 73% year-over-year, reflecting a strategic focus on cash generation and high-return projects [18][25] Business Line Data and Key Metrics Changes - In Nigeria, revenue decreased by 26% year-over-year on a reported basis, but organic growth was 105% driven by FX resets and escalations [27] - Sub-Saharan Africa segment saw a revenue decrease of 12.3%, but adjusted EBITDA increased by 21.5% due to lower maintenance costs [28] - LatAm segment experienced a revenue decrease of 3.9%, with organic growth of 1.5% despite negative FX movements [29] Market Data and Key Metrics Changes - The average ForEx rate for the U.S. dollar to the Naira was NGN1,392 during the quarter, with the Naira closing at NGN1,597 on August 9, 2024 [8][15] - Data usage in Nigeria reportedly increased by over 50% year-on-year, indicating strong demand for mobile connectivity [51] Company Strategy and Development Direction - The company is focused on unlocking shareholder value through governance improvements and strategic contract renewals, particularly with MTN [12][14] - A target of raising $500 million to $1 billion is set for debt reduction and potential shareholder returns [13][40] - The introduction of power indexation in contracts is expected to stabilize margins and reduce operational risks [20][48] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the stabilization of the Nigerian ForEx market and the potential for increased dollar availability [15] - The company anticipates strong performance in KPIs for the remainder of the year, driven by healthy underlying trends [8] Other Important Information - The company completed the sale of its Peru subsidiary to SBA Communications on April 30, 2024, and remains committed to growth in Brazil [16] - The balance sheet remains a priority, with $746 million of available liquidity reported at the end of the quarter [14][31] Q&A Session Summary Question: Overall new lease activity in Nigeria and broader Africa - Management noted strong fundamental growth characteristics, with significant colocation and lease amendment activity driven by the African portfolio [35] Question: Asset sale discussions - Discussions are ongoing regarding asset sales, with a target of raising $500 million to $1 billion within a 12-month timeline [37][40] Question: Strategic review and shareholder value - The strategic review is focused on various opportunities to create shareholder value, including governance improvements and contract renewals [40][42] Question: Organic growth in LatAm and impact of Oi judicial recovery - Organic growth in LatAm is strong, with a 12-13% growth rate when excluding Oi revenue, which has been removed from the financials [45][46] Question: Nigerian EBITDA trajectory and moving parts - Management highlighted the impact of the Q1 Naira devaluation on revenue and earnings, with expectations for a more stable run rate moving forward [57][58] Question: Densification and market technology cycles - Differences in market technology cycles were noted, with Nigeria and South Africa at different stages of 5G rollout [60] Question: CapEx guidance - CapEx guidance remains at $300 million to $370 million, with a slight step-up expected in the second half of the year [61]
IHS Holding (IHS) Q2 Earnings Lag Estimates
ZACKS· 2024-08-13 13:56
IHS Holding (IHS) came out with quarterly earnings of $0.04 per share, missing the Zacks Consensus Estimate of $0.13 per share. This compares to loss of $0.27 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of -69.23%. A quarter ago, it was expected that this telecommunications infrastructure company would post earnings of $0.04 per share when it actually produced a loss of $0.07, delivering a surprise of -275%. Over the last fou ...
IHS (IHS) - 2024 Q2 - Quarterly Report
2024-08-13 10:55
Table of Contents Page PART I — FINANCIAL INFORMATION Item 1. Interim Financial Statements 8 Exhibit 99.1 TABLE OF CONTENTS | --- | |--------------------------------------------------------------------------------------------| | Condensed Consolidated Statement of Loss and Other Comprehensive (Loss)/Income (Unaudited) | | Condensed Consolidated Statement of Financial Position (Unaudited) | | Condensed Consolidated Statement of Changes in Equity (Unaudited) | | Condensed Consolidated Statement of Cash Flows ...
IHS (IHS) - 2024 Q1 - Earnings Call Transcript
2024-05-14 18:46
IHS Holding Limited (NYSE:IHS) Q1 2024 Earnings Conference Call May 14, 2024 8:30 AM ET Company Participants Colby Synesael - Executive Vice President, Communications Sam Darwish - Chairman & Chief Executive Officer Steve Howden - Chief Financial Officer Conference Call Participants Richard Jones - JPMorgan Michael Rollins - Citi Jon Atkin - RBC David Lopes - New Street Research Stella Cridge - Barclays Operator Good day, and welcome to the IHS Holding Limited First Quarter 2024 Earnings Results Call for th ...
IHS (IHS) - 2024 Q1 - Earnings Call Presentation
2024-05-14 14:18
IHS TOWERS 1Q24 EARNINGS One of the world's largest independent and multinational owners, operators, and developers of shared communications infrastructure • Capitalize on significant growth opportunities in existing markets • Consolidate towers globally in new and existing markets • Drive attractive profitability and returns to shareholders 5 IHS GLOBAL TOWER PORTFOLIO In 1Q24, we built +216 towers including +158 in Brazil 3rd Largest Independent Multinational TowerCo Globally By Tower Count (1) 6 • The re ...
IHS (IHS) - 2024 Q1 - Quarterly Report
2024-05-14 10:37
Table of Contents CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS This Form 6-K contains forward-looking statements. We intend such forward-looking statements to be covered by relevant safe harbor provisions for forward-looking statements (or their equivalent) of any applicable jurisdiction, including those contained in Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statement ...
IHS Holding Limited: Economic Crisis Brings Opportunity
Seeking Alpha· 2024-04-08 13:18
davidf Investment Thesis IHS Holding's (NYSE:IHS) stock performance continues to disappoint, falling from $17 to as low as $2.50 during its trading history. Still, the cash flows, revenues and EBITDA continues to grow which leads me to believe the stock is significantly undervalued. The company has high barriers to entry that stem from economies of scale and being a first mover in emerging markets, so I expect the company to continue to perform well. Despite the economic crisis in Nigeria, I believe the ...
IHS (IHS) - 2023 Q4 - Earnings Call Presentation
2024-03-13 14:12
• Expect to publish our 6th Sustainability Report during 2Q24 t #1 FY23 CONSOLIDATED REVENUE WALK 10 (1) "Other" includes $20M primarily from billing adjustments and debt collection, $6M of one-off revenue from one key customer having reached agreement on certain contractual terms and $3M of extra power and space 48(1) 117 44 526 425 54 10 355 377 365 271 321 4Q22 1Q23 2Q23 3Q23 4Q23 +26.6% +35.1% +16.8% (10.4%) (3.1%) +23.5% +38.0% +29.7% +30.6% +48.4% Nigeria SSA Latam MENA Non-Recurring Items 4Q23 Revenu ...
IHS (IHS) - 2023 Q4 - Annual Report
2024-03-12 10:43
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to OR ☐ SHELL COMPANY REPORT PURSUANT TO SE ...