IHS (IHS)
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IHS (IHS) - 2023 Q2 - Earnings Call Presentation
2023-08-15 17:25
(1) 3Q22 Revenue, Adjusted EBITDA, and RLFCF include $18M of non-recurring revenue from a key customer in Nigeria having reached agreement on certain contractual items (2) 1Q23 Revenue and Adjusted EBITDA include $48M of non-recurring revenue as adjusted for withholding tax from our smallest key customer in Nigeria for services previously provided but for which revenue had not been recognized (3) Adjusted EBITDA has been re-presented to reflect the remeasurement period adjustments, as required by IFRS 3, in ...
IHS (IHS) - 2023 Q2 - Earnings Call Transcript
2023-08-15 17:22
IHS Holding Limited (NYSE:IHS) Q2 2023 Earnings Conference Call August 15, 2023 8:30 AM ET Company Participants Colby Synesael - Executive Vice President, Communications Sam Darwish - Chairman and CEO Steve Howden - Chief Financial Officer Conference Call Participants Bora Lee - RBC Capital Markets Phil Cusick - JPMorgan Greg Williams - TD Cowen Eric Luebchow - Wells Fargo Michael Rollins - Citi Brett Feldman - Goldman Sachs Stella Cridge - Barclays Operator Thank you for standing by. And welcome to the IHS ...
IHS (IHS) - 2023 Q2 - Quarterly Report
2023-08-15 10:04
Exhibit 99.1 TABLE OF CONTENTS Table of Contents | PART I —FINANCIAL INFORMATION | Page | | --- | --- | | Item 1. Financial Statements | 7 | | Condensed Consolidated Statement of Loss and Other Comprehensive Income/(Loss) (Unaudited) | 8 | | Condensed Consolidated Statement of Financial Position (Unaudited) | 9 | | Condensed Consolidated Statement of Changes in Equity (Unaudited) | 10 | | Condensed Consolidated Statement of Cash Flows (Unaudited) | 12 | | Notes to the Unaudited Condensed Consolidated Interi ...
IHS (IHS) - 2023 Q1 - Earnings Call Transcript
2023-05-23 17:34
IHS Holding Ltd. (NYSE:IHS) Q1 2023 Results Conference Call May 23, 2023 8:30 AM ET Company Participants Colby Synesael - EVP, Communications Sam Darwish - Chairman & Group CEO Steve Howden - EVP & Group CFO Conference Call Participants Philip Cusick - JPMorgan Chase & Co. Gregory Williams - TD Cowen Brett Feldman - Goldman Sachs Group Michael Rollins - Citigroup Bora Lee - RBC Stella Cridge - Barclays Bank Operator Good day, and welcome to the IHS Holdings Limited Earnings Results Call for the three-month ...
IHS (IHS) - 2022 Q4 - Earnings Call Transcript
2023-03-30 13:03
IHS Holding Ltd (NYSE:IHS) Q4 2022 Earnings Conference Call March 28, 2023 8:30 AM ET Company Participants Colby Synesael - EVP, Communications Sam Darwish - Chairman & Group CEO Steve Howden - EVP & Group CFO Conference Call Participants Philip Cusick - JPMorgan Chase & Co. Michael Rollins - Citigroup Gregory Williams - TD Cowen Brett Feldman - Goldman Sachs Group Eric Luebchow - Wells Fargo Securities Stella Cridge - Barclays Bank Operator Good day, and welcome to the IHS Holdings Limited Earnings Results ...
IHS (IHS) - 2022 Q4 - Annual Report
2023-03-28 10:20
Revenue Concentration - For the year ended December 31, 2022, revenue from the top three MNO customers accounted for 97% of consolidated revenue, with MTN Nigeria and Airtel Nigeria contributing 50% and 14% respectively [44]. - 9mobile accounted for 4% of revenue in 2022, down from 6% in 2021, indicating a decline in market share [50]. - 69% of the company's revenue for the year ended December 31, 2022, was derived from Nigerian operations, highlighting the market's significance [60]. - MTN Group accounted for 62% and 66% of the company's revenue for the years ended December 31, 2022, and 2021, respectively [220]. Customer and Market Risks - The company is dependent on long-term lease agreements (5 to 15 years) with customers, which may be affected by their financial stability and capital-raising capabilities [45]. - Regulatory actions against major customers, such as MTN Nigeria's $8.1 billion repatriation allegation, could adversely impact their demand for tower space [46]. - The company may experience payment delays or defaults from customers, as evidenced by Oi Brazil's recent judicial reorganization filing [52]. - A decline in the number of end users for customers could adversely affect the company's business and financial condition [90]. - Demand for tower space is closely tied to the growth of wireless communications services, which may be adversely affected by economic conditions and customer capital availability [118]. Financial and Operational Risks - As of December 31, 2022, gross receivables over 90 days overdue amounted to $42.3 million, with an impairment provision allowance of $25.4 million [55]. - The company faces risks from economic and political uncertainties in emerging markets, which could materially affect its operations and financial condition [56]. - The company has ongoing renewal discussions for lease agreements, with some set to expire in 2023, 2024, and 2025, which could impact future revenue [54]. - The company incurred losses of $470 million and $26 million for the years ended December 31, 2022, and 2021, respectively, primarily due to depreciation, amortization, and finance costs [152]. Foreign Exchange and Currency Risks - For the years ended December 31, 2022 and 2021, 51% and 63% of the company's revenue was linked to the U.S. dollar or euro-pegged currencies [63]. - The company's U.S. dollar-linked revenue is paid in local currency through contractual mechanisms, which may lead to delays in revenue recognition during currency devaluations [64]. - The company faces foreign exchange risks as a significant portion of its revenue is settled in local currencies, which may be impacted by local currency depreciation [69]. - Major customers may also face foreign exchange risks, impacting their ability to make timely payments to the company [73]. Supply Chain and Operational Challenges - The COVID-19 pandemic has led to significant disruptions in supply chains, affecting the company's operations and financial markets, potentially resulting in uncollectible accounts receivable and reduced revenue [83]. - Economic conditions, including inflation and supply chain disruptions, have negatively impacted suppliers' ability to provide materials and equipment, affecting the company's operations [102]. - The company relies heavily on diesel for operations, particularly in markets with unreliable power grids, and disruptions in diesel supply could impede service level agreement targets, leading to financial penalties [99]. Regulatory and Compliance Risks - The company is required to achieve 30% Black Economic Empowerment (B-BBEE) ownership in its South African businesses starting in fiscal year 2023 [221]. - The Federal Competition and Consumer Protection Act in Nigeria may lead to regulatory inquiries or actions against the company, affecting its market position [196]. - The company may face potential civil or criminal penalties and reputational harm due to non-compliance with anti-corruption laws, which could adversely affect its financial condition [214]. - The company is subject to various export controls and trade sanctions that could impair its ability to compete internationally [215]. Environmental, Social, and Governance (ESG) Risks - There is increasing regulatory scrutiny regarding environmental and social performance of suppliers, which could lead to additional costs and operational challenges for the company [103]. - The company anticipates increased regulatory scrutiny and evolving stakeholder expectations related to climate change, which could adversely affect its business [191]. - Increased scrutiny regarding ESG initiatives may lead to higher costs and impact the company's reputation and business operations [146]. Infrastructure and Market Conditions - The company operates primarily in emerging markets, with Nigeria being its largest market, which exposes it to higher economic and political risks [222]. - Infrastructure deficiencies in emerging markets, such as power generation and transportation issues, could hinder economic growth and operational efficiency [236]. - The lack of reliable infrastructure limits the company's ability to respond to unforeseen situations, potentially causing delays and production stoppages [237]. Internal Control and Management Challenges - The company identified three material weaknesses in internal control over financial reporting as of December 31, 2022, which could affect the accuracy of financial statements [134]. - The company's ability to grow and manage its operations effectively may be hindered by inadequate management systems and controls, particularly during periods of expansion [92]. - The company may face challenges in integrating acquired assets, which could result in unforeseen operational difficulties and large expenditures [129].
IHS (IHS) - 2023 Q1 - Quarterly Report
2023-03-28 10:14
Exhibit 99.1 FOR IMMEDIATE RELEASE IHS HOLDING LIMITED REPORTS FOURTH QUARTER AND FULL YEAR 2022 FINANCIAL RESULTS CONSOLIDATED HIGHLIGHTS – FOURTH QUARTER 2022 2022. We also took steps to improve our stock trading liquidity and strengthen our balance sheet by pushing out debt maturities, and in the latter case, we've already taken further steps in 2023 to do the same. We also upstreamed over $200 million in cash from Nigeria, which is more than we did in 2021, despite a more challenging environment. And la ...
IHS (IHS) - 2022 Q3 - Earnings Call Transcript
2022-11-15 19:52
IHS Holding Limited (NYSE:IHS) Q3 2022 Earnings Conference Call November 15, 2022 8:30 AM ET Company Participants Colby Synesael - Senior Vice President, Communications Sam Darwish - Chairman & Chief Executive Officer Steve Howden - Chief Financial Officer Conference Call Participants Jonathan Atkin - RBC Capital Greg Williams - Cowen Brett Feldman - Goldman Sachs Michael Rollins - Citi Eric Luebchow - Wells Fargo David Shellhammer - PGIM Operator Good day and welcome to the IHS Holding Limited Results Call ...
IHS (IHS) - 2022 Q3 - Earnings Call Presentation
2022-11-15 13:38
3Q22 Earnings Results November 15, 2022 DISCLAIMER Forward-Looking Information This presentation 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 st ...
IHS (IHS) - 2022 Q3 - Quarterly Report
2022-11-15 11:11
Table of Contents Exhibit 99.1 TABLE OF CONTENTS | PART I —FINANCIAL INFORMATION | Page | | --- | --- | | Item 1. Financial Statements | 7 | | Condensed Consolidated Statement of (Loss)/Income and Other Comprehensive Loss (Unaudited) | 8 | | Condensed Consolidated Statement of Financial Position (Unaudited) | 9 | | Condensed Consolidated Statement of Changes in Equity (Unaudited) | 10 | | Condensed Consolidated Statement of Cash Flows (Unaudited) | 11 | | Notes to the Unaudited Condensed Consolidated Interi ...