IHS Holding Limited reported its financial results for the first quarter ended March 31, 2025, showing a significant return to profitability. The company posted revenue of $439.6 million, an increase compared to $417.7 million in the same period last year. Net income for the quarter was $33.1 million, a substantial improvement from a net loss of $1,553.4 million a year ago.
Basic and diluted earnings per share from continuing operations both reached $0.10, contrasting sharply with a basic and diluted loss per share of $4.67 in the first quarter of 2024. This turnaround reflects the company's strategic initiatives to enhance profitability and manage operational costs effectively. The company also reiterated its full-year 2025 guidance, expecting approximately 12% organic revenue year-over-year growth at the mid-point.
Concurrently, IHS Towers announced an agreement to sell 100% of IHS Rwanda Limited, including its approximately 1,465 sites, to Paradigm Tower Ventures. The transaction, expected to close in the second half of 2025, has an enterprise value of $274.5 million, implying a transaction multiple of 8.3x adjusted EBITDA after leases. This divestiture, part of the company's strategic review, highlights the value of its assets and aims to further optimize its portfolio and enhance shareholder value.
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