IHS Holding Limited reported strong financial results for the second quarter ended June 30, 2025, with revenue reaching $433 million. The company achieved an Adjusted EBITDA of $248.5 million, maintaining a robust 57% margin, and generated $54 million in Adjusted Levered Free Cash Flow (ALFCF). Total capital expenditure decreased by 14% year-on-year to $46 million, reflecting disciplined capital allocation.
The company made significant progress in balance sheet optimization, repaying $154 million of high-interest debt during the quarter, including an $80 million Nigerian term loan and $273 million of Brazilian debentures. This proactive debt management lowered the weighted average cost of debt by 100 basis points and reduced consolidated net leverage to 3.4x at the end of Q2 2025, down from 3.9x a year prior. Liquidity was bolstered to over $830 million by refinancing its $300 million revolving credit facility, extending its availability to Q3 2028.
IHS Holding Limited raised its full-year 2025 guidance across all key metrics, now expecting revenue between $1.7 billion and $1.73 billion, Adjusted EBITDA between $985 million and $1.005 billion, and ALFCF between $390 million and $410 million. Total capital expenditure is projected to be in the range of $240 million to $270 million, a reduction from previous guidance. This revised outlook implies an 11% organic revenue growth rate at the midpoint and positions the company to evaluate the introduction of dividends and/or share buybacks as net leverage approaches its target range.
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