Tower operator IHS’s full-year performance for 2025 shows the company generated 3.6% more revenue in 2025 than in 2024.
The firm yesterday released its financial results for the fourth quarter and full year ended 31 December, with revenue from continuing operations rising 3.6% to $1.58 billion.
By comparison, the 2024 financial year’s revenue were recorded at $1.53 billion. Revenue from discontinued operations grew 5.2% to $193.5 million.
IHS highlights that adjusted EBITDA increased 9% to just over $1 billion, indicating improved operating efficiency and margin expansion.
The company moved to a full-year profit of $126.8 million from a loss of $1.64 billion in 2024, it states.
In addition, cash generation strengthened materially, with cash from operations up 26.7% to $983 million and adjusted levered free cash flow (ALFCF) climbing 47.3% to $448.1 million.
However, the fourth quarter was subdued, with revenue from continuing operations up 1.2% to $397.8 million, adjusted EBITDA rising 1.4% to $249.8 million, and both operating cash flow and ALFCF declining year-on-year, while the quarterly loss extended to $107.7 million from $83.5 million.
This, according to the tower operator, suggests late-year pressure despite the stronger full-year outcome.
Sam Darwish, IHS Towers chairman and CEO, said the communications infrastructure firm’s performance rounded up a year of “solid revenue growth and profitability”.
“Looking ahead, the proposed sale of IHS Towers to MTN represents the next step in our long-standing partnership with MTN. The transaction brings together Africa’s largest mobile network operator with one of the continent’s leading digital infrastructure platforms, highlighting the deep connection we have built with the markets we serve across Africa.”
In February, South African-based telephony group MTN announced it was in advanced discussions to acquire the 75% shares in the tower operator that it does not already own.
The proposed sale stands at an enterprise value of $6.2 billion, it has been revealed.
The deal comes after in 2022, IHS Towers completed the acquisition of over 5 700 MTN towers in SA, in a deal that saw the NYSE-listed tower company fork out R6.4 billion.
After the 2022 deal, IHS Towers owned 70% of MTN SA’s towers business, with the remaining 30% owned by a B-BBEE consortium. Under the deal, IHS Towers provided power management services to MTN SA on approximately 13 000 sites, including the acquisition portfolio.
In its full-year results announced yesterday, the JSE-listed telco said it believes the IHS transaction will strengthen its operational and strategic positioning, as well as capture efficiencies from internalising of complementary infrastructure into the group.
“In terms of ongoing key strategic initiatives, we prioritise completing the structural separation of the fintech businesses in Ghana, Uganda and Nigeria, as well as concluding the acquisition of IHS,” said the company.
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