IHS Holding Swings To Profit In Q1; To Sell IHS Rwanda To Paradigm Rwanda For Up To $274.5 Mln

(RTTNews) - IHS Holding Ltd. (IHS) reported Tuesday net income attributable to owners of the company for the first quarter of $33.1 million or $0.10 per share, compared to a net loss of $1.56 billion or $4.67 per share in the prior-year quarter.

Revenue for the quarter increased 5.2 percent to $439.6 million from $417.7 million in the same quarter last year. Organic revenue increased 25.6 percent. Analysts expected revenue of $408.98 million for the quarter.

Looking ahead to fiscal 2025, the company continues to expect revenues between $1.68 billion and $1.71 billion for the year. The Street is looking for revenues of $1.70 billion for the year.

Separately, IHS said it agreed to sell 100% of IHS Rwanda Ltd., a wholly owned subsidiary, to Paradigm Rwanda Holdings Ltd., a subsidiary of Paradigm Tower Ventures, for total consideration of up to $274.5 million.

The consideration includes deferred consideration of $70.0 million and $24.5 million payable up to two and three years, respectively, from the date of closing and an earn out of up to $5.0 million dependent on the future performance of IHS Rwanda.

The transaction is subject to customary closing conditions, including government and regulatory approvals, and is expected to close in the second half of 2025.

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