IHS HOLDING LIMITED

• ◆

  Audit opinion: Qualified

  Latest auditor's report carried a non-clean opinion.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Qualified

Going concern

Affirmed

“Whilst inherently uncertain, and we expect some impact to our operations and performance, we currently do not believe that the ongoing uncertainty with the Naira exchange rate will directly have a material adverse effect on our financial condition or liquidity for the foreseeable future, given the contractual revenue resets. Having carefully considered this and the other factors noted above, the Directors have a reasonable expectation that the Group and the Company have adequate resources to continue in operational existence for at least 12 months from the date of issuance of these consolidated financial statements and to operate within the covenant levels of its current debt facilities. The Directors therefore continue to consider it appropriate to adopt the going concern basis of accounting in preparing the consolidated financial statements.”

Group structure

1. IHS HOLDING LIMITED · parent
   1. IHS Fiber Brasil - Cessão de Infraestruturas Ltda. 100% · Brazil · Holding company
   2. IHS Brasil - Cessão de Infraestruturas S.A. 100% · Brazil · Operating
   3. IHS Cameroon S.A. 100% · Cameroon · Operating
   4. IHS Kuwait Limited 0% · Kuwait · Operating

Significant events

• “On December 19, 2024, the Group completed the sale of its 70% interest in IHS Kuwait Limited ("IHS Kuwait") to Zain Group.”
• “On January 21, 2025, IHS Zambia Limited entered into an agreement to renew and extend its Master Tower Service and License Agreement with Airtel Networks Zambia PLC until August 2035.”
• “On March 13, 2025, the Group acquired 100% of SPE Imóveis e Torres Selecionados as part of the Oi S.A. Judicial Recovery Plan. The acquisition effectively converts the 1,567 towers and 187 related land assets, already held by the Group as right-of use assets, to property, plant and equipment. The transaction was non-cash and was settled through discounts already given to Oi under the Judicial Recovery Plan agreed in April 2024.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

2

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -19.5%

  £1,575,640,474 → £1,268,513,714

  lowest in 3 filed years

• Cash

  +96.7%

  £217,808,006 → £428,432,913

  highest in 3 filed years

• Net assets

  -185.2%

  £257,489,993 → -£219,280,208

  lowest in 3 filed years

• Employees

  —

  Not reported

• Operating profit

  -9.7%

  £393,366,938 → £355,186,805

• Profit before tax

  +14.4%

  -£1,394,106,746 → -£1,193,657,524

• Wages

  -13.7%

  £128,896,219 → £111,194,218

  lowest in 3 filed years

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers