Lagos, Nigeria — IHS Holding Limited has posted revenue of $433.3 million for the second quarter of 2025, prompting the telecommunications infrastructure company to raise its full-year guidance across all key performance metrics.

The results, released on the Nigerian Exchange on Wednesday, reflect a marginal 0.5% year-on-year decline. However, excluding the impact of the December 2024 disposal of its Kuwait operations, revenue increased 2.1%. Adjusted EBITDA stood at $248.5 million, underscoring continued operational strength.

The company now expects 2025 revenue between $1.70 billion and $1.73 billion, up from its previous forecast. Adjusted EBITDA and Adjusted Levered Free Cash Flow (ALFCF) projections have also been revised upwards.

“Our positive momentum continued in the second quarter, with strong performances across our key metrics… and a continued reduction in Total Capex,” said IHS Towers Chairman and CEO Sam Darwish. “Given our encouraging year-to-date progress… we are pleased to be raising our full-year 2025 guidance across all key metrics.”

Operationally, IHS has moved to strengthen its balance sheet by repaying high-interest debt in Nigeria and Brazil and agreeing to sell its Rwanda operations. These steps, the company said, form part of a broader plan to maximise free cash flow and cut group debt. Its consolidated net leverage ratio now stands at 3.4x, within target range.

Performance in Nigeria IHS’s largest market was supported by Naira stability and recent carrier tariff increases. Looking ahead, the company says it remains focused on de-leveraging and may allocate excess capital to share buybacks or a dividend policy as it nears its leverage goal.