IHS (IHS) Q4 2025 earnings summary

Executive summary

• Achieved solid full-year revenue growth of 3.6% from continuing operations, with organic revenue up 10.1% year-over-year, driven by colocation, lease amendments, and new sites.

• Adjusted EBITDA rose 9.0% year-over-year to $1,012.3 million, and Adjusted Levered Free Cash Flow (ALFCF) increased 47.3% to $448.1 million.

• Net income for the year was $126.8 million, a significant turnaround from a loss of $1,644.2 million in 2024, primarily due to lower net financing costs and higher revenue.

• Announced the proposed sale of the company to MTN Group Limited at an enterprise value of $6.2 billion, and divestitures of Latin American and I-Systems operations.

Financial highlights

• Full-year revenue from continuing operations: $1,582.0 million (+3.6% year-over-year); discontinued Latam segment revenue: $193.5 million (+5.2%).

• Adjusted EBITDA: $1,012.3 million (+9.0% year-over-year); ALFCF: $448.1 million (+47.3%).

• Cash from operations: $983.0 million (+26.7% year-over-year).

• Total Capex: $246.4 million (down 3.7% year-over-year).

• Consolidated net leverage ratio reduced to 3.1x from 3.7x, within target range.

Outlook and guidance

• No full-year 2026 financial guidance provided due to the pending sale to MTN Group Limited.