IHS
IHS was founded in 2001 and is one of the world’s largest independent owners, managers and operators of telecoms towers. It is a leading player in the EMEA region in terms of the number of towers.
The group builds, rents out and manages telecoms towers on its own account and on behalf of third parties. IHS works with leading mobile phone operators in each of its markets and is very well positioned to benefit from strong growth in infrastructure requirements in Africa, the Middle East and Latin America. Having initially focused on Nigeria, IHS has grown through acquisitions and now also operates in Cameroon, Ivory Coast, Zambia and Rwanda. It has also expanded outside of Africa into Kuwait, Brazil, Colombia and Peru, thereby establishing itself as a leading player in emerging markets.
- Investment date
- 2013
Peugeot Invest's investment
Peugeot Invest has invested $78 million in IHS through four capital increases. After an initial investment of $5 million in 2013 alongside the Emerging Capital Partners (ECP) fund, Peugeot Invest invested a further $10 million in early 2014 then $60 million in November 2014, including $50 million alongside Wendel.
IHS has been listed since November 2021. Peugeot Invest holds 1.5% of the capital.
In 2023
IHS now manages more than 40,075 towers across 11 countries in Africa, the Middle East and Latin America.
In 2023, the company continued to develop in an unfavourable economic environment marked by the sharp devaluation of the Nigerian naira, and reported sales of $2.13 billion, representing growth of 8.4%, and an adjusted EBITDA margin of 53%, up 70 basis points. Net debt stood at $3.8 billion, representing a gearing ratio of 3.4x.
The company is targeting sales of between $1.7 billion and $1.73 billion and EBITDA of between $935 million and $955 million for 2024, with the decline due to the devaluation of the naira.
Key figures
- Invested amount
- € 78 m
- Number of towers
- 40,075
- Revenue 2023
- bn 2,1 $