v3.26.1
Segment reporting (Tables)
3 Months Ended
Mar. 31, 2026
Segment reporting  
Schedule of summarized financial information

Summarized financial information is as follows:

Nigeria

  ​ ​ ​

SSA

  ​ ​ ​

Latam

  ​ ​ ​

Total

  ​ ​ ​

$'m

  ​ ​ ​

$'m

  ​ ​ ​

$'m

  ​ ​ ​

$'m

Three months ended March 31, 2026

Revenues from external customers - continuing operations

285.0

130.4

415.4

Revenues from external customers - discontinued operations

51.8

51.8

Revenues from external customers

285.0

130.4

51.8

Segment Adjusted EBITDA

182.6

77.6

37.6

297.8

Three months ended March 31, 2025

Revenues from external customers - continuing operations

271.4

120.7

392.1

Revenues from external customers - discontinued operations

47.5

47.5

Revenues from external customers

271.4

120.7

47.5

Segment Adjusted EBITDA

179.2

71.7

35.6

286.5

Schedule of items included in measurement of adjusted EBITDA

Each segment's Adjusted EBITDA above includes the following items:

Continuing operations

Discontinued operations

Nigeria

  ​ ​ ​

SSA

  ​ ​ ​

Unallocated items

  ​ ​ ​

Total

Latam

  ​ ​ ​

$'m

  ​ ​ ​

$'m

  ​ ​ ​

$'m

  ​ ​ ​

$'m

$'m

Three months ended March 31, 2026

Power generation

 

61.7

 

23.9

 

 

85.6

1.2

Staff costs

 

12.3

 

7.2

 

19.9

 

39.4

6.3

Tower repairs and maintenance

 

6.6

 

6.6

 

 

13.2

2.1

Three months ended March 31, 2025

Power generation

 

61.7

 

22.7

 

 

84.4

1.2

Staff costs

 

8.0

 

8.4

 

24.3

 

40.7

4.4

Tower repairs and maintenance

 

5.0

 

5.7

 

 

10.7

2.3

Schedule of reconciliation of information on reportable segments to the amounts reported in the financial statements

Three months ended

March 31, 

March 31, 

  ​ ​ ​

2026

  ​ ​ ​

2025

$'m

$'m

Segment Adjusted EBITDA

297.8

286.5

Unallocated corporate expenses(a)

(29.1)

(33.9)

Finance costs

(125.0)

(114.3)

Depreciation and amortization

(55.8)

(89.4)

Share‑based payment expense

(23.9)

(5.5)

Other costs(b)

(24.5)

(3.1)

Net impairment of property, plant and equipment, intangible assets excluding goodwill and related prepaid land rent(c)

(32.8)

(2.0)

Business combination costs (note 7)

(9.2)

(0.9)

Insurance claims

0.1

Net gain/(loss) on disposal of property, plant and equipment and right-of-use assets

1.5

(1.2)

Net (impairment loss)/reversal of withholding tax receivables (note 7)

(5.5)

12.4

Finance income

126.5

20.5

Exclude: (income)/loss before tax from discontinued operations

(2.8)

21.8

Income before tax

117.2

91.0

(a)Unallocated corporate expenses primarily consist of costs associated with centralized Group functions including Group executive, finance, HR, IT, legal, tax and treasury services.
(b)Other costs for the three months ended March 31, 2026, included $17.5 million (three months ended March 31, 2025: $nil) of one-off long-term employee benefit costs in relation to business disposals and the merger agreement with MTN Group Limited announced in February 2026, and one-off expenses related to strategic initiatives and operating systems of $7.0 million (three months ended March 31, 2025: $1.5 million).  
(c)Includes impairment of held for sale non-current assets of $29.9 million (three months ended March 31. 2025: $nil) (see note 20.1).
Schedule of segment assets, liabilities and additions

Nigeria

  ​ ​ ​

SSA

  ​ ​ ​

Latam

  ​ ​ ​

Total

  ​ ​ ​

$'m

  ​ ​ ​

$'m

  ​ ​ ​

$'m

  ​ ​ ​

$'m

Additions of property, plant and equipment, right-of-use assets and intangible assets:

Three months ended March 31, 2026

- Segments

17.4

8.4

21.5

47.3

- Unallocated items

47.3

Three months ended March 31, 2025

- Segments

1.6

18.7

36.1

56.4

- Unallocated items

0.4

56.8

Schedule of revenue from tier one customers

Three months ended

March 31, 

March 31, 

  ​ ​ ​

2026

  ​ ​ ​

2025

Customer A

69%

71%

Customer B

19%

17%