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	<title>La Bourse et la Vie TV L&#039;info éco à valeur ajoutée</title>
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	<link>https://www.labourseetlavie.com/</link>
	<description>Le Netflix de la Bourse avec les dirigeants</description>
	<lastBuildDate>Thu, 21 May 2026 19:38:11 +0000</lastBuildDate>
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	<url>https://www.labourseetlavie.com/wp-content/uploads/2015/12/cropped-Logo-La.BourseEtLaVie-HD-fond-transparent-32x32.jpg</url>
	<title>La Bourse et la Vie TV L&#039;info éco à valeur ajoutée</title>
	<link>https://www.labourseetlavie.com/</link>
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	<item>
		<title>Assemblée Générale ADOCIA : Les dirigeants prennent la parole : AG le 3 juin à 10 heures à Paris</title>
		<link>https://www.labourseetlavie.com/strategies/presentation-investisseurs/assemblee-generale-adocia-les-dirigeants-prennent-la-parole</link>
		
		<dc:creator><![CDATA[Didier Testot]]></dc:creator>
		<pubDate>Thu, 21 May 2026 14:18:05 +0000</pubDate>
				<category><![CDATA[PRÉSENTATION INVESTISSEURS]]></category>
		<category><![CDATA[ actionnaires]]></category>
		<category><![CDATA[ AG]]></category>
		<category><![CDATA[ assemblée générale]]></category>
		<category><![CDATA[ insuline]]></category>
		<category><![CDATA[ investisseurs]]></category>
		<category><![CDATA[ obésité]]></category>
		<category><![CDATA[ stéphane boissel]]></category>
		<category><![CDATA[$ADOC.PA]]></category>
		<category><![CDATA[adocia]]></category>
		<category><![CDATA[biotech]]></category>
		<category><![CDATA[bourse]]></category>
		<category><![CDATA[Olivier Soula]]></category>
		<guid isPermaLink="false">https://www.labourseetlavie.com/?p=132460</guid>

					<description><![CDATA[<p>L&#8217;Assemblée Générale des actionnaires d&#8217;ADOCIA se tiendra à Paris le 3 juin à 10 heures. Olivier Soula Co-fondateur et CEO d&#8217;ADOCIA et Stéphane Boissel Président du Conseil d&#8217;Administration prennent la parole. Gouvernance, ambitions de long terme d&#8217;ADOCIA, priorités opérationnelles et scientifiques pour les prochains mois, discussions et conditions nécessaires pour une signature de partenariat&#8230; Les [&#8230;]</p>
<p>L’article <a href="https://www.labourseetlavie.com/strategies/presentation-investisseurs/assemblee-generale-adocia-les-dirigeants-prennent-la-parole">Assemblée Générale ADOCIA : Les dirigeants prennent la parole : AG le 3 juin à 10 heures à Paris</a> est apparu en premier sur <a href="https://www.labourseetlavie.com">La Bourse et la Vie TV L&#039;info éco à valeur ajoutée</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>L&rsquo;Assemblée Générale des actionnaires d&rsquo;ADOCIA se tiendra à Paris le 3 juin à 10 heures.</p>
<p><strong><a href="https://www.labourseetlavie.com/strategie-et-resultats/olivier-soula-directeur-general-adocia-nouer-un-partenariat">Olivier Soula</a> Co-fondateur et CEO d&rsquo;ADOCIA</strong> et <strong>Stéphane Boissel Président du Conseil d&rsquo;Administration</strong> prennent la parole.</p>
<p>Gouvernance, ambitions de long terme d&rsquo;<strong>ADOCIA</strong>, priorités opérationnelles et scientifiques pour les prochains mois, discussions et conditions nécessaires pour une signature de partenariat&#8230;</p>
<p>Les deux dirigeants invitent les actionnaires à voter en ligne ou par courrier.</p>
<p>Ils répondront également à leurs questions à cette occasion.</p>
<p class="bawpvc-ajax-counter" data-id="132460">
<p>L’article <a href="https://www.labourseetlavie.com/strategies/presentation-investisseurs/assemblee-generale-adocia-les-dirigeants-prennent-la-parole">Assemblée Générale ADOCIA : Les dirigeants prennent la parole : AG le 3 juin à 10 heures à Paris</a> est apparu en premier sur <a href="https://www.labourseetlavie.com">La Bourse et la Vie TV L&#039;info éco à valeur ajoutée</a>.</p>
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		<item>
		<title>Skillsoft Announces Sale of Global Knowledge Business to Enduring Ventures</title>
		<link>https://www.labourseetlavie.com/actualites-economiques-et-financieres-actualites/skillsoft-announces-sale-of-global-knowledge-business-to-enduring-ventures</link>
		
		<dc:creator><![CDATA[Didier Testot]]></dc:creator>
		<pubDate>Wed, 20 May 2026 22:02:44 +0000</pubDate>
				<category><![CDATA[ACTUALITÉS ÉCONOMIQUES ET FINANCIÈRES]]></category>
		<guid isPermaLink="false">https://www.labourseetlavie.com/actualites-economiques-et-financieres-actualites/skillsoft-announces-sale-of-global-knowledge-business-to-enduring-ventures</guid>

					<description><![CDATA[<p>Strategic transaction sharpens Skillsoft’s focus on its AI-native skills management platform, while preserving instructor-led training capabilities through a strategic partnership BOSTON&#8211;&#8211;Skillsoft  , a leading AI-native skills management platform, today announced that it has entered into a definitive agreement to sell its Global Knowledge instructor-led training  business to an [&#8230;]</p>
<p>L’article <a href="https://www.labourseetlavie.com/actualites-economiques-et-financieres-actualites/skillsoft-announces-sale-of-global-knowledge-business-to-enduring-ventures">Skillsoft Announces Sale of Global Knowledge Business to Enduring Ventures</a> est apparu en premier sur <a href="https://www.labourseetlavie.com">La Bourse et la Vie TV L&#039;info éco à valeur ajoutée</a>.</p>
]]></description>
										<content:encoded><![CDATA[<div>
<p class="bwalignc">
<i>Strategic transaction sharpens Skillsoft’s focus on its AI-native skills management platform, while preserving instructor-led training capabilities </i><i>through a strategic partnership</i></p>
<p>BOSTON&#8211;(BUSINESS WIRE)&#8211;Skillsoft (NYSE: SKIL) (“Skillsoft” or “the Company”), a leading AI-native skills management platform, today announced that it has entered into a definitive agreement to sell its Global Knowledge instructor-led training (“ILT”) business to an affiliate of Enduring Ventures (the “Buyer”). The transaction follows a comprehensive strategic assessment and represents a significant milestone in Skillsoft’s transformation.</p>
<p><a href="https://mms.businesswire.com/media/20260520936193/en/2726765/5/Skillsoft_Logo_New.jpg"><img decoding="async" src="https://mms.businesswire.com/media/20260520936193/en/2726765/22/Skillsoft_Logo_New.jpg" title="" alt="" /></a><br /><a href="https://mms.businesswire.com/media/20260520936193/en/2726765/5/Skillsoft_Logo_New.jpg"><img decoding="async" src="https://mms.businesswire.com/media/20260520936193/en/2726765/21/Skillsoft_Logo_New.jpg" title="" alt="" /></a></p>
<p>
Skillsoft expects the transaction to deliver three primary strategic benefits:</p>
<ul class="bwlistdisc">
<li>
<b>Increased Focus:</b> Allows Skillsoft to focus on scaling its AI-native skills management platform, including investments in content, technology, and AI-driven learning solutions.</li>
<li>
<b>Simplified Operating Model:</b> Streamlines operations and enhances management focus on higher growth, higher-margin opportunities and improving growth, earnings, and free cash flow.</li>
<li>
<b>Continued Customer Value:</b> Skillsoft expects to maintain a strategic partnership with Global Knowledge following the transaction. Skillsoft customers would retain access to high-quality instructor-led training. Global Knowledge customers would retain access to the Skillsoft platform. Both organizations are committed to delivering integrated, multimodal learning experiences to their respective customer bases.</li>
</ul>
<p>
“Following a comprehensive strategic review, we determined that this transaction is the right step to further sharpen our focus and accelerate Skillsoft’s transformation,” said Ron Hovsepian, Chief Executive Officer of Skillsoft. “This strengthens our ability to concentrate investment, innovation, and resources on our AI-native skills management platform, where we see the greatest opportunity to help organizations build workforce readiness, close critical skill gaps, and drive measurable business outcomes.”</p>
<p>
Hovsepian continued, “We expect the deal to be immediately accretive to growth rates, earnings, and cash flow. Our customers are under immense pressure to build AI-ready workforces, and we are now in a stronger position to meet that demand.”</p>
<p>
Sieva Kozinsky, Managing Partner of Enduring Ventures, commented, “Global Knowledge is the gold standard in technology and IT training, with a 30-year track record helping organizations upskill their technical workforce. We&rsquo;re acquiring it because we believe that mission is more relevant today than ever. The pace of AI-driven change means that continuous, expert-led training isn&rsquo;t a nice-to-have, it&rsquo;s a competitive necessity. We look forward to building Global Knowledge through the next chapter, along with our continued partnership with Skillsoft, providing our common customers with the best in skills development through multi-modal learning.”</p>
<p>
<b>Transaction Details</b></p>
<p>
Pursuant to the terms of the agreement, at the closing of the transaction, Skillsoft will be entitled to initial consideration of an amount equal to $10 million, subject to adjustment as set forth in the agreement, including adjustments based on the estimated working capital (including cash) and indebtedness of Global Knowledge as of immediately prior to the closing date. This initial purchase consideration of $10 million is to be funded by Global Knowledge’s cash, a seller note issued by Global Knowledge to Skillsoft and/or third-party financing obtained by the Buyer. The seller note, which is payable to Skillsoft on July 31, 2026 (with $2 million of the principal amount extendable to October 31, 2026), will be secured by Global Knowledge’s cash and accounts receivable.</p>
<p>
Commencing nine months after the closing of the transaction, Skillsoft will also be entitled to deferred consideration in an aggregate amount of $10 million, less approximately $2 million related to long-term employee liabilities, payable in five equal quarterly installments, subject to certain off-set rights. While the ultimate collectability of the purchase consideration is subject to the operations of the divested business and its ability to obtain suitable third-party or seller financing, the Buyer’s obligation to pay the deferred consideration will be guaranteed by Global Knowledge and secured by Global Knowledge’s intellectual property rights.</p>
<p>
The transaction is subject to customary closing conditions, including regulatory approvals, and we currently expect the transaction to close in the second fiscal quarter.</p>
<p>
<b>Advisors</b></p>
<p>
Jefferies LLC acted as exclusive financial advisor to Skillsoft. Skadden, Arps, Slate, Meagher &amp; Flom LLP served as legal counsel to Skillsoft.</p>
<p>
<b>About Skillsoft</b></p>
<p>
Skillsoft (NYSE: SKIL) is a global leader in skills management for the human + AI era. The AI-native Skillsoft platform gives a clear view of workforce capability, closes critical skill gaps, and proves the impact of skills on business outcomes. With Skillsoft, organizations can build AI-ready teams, lower the cost and time of workforce development, and reduce execution risk as work continues to change. Thousands of organizations worldwide trust Skillsoft to power workforce readiness. Learn more at skillsoft.com.</p>
<p>
<b>Forward-Looking Statements</b></p>
<p>
This press release includes statements that are, or may be deemed to be, “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. For all such statements, we claim the protection of the safe harbor for forward-looking statements provided by such sections and the Private Securities Litigation Reform Act of 1995, where applicable. All statements, other than statements of historical facts, are forward-looking statements. These forward-looking statements include, but are not limited to, statements that address activities, events or developments that we expect or anticipate may occur in the future, including statements with respect to the anticipated benefits of the Global Knowledge transaction, the expected timeline for completing the transaction, the anticipated consideration, expectations regarding the strategic partnership with Global Knowledge and the ability of Skillsoft customers to access ILT offerings pursuant thereto, our product development and planning, our pipeline, future capital expenditures and capital allocation, and our ability to successfully implement our plans, strategies, objectives, and our expectations and intentions. Forward-looking statements may, without limitation, be preceded by, followed by, or include words such as “may,” “will,” “would,” “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “contemplate,” “continue,” “project,” “forecast,” “seek,” “outlook,” “target,” “goal,” “objective,” “potential,” “possible,” “probably,” or similar expressions, employ such future or conditional verbs as “may,” “might,” “will,” “could,” “should,” or “would,” or may otherwise be indicated as forward-looking statements by grammatical construction, phrasing or context. Such statements are based upon the current beliefs and expectations of Skillsoft’s management and are subject to significant risks and uncertainties. Actual results may differ materially from those set forth in the forward-looking statements. All forward-looking disclosures are speculative by their nature, and we caution you against unduly relying on these forward-looking statements.</p>
<p>
Factors, many of which are beyond our control, that could cause or contribute to such differences include those described under “Part I &#8211; Item 1A. Risk Factors” and “Part II, Item 7 &#8211; Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations” in our Form 10-K for the fiscal year ended January 31, 2026 (“2026 Form 10-K”). These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements included in the 2026 Form 10-K, in this document and in our other periodic filings with the Securities and Exchange Commission (« SEC »). The forward-looking statements contained in this document represent our estimates only as of the date of this press release and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update these forward-looking statements in the future, we specifically disclaim any obligation to do so, whether to reflect actual results, changes in assumptions, changes in other factors affecting such forward-looking statements, or otherwise, except as required by law. You are advised, however, to review any further factors and risks we describe in reports we file from time to time with the SEC after the date hereof.</p>
<p>
Although we believe that the assumptions underlying our forward-looking statements are reasonable, any of these assumptions, and therefore also the forward-looking statements based on these assumptions, could themselves prove to be inaccurate. Given the significant uncertainties inherent in the forward-looking statements included in this press release, our inclusion of this information is not a representation or guarantee by us that our objectives and plans will be achieved.</p>
<p>
All forward-looking statements contained herein are expressly qualified in their entirety by the foregoing cautionary statements.</p>
<p> <b>Contacts</b> </p>
<p>
<b>Investor Contact</b><br />Ross Collins<br />
<br /><a target="_blank" href="mailto:SKIL@alpha-ir.com" rel="nofollow" shape="rect">SKIL@alpha-ir.com</a></p>
<p>
<b>Media Contact</b><br />Skillsoft PR<br />
<br /><a target="_blank" href="mailto:PR@skillsoft.com" rel="nofollow" shape="rect">PR@skillsoft.com</a></p>
</div>
<p class="bawpvc-ajax-counter" data-id="132457">
<p>L’article <a href="https://www.labourseetlavie.com/actualites-economiques-et-financieres-actualites/skillsoft-announces-sale-of-global-knowledge-business-to-enduring-ventures">Skillsoft Announces Sale of Global Knowledge Business to Enduring Ventures</a> est apparu en premier sur <a href="https://www.labourseetlavie.com">La Bourse et la Vie TV L&#039;info éco à valeur ajoutée</a>.</p>
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		<item>
		<title>Michel Artières Pdg ATEME : « Depuis cette annonce, on a vu une accélération sensible des évaluations de nos produits » : Tech Day 2026</title>
		<link>https://www.labourseetlavie.com/strategie-et-resultats/michel-artieres-pdg-ateme-depuis-cette-annonce-on-a-vu-une-acceleration-sensible-des-evaluations-de-nos-produits</link>
		
		<dc:creator><![CDATA[Didier Testot]]></dc:creator>
		<pubDate>Tue, 19 May 2026 12:58:54 +0000</pubDate>
				<category><![CDATA[STRATEGIE ET RÉSULTATS]]></category>
		<category><![CDATA[ apple]]></category>
		<category><![CDATA[ encodage]]></category>
		<category><![CDATA[ event]]></category>
		<category><![CDATA[ live]]></category>
		<category><![CDATA[ smartphones]]></category>
		<category><![CDATA[ sport]]></category>
		<category><![CDATA[ streaming]]></category>
		<category><![CDATA[ telecoms]]></category>
		<category><![CDATA[ tv]]></category>
		<category><![CDATA[bourse]]></category>
		<category><![CDATA[logiciels]]></category>
		<category><![CDATA[Michel Artières Pdg Ateme]]></category>
		<category><![CDATA[monétisation]]></category>
		<category><![CDATA[netflix]]></category>
		<category><![CDATA[OTT]]></category>
		<category><![CDATA[replay]]></category>
		<category><![CDATA[sports]]></category>
		<category><![CDATA[Tech]]></category>
		<category><![CDATA[vidéo]]></category>
		<guid isPermaLink="false">https://www.labourseetlavie.com/?p=132452</guid>

					<description><![CDATA[<p>Tech Day 2026 d&#8217;ATEME. La société a présenté aux investisseur les nouvelles fonctionnalités liée à l&#8217;IA pour ses activités. Et les développements dans le streaming, le sport et la monétisation. Récemment la société a été retenue par Netflix et « depuis cette annonce, on a vu une accélération sensible des évaluations de nos produits par des [&#8230;]</p>
<p>L’article <a href="https://www.labourseetlavie.com/strategie-et-resultats/michel-artieres-pdg-ateme-depuis-cette-annonce-on-a-vu-une-acceleration-sensible-des-evaluations-de-nos-produits">Michel Artières Pdg ATEME : « Depuis cette annonce, on a vu une accélération sensible des évaluations de nos produits » : Tech Day 2026</a> est apparu en premier sur <a href="https://www.labourseetlavie.com">La Bourse et la Vie TV L&#039;info éco à valeur ajoutée</a>.</p>
]]></description>
										<content:encoded><![CDATA[<h1>Tech Day 2026 d&rsquo;ATEME.</h1>
<p>La société a présenté aux investisseur les nouvelles fonctionnalités liée à l&rsquo;IA pour ses activités.</p>
<p>Et les développements dans le streaming, le sport et la monétisation.</p>
<p>Récemment la société a été retenue par <strong>Netflix</strong> et « depuis cette annonce, on a vu une accélération sensible des évaluations de nos produits par des clients qui jusqu&rsquo;à maintenant étaient un peu plus réticents à démarrer une évaluation » nous dit dans cette interview <strong>Michel Artières, le Pdg d&rsquo;ATEME.</strong></p>
<p>&nbsp;</p>
<p>Retrouvez les dernières vidéos de la société <strong>ATEME</strong> sur ce lien : <a href="https://www.google.com/search?q=labourseetlavie++ateme&amp;ei=nD7ZY_7JMLnAkdUPteS7iAc&amp;ved=0ahUKEwj-h5CdmvL8AhU5YKQEHTXyDnEQ4dUDCA8&amp;uact=5&amp;oq=labourseetlavie++ateme&amp;gs_lcp=Cgxnd3Mtd2l6LXNlcnAQAzIICCEQoAEQwwQ6CwgAEAcQHhDxBBAKOgkIABAHEB4Q8QQ6CAgAEAgQBxAeOgUIABCiBDoHCAAQHhCiBEoECEEYAEoECEYYAFAAWOAOYKEQaABwAHgAgAGiAYgB7Q-SAQQyLjE0mAEAoAEBwAEB&amp;sclient=gws-wiz-serp">Vidéo Ateme</a></p>
<p class="bawpvc-ajax-counter" data-id="132452">
<p>L’article <a href="https://www.labourseetlavie.com/strategie-et-resultats/michel-artieres-pdg-ateme-depuis-cette-annonce-on-a-vu-une-acceleration-sensible-des-evaluations-de-nos-produits">Michel Artières Pdg ATEME : « Depuis cette annonce, on a vu une accélération sensible des évaluations de nos produits » : Tech Day 2026</a> est apparu en premier sur <a href="https://www.labourseetlavie.com">La Bourse et la Vie TV L&#039;info éco à valeur ajoutée</a>.</p>
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		<title>Pour les dettes publiques c&#8217;est toujours plus : L&#039;info éco + sur Sud Radio avec Didier Testot LA BOURSE ET LA VIE TV (10mai 2026)</title>
		<link>https://www.labourseetlavie.com/economie-et-pedagogie/linfo-eco-presentee-par-didier-testot-sur-sud-radio/pour-les-dettes-publiques-cest-toujours-plus</link>
		
		<dc:creator><![CDATA[Didier Testot]]></dc:creator>
		<pubDate>Thu, 14 May 2026 09:08:42 +0000</pubDate>
				<category><![CDATA[L'info Éco + présentée par Didier Testot sur Sud Radio]]></category>
		<category><![CDATA[ budget]]></category>
		<category><![CDATA[ dépenses publiques]]></category>
		<category><![CDATA[ didier testot]]></category>
		<category><![CDATA[ luxe]]></category>
		<category><![CDATA[ PIB]]></category>
		<category><![CDATA[10 mai 1981]]></category>
		<category><![CDATA[bourse]]></category>
		<category><![CDATA[dette publique]]></category>
		<category><![CDATA[economie]]></category>
		<category><![CDATA[intelligence artificielle]]></category>
		<category><![CDATA[L'info éco +]]></category>
		<category><![CDATA[lvmh]]></category>
		<category><![CDATA[puces]]></category>
		<category><![CDATA[Sud Radio]]></category>
		<guid isPermaLink="false">https://www.labourseetlavie.com/?p=132436</guid>

					<description><![CDATA[<p>« L’info éco + » cette semaine avec les thèmes suivants : Nous sommes le 10 mai 2026, il y a 45 ans, l’élection de François Mitterrand et une dette publique qui ne cesse de grossir  Alors le 10 mai 1981, que vous soyez heureux ou déprimé par la victoire de François Mitterrand, il y [&#8230;]</p>
<p>L’article <a href="https://www.labourseetlavie.com/economie-et-pedagogie/linfo-eco-presentee-par-didier-testot-sur-sud-radio/pour-les-dettes-publiques-cest-toujours-plus">Pour les dettes publiques c&rsquo;est toujours plus : L&#039;info éco + sur Sud Radio avec Didier Testot LA BOURSE ET LA VIE TV (10mai 2026)</a> est apparu en premier sur <a href="https://www.labourseetlavie.com">La Bourse et la Vie TV L&#039;info éco à valeur ajoutée</a>.</p>
]]></description>
										<content:encoded><![CDATA[<h1>« L’info éco + » cette semaine avec les thèmes suivants :</h1>
<p><strong>Nous sommes le 10 mai 2026, il y a 45 ans, l’élection de François Mitterrand et une dette publique qui ne cesse de grossir </strong></p>
<p><em><strong> Alors le 10 mai 1981</strong>, que vous soyez heureux ou déprimé par la victoire de François Mitterrand, il y a une certitude côté gestion de nos finances publiques, ça s’est empiré confirmant une continuité au-delà des étiquettes politiques. Le contraste est saisissant. En mai 1981, la dette publique française représente environ 21% de notre Produit Intérieur Brut (PIB), soit un peu moins de 100 milliards d’euros (en valeur convertie). La France est alors un pays très peu endetté. Aujourd’hui, en mai 2026, cette dette gravite autour des 112% du PIB, dépassant allègrement la barre symbolique des 3 200 milliards d’euros. Alors comment en est-on arrivé la ? La réponse est terrible mais simple : la France n’a pas voté un seul budget à l’équilibre depuis… 1974. Donc depuis 45 ans, chaque année, l’État dépense plus que ce qu’il ne prélève en impôts. Dans les années 80, avec la fin des Trente Glorieuses, on a financé le modèle social (retraite à 60 ans, 5<sup>ème</sup> semaine de congés payés, hausse du SMIC) par l’emprunt plutôt que par la croissance. C’est comme un ménage qui, tous les mois depuis 45 ans, utiliserait un crédit à la consommation pour payer ses courses alimentaires. Forcément, le capital à rembourser s’accumule.</em></p>
<p><strong>La dette n’a pas augmenté de manière linéaire pendant ces années</strong></p>
<p><em>En réalité, elle a on peut le dire explosé par paliers lors des crises majeures. Il y a eu le krach financier de 2008 (la dette bondit de 64% à plus de 80%), la pandémie de Covid-19 en 2020 avec le « Quoi qu&rsquo;il en coûte » (saut historique au-dessus des 110%), et enfin la crise énergétique de 2022 (boucliers tarifaires). C’est « l&rsquo;effet cliquet » Quand une crise survient, l&rsquo;État emprunte massivement pour sauver l&rsquo;économie (ce qui est justifié, c&rsquo;est le rôle de pompier de l&rsquo;État). Le problème, c&rsquo;est qu&rsquo;une fois la crise passée, la France ne réduit jamais ses dépenses pour rembourser cette dette exceptionnelle. Le niveau de dépense publique (qui représente en France plus de 57% du PIB, un record mondial) ne redescend jamais à son niveau d&rsquo;avant-crise. L&rsquo;État français sait appuyer sur l&rsquo;accélérateur de la dépense, mais n&rsquo;a jamais trouvé la pédale de frein.</em></p>
<p><strong>Ce qui a changé c’est le poids de la charge de la dette ? </strong></p>
<p><em>Oui pendant pendant les années 2010 après la crise financière de 2008, cette dette n&rsquo;était pas douloureuse car les taux d&rsquo;intérêt étaient à zéro, voire négatifs. L&rsquo;argent était gratuit disait-on. Mais en 2026, avec des taux qui sont remontés et se sont stabilisés à des niveaux élevés pour contrer l&rsquo;inflation, la donne a changé. Le seul remboursement des intérêts de la dette (sans même rembourser le capital) coûte désormais plus de 50 milliards d&rsquo;euros par an à la France. C’est l’effet d’éviction quand la charge de la dette devient le premier ou le deuxième budget de la Nation, à égalité avec l&rsquo;Éducation Nationale, et loin devant la Justice ou la Transition Écologique. Payer les intérêts de la dette chaque milliard versé aux créanciers internationaux est un milliard qui n&rsquo;ira ni dans les hôpitaux, ni dans les écoles, ni dans la baisse des impôts. C&rsquo;est le prix de 45 ans de facilité ou de lâcheté politique, avec la complicité des Français qui n’ont rien trouvé à redire pendant toutes ces années mais qui se rappelle au bon souvenir du contribuable d&rsquo;aujourd&rsquo;hui. I<strong>l y a 150 ans en 1876, les enfants Français apprenaient les rudiments de finance à l’école alimentaire, il serait temps de redonner les bases !</strong></em></p>
<p><strong> L</strong><strong>a crise économique actuelle ne touche pas pour le moment un secteur lié à l’intelligence artificielle, c’est même plutôt l’inverse pour les puces </strong></p>
<p><em>La Tech ou L&rsquo;ivresse des puces on aurait pu penser à plus de calme sur ce secteur mais l’actualité de cette semaine est marquée par une accélération vertigineuse du secteur des semi-conducteurs. L&rsquo;indice de référence, le PHLX Semiconductor Index (SOX), a enregistré mercredi 6 mai une performance historique : sur les 25 derniers jours de bourse, l&rsquo;indice a progressé à un rythme jamais vu depuis le 9 mars 2000, date exacte du sommet de la bulle internet. Ce n&rsquo;est plus seulement Nvidia qui tire la locomotive ; l&rsquo;euphorie s&rsquo;est propagée à l&rsquo;ensemble de l&rsquo;écosystème. Cette « marée montante » soulève l&rsquo;enthousiasme des acheteurs mais ravive les craintes d&rsquo;une déconnexion totale avec les fondamentaux économiques. Sur le plan de l&rsquo;infrastructure, nous observons un changement de paradigme dans les investissements des entreprises. <strong>Le Wall Street Journal souligne que la demande pour les puces spécialisées dans l&rsquo;IA dépasse désormais les capacités de production de TSMC (fabricant du secteur) pour les deux prochaines années.</strong> Les entreprises ne se contentent plus d&rsquo;acheter du logiciel ; elles sécurisent physiquement leur accès à la puissance de calcul. Et donc cette rareté organisée crée un phénomène de stockage préventif, gonflant <strong>artificiellement les carnets de commandes et</strong> donnant l&rsquo;illusion d&rsquo;une croissance infinie, ce qui rappelle pour ceux qui l’ont connu la surcapacité qui avait précédé le krach des « dot-com » dans les années 2000. Et c’est un peu technique mais ce qui se passe sur le marché un « short squeeze », quand les vendeurs de titres sont obligés de racheter leurs titres en catastrophe pour limiter leurs pertes, propulse mécaniquement les cours encore plus haut. Pour rappel la qualité d’une révolution technologique ne protège jamais contre les erreurs de prix. En 2000, Cisco était une entreprise formidable, mais son action a mis 20 ans à retrouver son niveau d’alors.</em></p>
<p><strong>Un évènement dans le secteur du luxe, LVMH pourrait vendre certains actifs.</strong></p>
<p><em>Et ce titre du FT est assez puissant  « LVMH passe du statut d&rsquo;acheteur à celui de vendeur alors que l&rsquo;hiver du luxe se prolonge. Le groupe de Bernard Arnault, bâti sur des acquisitions successives, semble vouloir changer de braquet alors que le marché chinois atterrit. Après 40 ans d’histoire faite de croissance de ses marques historiques mais aussi de nombreuses acquisitions. Le groupe envisagerait la vente de maisons de mode, de marques de beauté et de marques de boissons alcoolisées, dans le cadre de l&rsquo;une des restructurations les plus importantes, alors que le leader du secteur du luxe réduit la voilure face à une période de baisse de la demande. <strong>Le FT</strong> qui cite des sources proches du dossier évoque notamment la marque de mode Marc Jacobs, sa participation dans la marque Fenty Beauty (de la chanteuse Rihanna) ou le producteur de vin américain Joseph Phelps Vineyards. Une opération qui pourrait rapport à LVMH des milliards d’euros. LVMH détient plus de 75 marques allant de la haute couture au cognac passant par l’hôtellerie ou la presse. Doit-on parler d’un recentrage sur les principaux moteurs de profits que sont Louis Vuitton et Dior, dont les ventes ont ralenti depuis 2023, un analyste cité par le FT indique : « LVMH examine clairement son portefeuille pour identifier les éléments non performants et ceux qui pèsent sur ses marges, car l&rsquo;entreprise traverse une période de fortes pressions sur ses activités. » LVMH a refusé de commenter. </em></p>
<p class="bawpvc-ajax-counter" data-id="132436">
<p>L’article <a href="https://www.labourseetlavie.com/economie-et-pedagogie/linfo-eco-presentee-par-didier-testot-sur-sud-radio/pour-les-dettes-publiques-cest-toujours-plus">Pour les dettes publiques c&rsquo;est toujours plus : L&#039;info éco + sur Sud Radio avec Didier Testot LA BOURSE ET LA VIE TV (10mai 2026)</a> est apparu en premier sur <a href="https://www.labourseetlavie.com">La Bourse et la Vie TV L&#039;info éco à valeur ajoutée</a>.</p>
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		<item>
		<title>Patrick Werner Président du Directoire Groupe Preatoni : « Nous aurons une progression du chiffre d&#8217;affaires sur les trois ans qui viennent «  : PREATONI Group s’introduit sur Euronext</title>
		<link>https://www.labourseetlavie.com/strategie-et-resultats/patrick-werner-president-du-directoire-groupe-preatoni-nous-aurons-une-progression-du-chiffre-daffaires-sur-les-trois-ans-qui-viennent</link>
		
		<dc:creator><![CDATA[Didier Testot]]></dc:creator>
		<pubDate>Wed, 13 May 2026 09:10:56 +0000</pubDate>
				<category><![CDATA[STRATEGIE ET RÉSULTATS]]></category>
		<category><![CDATA[ egypte]]></category>
		<category><![CDATA[ résidentiel]]></category>
		<category><![CDATA[ tertiaire]]></category>
		<category><![CDATA[ Tourisme]]></category>
		<category><![CDATA[bourse]]></category>
		<category><![CDATA[Euronext]]></category>
		<category><![CDATA[immobilier]]></category>
		<category><![CDATA[introduction en Bourse]]></category>
		<category><![CDATA[Italie]]></category>
		<category><![CDATA[Patrick Werner Président du Directoire Groupe Preatoni]]></category>
		<category><![CDATA[resorts]]></category>
		<guid isPermaLink="false">https://www.labourseetlavie.com/?p=132431</guid>

					<description><![CDATA[<p>PREATONI Group s’introduit sur Euronext Growth. Avec une capitalisation boursière de 396 millions d’euros. Retour sur les dernières actualités de l&#8217;entreprise spécialisée dans les resorts touristiques et le développement immobilier résidentiel et tertiaire avec Patrick Werner Président du Directoire Groupe Preatoni. Dans le contexte géopolitique perturbé, comment le groupe réagit-il ? &#160; À propos de [&#8230;]</p>
<p>L’article <a href="https://www.labourseetlavie.com/strategie-et-resultats/patrick-werner-president-du-directoire-groupe-preatoni-nous-aurons-une-progression-du-chiffre-daffaires-sur-les-trois-ans-qui-viennent">Patrick Werner Président du Directoire Groupe Preatoni : « Nous aurons une progression du chiffre d&rsquo;affaires sur les trois ans qui viennent «  : PREATONI Group s’introduit sur Euronext</a> est apparu en premier sur <a href="https://www.labourseetlavie.com">La Bourse et la Vie TV L&#039;info éco à valeur ajoutée</a>.</p>
]]></description>
										<content:encoded><![CDATA[<h1>PREATONI Group s’introduit sur Euronext Growth.</h1>
<p>Avec une capitalisation boursière de 396 millions d’euros.</p>
<p>Retour sur les dernières actualités de l&rsquo;entreprise spécialisée dans les resorts touristiques et le développement immobilier résidentiel et tertiaire avec <strong>Patrick Werner</strong> Président du Directoire <a href="https://www.labourseetlavie.com/tag/patrick-werner-president-du-directoire-groupe-preatoni"><strong>Groupe Preatoni.</strong></a></p>
<p>Dans le contexte géopolitique perturbé, comment le groupe réagit-il ?</p>
<p>&nbsp;</p>
<p><strong>À propos de PREATONI Group</strong></p>
<p><em>Créé et développé par Ernesto Preatoni, PREATONI Group est un groupe international spécialisé dans la détention et l’exploitation de resorts touristiques, principalement en Egypte et en Italie, et dans le développement immobilier résidentiel et tertiaire dans la zone EMEA (Pays Baltes, Dubaï). Inspiré par l’esprit pionnier de son fondateur, Ernesto Preatoni, <strong>PREATONI Group</strong>, est un groupe immobilier coté unique intégrant un modèle original de développement et fortement créateur de valeur. Le Groupe compte plus de 1 500 collaborateurs dans le monde. PREATONI Group, dont le siège social est situé en France, est une société cotée sur Euronext Access+ (code ISIN : FR001400WXE7).</em></p>
<p class="bawpvc-ajax-counter" data-id="132431">
<p>L’article <a href="https://www.labourseetlavie.com/strategie-et-resultats/patrick-werner-president-du-directoire-groupe-preatoni-nous-aurons-une-progression-du-chiffre-daffaires-sur-les-trois-ans-qui-viennent">Patrick Werner Président du Directoire Groupe Preatoni : « Nous aurons une progression du chiffre d&rsquo;affaires sur les trois ans qui viennent «  : PREATONI Group s’introduit sur Euronext</a> est apparu en premier sur <a href="https://www.labourseetlavie.com">La Bourse et la Vie TV L&#039;info éco à valeur ajoutée</a>.</p>
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		<item>
		<title>IHS Holding Limited Reports First Quarter 2026 Financial Results</title>
		<link>https://www.labourseetlavie.com/actualites-economiques-et-financieres-actualites/ihs-holding-limited-reports-first-quarter-2026-financial-results</link>
		
		<dc:creator><![CDATA[Didier Testot]]></dc:creator>
		<pubDate>Tue, 12 May 2026 14:03:15 +0000</pubDate>
				<category><![CDATA[ACTUALITÉS ÉCONOMIQUES ET FINANCIÈRES]]></category>
		<guid isPermaLink="false">https://www.labourseetlavie.com/actualites-economiques-et-financieres-actualites/ihs-holding-limited-reports-first-quarter-2026-financial-results</guid>

					<description><![CDATA[<p>Solid Start to 2026 With Continued Revenue Growth and ALFCF Generation LONDON&#8211;&#8211;IHS Holding Limited  , one of the largest independent owners, operators, and developers of shared communications infrastructure in the world by tower count, today reported financial results for the first quarter ended March 31, 2026. CONSOLIDATED HIGHLIGHTS [&#8230;]</p>
<p>L’article <a href="https://www.labourseetlavie.com/actualites-economiques-et-financieres-actualites/ihs-holding-limited-reports-first-quarter-2026-financial-results">IHS Holding Limited Reports First Quarter 2026 Financial Results</a> est apparu en premier sur <a href="https://www.labourseetlavie.com">La Bourse et la Vie TV L&#039;info éco à valeur ajoutée</a>.</p>
]]></description>
										<content:encoded><![CDATA[<div>
<p class="bwalignc">
<i><b>Solid Start to 2026 With Continued Revenue Growth and ALFCF Generation</b></i></p>
<p>LONDON&#8211;(BUSINESS WIRE)&#8211;IHS Holding Limited (NYSE: IHS) (“IHS Towers” or the “Company”), one of the largest independent owners, operators, and developers of shared communications infrastructure in the world by tower count, today reported financial results for the first quarter ended March 31, 2026.</p>
<p>
<b>CONSOLIDATED HIGHLIGHTS – FIRST QUARTER 2026</b></p>
<p>
The table below sets forth the select financial results for the three months ended March 31, 2026, and 2025:</p>
<table cellspacing="0" class="bwtablemarginb bwblockalignl bwwidth100">
<tr>
<td class="bwvertalignb bwpadl0 bwwidth36" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0" colspan="3" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>Three months ended</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwalignc bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth20" colspan="1" rowspan="1">
<p class="bwalignc bwcellpmargin">
 </p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth36" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth20" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>March 31,</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth20" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>March 31,</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwalignc bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth20" colspan="1" rowspan="1">
<p class="bwalignc bwcellpmargin">
 </p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth36" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth20" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>2026</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth20" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>2025</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth20" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>Change<sup>(c)</sup></b></p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth36" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwwidth20" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>$’m</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwwidth20" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>$’m</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwwidth20" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>%</b></p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth36" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth20" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth20" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth20" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth36" colspan="1" rowspan="1">
<p class="bwcellpmargin">
Revenue (from continuing operations)<sup>(a)</sup></p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth20" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
415.4</p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth20" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
392.1</p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth20" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
6.0</p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth36" colspan="1" rowspan="1">
<p class="bwcellpmargin">
Revenue from discontinued operations<sup>(a)</sup></p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth20" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
51.8</p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth20" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
47.5</p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth20" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
9.0</p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth36" colspan="1" rowspan="1">
<p class="bwcellpmargin">
Adjusted EBITDA<sup>(b)</sup></p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth20" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
268.7</p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth20" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
252.6</p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth20" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
6.4</p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth36" colspan="1" rowspan="1">
<p class="bwcellpmargin">
Income for the period</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth20" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
77.0</p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth20" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
30.7</p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth20" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
150.8</p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth36" colspan="1" rowspan="1">
<p class="bwcellpmargin">
Cash from operations</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth20" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
244.9</p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth20" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
216.3</p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth20" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
13.2</p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth36" colspan="1" rowspan="1">
<p class="bwcellpmargin">
ALFCF<sup>(b)</sup></p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth20" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
173.5</p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth20" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
149.9</p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth20" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
15.8</p>
</td>
</tr>
</table>
<table cellspacing="0" class="bwtablemarginb bwblockalignl">
<tr>
<td class="bwvertalignt bwpadl0" colspan="1" rowspan="1">(a)</td>
<td class="bwvertalignt bwpadl0" colspan="1" rowspan="1">
<p class="bwcellpmargin">
On February 11 and 17, 2026, the Group announced agreements to sell its 51.0% stake in I-Systems to TIM S.A. and its Latin American tower operations to Macquarie Asset Management, respectively. The Latin American tower operations and I-Systems disposal groups were classified as held for sale from December 31, 2025, which impacts the presentation of the Group balance sheet, and further, since the entire Latam reportable segment comprised these groups, the segment was presented as discontinued operations which impacts the Group income statement presentation including revenue.</p>
</td>
</tr>
<tr>
<td class="bwvertalignt bwpadl0" colspan="1" rowspan="1">(b)</td>
<td class="bwvertalignt bwpadl0" colspan="1" rowspan="1">
<p class="bwcellpmargin">
Adjusted EBITDA and ALFCF are non-IFRS financial measures. See “Use of Non-IFRS financial measures” for additional information, definitions and a reconciliation to the most comparable IFRS measures.</p>
</td>
</tr>
<tr>
<td class="bwvertalignt bwpadl0" colspan="1" rowspan="1">(c)</td>
<td class="bwvertalignt bwpadl0" colspan="1" rowspan="1">
<p class="bwcellpmargin">
In October 2025, the Company completed the Rwanda Disposal. IHS Rwanda contributed $14.5 million and $9.7 million to revenue and Adjusted EBITDA, respectively, in the first quarter of 2025.</p>
</td>
</tr>
</table>
<p>
<i>Financial Highlights</i></p>
<ul class="bwlistdisc">
<li>
Revenue from continuing operations of $415.4 million (which excludes revenue of $51.8 million for the Latam segment presented within discontinued operations) increased 6.0% year-on-year, despite a 3.7% inorganic revenue headwind from the disposal of the Company’s Rwanda operations in October 2025</li>
<li>
Organic revenue declined 1.7% despite Constant Currency<sup>(d)</sup> revenue increasing 3.7%, as growth was offset by reduced revenue related to foreign exchange (“FX”) resets and power indexation. Constant Currency growth was driven by higher revenue from Colocation, Lease Amendments, New Sites and escalators. The organic and inorganic declines were more than offset at the reported level by an 11.4% benefit from favorable FX movements used to translate the results of our operations, including the Nigerian Naira (“NGN” or “Naira”) versus the U.S. dollar (“USD”)</li>
<li>
Adjusted EBITDA increased 6.4% year-on-year to $268.7 million reflecting the increase in revenue. Income for the current period was $77.0 million</li>
<li>
Adjusted Levered Free Cash Flow (“ALFCF”) increased 15.8% to $173.5 million primarily driven by a reduction in interest payments. Cash from operations was $244.9 million</li>
<li>
Capital expenditure (“Total Capex”) of $41.4 million, decreased 5.3% year-on-year, primarily driven by the phasing of discretionary capital expenditure</li>
<li>
Consolidated net leverage ratio<sup>(e)</sup> of 2.9x, down 0.5x year-on-year</li>
</ul>
<p>
<i>Strategic and Operational Highlights</i></p>
<ul class="bwlistdisc">
<li>
Announced the proposed sale of IHS Towers to MTN Group Limited in February 2026 at an enterprise value<sup>(f)</sup> of $6.2 billion</li>
<li>
In February 2026, the Company announced it had agreed to sell its Latin America tower operations to Macquarie Asset Management at an enterprise value<sup>(f)</sup> of approximately $952 million, and its 51.0% stake in I-Systems to TIM S.A. at an enterprise value<sup>(f)</sup> of approximately $453 million; in May 2026, the sale of the Company’s I-Systems stake to TIM S.A. completed</li>
<li>
The Naira appreciated 4.6% versus the U.S. dollar during the quarter, reflecting a more stable FX environment than in prior years. U.S dollar availability remains in line with business requirements</li>
<li>
Towers of 37,641 with Tenants of 54,854 at the end of the first quarter, leading to a Colocation Rate of 1.46x. Lease Amendments increased during the period to 45,298</li>
</ul>
<p>
<b>Sam Darwish, IHS Towers Chairman and Chief Executive Officer, stated,</b> “We delivered a positive start to the year, with solid first‑quarter revenue and free cash flow growth, underpinned by disciplined execution and continued commercial momentum across the business. The proposed sale of IHS Towers to MTN, expected to close in 2026, remains an important strategic milestone, building on our long‑standing partnership and supporting the Group’s next phase of development.”</p>
<table cellspacing="0" class="bwtablemarginb bwblockalignl">
<tr>
<td class="bwvertalignt bwpadl0" colspan="1" rowspan="1">(d)</td>
<td class="bwvertalignt bwpadl0" colspan="1" rowspan="1">
<p class="bwcellpmargin">
“Constant Currency” combines the impact from CPI escalation, New Sites, new Colocation, new Lease Amendments, fiber and other revenues, as captured in organic revenue. Refer to “Item 5. Operating and Financial Review and Prospects” in our Annual Report on Form 20-F for the fiscal year ended December 31, 2025, for the definition of organic revenue and additional information.</p>
</td>
</tr>
<tr>
<td class="bwvertalignt bwpadl0" colspan="1" rowspan="1">(e)</td>
<td class="bwvertalignt bwpadl0" colspan="1" rowspan="1">
<p class="bwcellpmargin">
Consolidated net leverage ratio is a non-IFRS financial measure. See “Use of Non-IFRS financial measures” for additional information, definition and a reconciliation to the most comparable IFRS measure.</p>
</td>
</tr>
<tr>
<td class="bwvertalignt bwpadl0" colspan="1" rowspan="1">(f)</td>
<td class="bwvertalignt bwpadl0" colspan="1" rowspan="1">
<p class="bwcellpmargin">
Enterprise value is defined as anticipated cash consideration to be received plus borrowings less cash in the business and is inclusive of IFRS 16 lease liabilities and stated for a 100% shareholding. Refer to “Item 5. Operating and Financial Review and Prospects” in our Annual Report on Form 20-F for the fiscal year ended December 31, 2025, for further information on these transactions.</p>
</td>
</tr>
</table>
<p>
<b>RESULTS OF OPERATIONS</b></p>
<p>
<i><span class="bwuline">Impact of Naira foreign exchange movements</span></i></p>
<p>
In 2026, the Naira exchange rate against the U.S. dollar has exhibited reduced volatility compared with 2024, broadly consistent with the trend seen in 2025. The rates used in the preparation of our financial statements are shown below:</p>
<table cellspacing="0" class="bwtablemarginb bwblockalignl bwwidth100">
<tr>
<td class="bwvertalignb bwpadl0 bwwidth40" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>Closing Rate</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>Closing Rate Movement<sup>(a)</sup></b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>3-Month Average Rate</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>Average Rate Movement<sup>(a)</sup></b></p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth40" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>₦:$</b></p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>$:₦</b></p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>₦:$</b></p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>$:₦</b></p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth40" colspan="1" rowspan="1">
<p class="bwcellpmargin">
December 31, 2023</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
911.7</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
––</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
815.0</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
––</p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth40" colspan="1" rowspan="1">
<p class="bwcellpmargin">
March 31, 2024</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
1,393.5</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
(34.6)%</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
1,315.9</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
(38.1)%</p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth40" colspan="1" rowspan="1">
<p class="bwcellpmargin">
June 30, 2024</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
1,514.3</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
(8.0)%</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
1,391.8</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
(5.4)%</p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth40" colspan="1" rowspan="1">
<p class="bwcellpmargin">
September 30, 2024</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
1,669.1</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
(9.3)%</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
1,601.0</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
(13.1)%</p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth40" colspan="1" rowspan="1">
<p class="bwcellpmargin">
December 31, 2024</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
1,546.0</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
8.0%</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
1,628.5</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
(1.7)%</p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth40" colspan="1" rowspan="1">
<p class="bwcellpmargin">
March 31, 2025</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
1,538.1</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
0.5%</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
1,526.7</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
6.7%</p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth40" colspan="1" rowspan="1">
<p class="bwcellpmargin">
June 30, 2025</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
1,543.0</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
(0.3)%</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
1,580.8</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
(3.4)%</p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth40" colspan="1" rowspan="1">
<p class="bwcellpmargin">
September 30, 2025</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
1,486.5</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
3.7%</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
1,523.2</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
3.6%</p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth40" colspan="1" rowspan="1">
<p class="bwcellpmargin">
December 31, 2025</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
1,448.3</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
2.6%</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
1,453.3</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
4.8%</p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth40" colspan="1" rowspan="1">
<p class="bwcellpmargin">
March 31, 2026</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
1,384.5</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
4.6%</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
1,385.0</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth15" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
4.9%</p>
</td>
</tr>
</table>
<table cellspacing="0" class="bwtablemarginb bwblockalignl">
<tr>
<td class="bwvertalignt bwpadl0" colspan="1" rowspan="1">(a)</td>
<td class="bwvertalignt bwpadl0" colspan="1" rowspan="1">
<p class="bwcellpmargin">
Movements presented for each period are between that period’s rate and the preceding period rate and are calculated as a percentage of the period’s rate.</p>
</td>
</tr>
</table>
<p>
Compared to the same period in 2025, changes in the Naira exchange rate used to translate the results of our Nigeria operations positively impacted revenue and segment Adjusted EBITDA in the first quarter of 2026 by $26.7 million and $16.9 million, respectively. These impacts were partially offset by foreign exchange resets in some of our contracts. Movements in the Naira exchange rate in the first quarter of 2026 resulted in unrealized foreign exchange gains of $80.3 million on U.S. dollar denominated intercompany loans advanced to our Nigerian operations. These unrealized foreign exchange impacts are recognized in finance income or finance costs accordingly; however, Group net assets are not impacted, as equal and opposite movements are recorded in equity on the retranslation of the Nigerian operations’ assets and liabilities (which include these loans).</p>
<p>
<i><b>Results for the three months ended March 31, 2026, versus 2025</b></i></p>
<p>
On February 11 and 17, 2026, the Group announced agreements to sell its 51.0% stake in I-Systems to TIM S.A. and its Latin American tower operations to Macquarie Asset Management, respectively. The Latin American tower operations and I-Systems disposal groups were classified as held for sale from December 31, 2025. These disposal groups comprised the entire Latam reportable segment and therefore this segment was presented as a discontinued operation. Accordingly, the description of revenue from continuing operations is now presented separately from the description of revenue from discontinued operations and Adjusted EBITDA Margin is only presented for individual segments. Other key performance indicators, including Adjusted EBITDA and ALFCF, continue to reflect the performance inclusive of the Latin America segment as the associated IFRS measures of earnings and cash from operations continue to include results from discontinued operations. In May 2026, the Group completed the disposal of its 51.0% stake in I-Systems to TIM S.A.</p>
<p>
<i><span class="bwuline">Revenue from continuing operations</span></i></p>
<p>
Revenue from continuing operations for the three month period ended March 31, 2026, (“first quarter”) was $415.4 million, an increase of 6.0% year-on-year, despite a 3.7% inorganic revenue headwind from the disposal of the Company’s Rwanda operations in October 2025. Organic revenue<sup>(a)</sup> decreased by $6.8 million (1.7%) driven by a reduction in revenues related to foreign exchange resets and power indexation, largely as a result of the appreciation of the Naira versus the U.S. dollar. This more than offset the continued growth in revenues from Tenants, Lease Amendments and New Sites, in addition to the benefit of escalations, and came despite the impact of Churn related to the approximately 1,050 sites MTN Nigeria agreed to vacate as part of the contract renewals and extensions signed during the third quarter of 2024. Inorganic revenue<sup>(a)</sup> decreased by $14.5 million, which related to the disposal of operations in Rwanda in October 2025. The decrease in organic revenue was more than offset by the non-core<sup>(a)</sup> impact of favorable movements in foreign exchange rates used to translate the results of foreign operations of $44.7 million, or 11.4%, of which $26.7 million was due to the appreciation of the Naira.</p>
<p>
Refer to the revenue component of the segment results section of this discussion and analysis for further details.</p>
<p>
<i><span class="bwuline">Revenue from discontinued operations</span></i></p>
<p>
Revenue from the Latin America segment for the three month period ended March 31, 2026, presented within discontinued operations, was $51.8 million, an increase of 9.0% year-on-year.</p>
<p>
<i><span class="bwuline">Towers, tenants and lease amendments</span></i></p>
<p>
For the first quarter, there was a year-on-year net decrease in Towers of 1,571 (a net decrease of 104 year-on-year excluding the impact of the Rwanda disposal), resulting in total Towers of 37,641 at the end of the period. The decrease primarily resulted from the divestiture of 1,467 Towers in Rwanda in October 2025. The addition of 594 New Sites year-on-year, was more than offset by 677 Churned and 21 decommissioned sites. Tenants declined 4,752 year-on-year (including the divestiture of 3,041 from Rwanda, and a reduction of 4,132 from Churn). The Churn was inclusive of 2,576 tenants in the third quarter of 2025, which reflected an updated agreement with our smallest Key Customer in Nigeria, T2 (previously known as 9mobile), signed in that quarter. It was agreed that T2 would vacate our sites in exchange for a contractual commitment to settle portions of its historic overdue balances through July 2027. As a result, total Tenants were 54,854 at the end of the first quarter, with a Colocation Rate of 1.46x, in line with the fourth quarter of 2025. Excluding the impact of these two items, we added 865 net new tenants year-on-year. Year-on-year, we added 5,593 Lease Amendments, driven by continued incremental demand for ancillary services, resulting in total Lease Amendments of 45,298 at the end of the first quarter.</p>
<table cellspacing="0" class="bwtablemarginb bwblockalignl">
<tr>
<td class="bwvertalignt bwpadl0" colspan="1" rowspan="1">(a)</td>
<td class="bwvertalignt bwpadl0" colspan="1" rowspan="1">
<p class="bwcellpmargin">
Refer to “Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations” for the definition of organic revenue, inorganic revenue and non-core and additional information in our unaudited condensed consolidated interim financial statements for the three months ended March 31, 2026 (filed on form 6-K with the Securities and Exchange Commission on May 12, 2026).</p>
</td>
</tr>
</table>
<p>
<i><span class="bwuline">Adjusted EBITDA</span></i></p>
<p>
Adjusted EBITDA for the first quarter of $268.7 million increased 6.4% year-on-year reflecting the increase in revenue described above. Cost of sales included within Adjusted EBITDA increased $7.3 million year-on-year, primarily driven by increases in tower repairs and maintenance costs ($2.1 million), staff costs ($1.6 million), power generation costs ($1.3 million), site rental costs ($0.9 million) and regulatory fees ($0.4 million). The $4.2 million increase in administrative expenses included within Adjusted EBITDA was primarily driven by other administrative expenses.</p>
<p>
<i><span class="bwuline">Income for the period</span></i></p>
<p>
Income for the first quarter of 2026 was $77.0 million, compared to $30.7 million in the first quarter of 2025. The increase was primarily driven by a $80.7 million favorable movement in net finance income/(costs), mainly reflecting the impact of changes in the Naira exchange rate in the respective periods on U.S. dollar-denominated intercompany loans advanced to our Nigerian operations. In the first quarter of 2026, the Naira appreciated with an average exchange rate of ₦1,385 to the U.S dollar. Revenue also increased by $23.3 million.</p>
<p>
These increases were partially offset by an increase in administrative expenses of $68.0 million, and an increase in cost of sales of $9.8 million. Administrative expenses in the quarter included accelerated expenses of $33.1 million related to share-based payment and long-term employee benefit expenses as a result of a change in expected vesting periods and settlement obligations following the February 2026 announcement by the Group that it had entered into a merger agreement to be acquired by MTN Group Limited. Administrative expenses also reflected a $17.9 million unfavorable movement in the net impairment of withholding tax receivables and a $8.3 million increase in business combination costs mainly due to costs associated with the merger transaction.</p>
<p>
<i><span class="bwuline">Cash from operations</span></i></p>
<p>
Cash from operations for the first quarter of 2026 was $244.9 million, compared to $216.3 million for the first quarter of 2025. The increase primarily reflected a $19.3 million reduction in working capital outflows in addition to an increase in operating income before working capital changes of $9.3 million.</p>
<p>
<i><span class="bwuline">ALFCF</span></i></p>
<p>
ALFCF for the first quarter of 2026 was $173.5 million, compared to $149.9 million for the first quarter of 2025. The increase in ALFCF was primarily due to a decrease of $26.4 million in net interest paid mainly due to the impact of the repayment and refinancing of high interest debt, partially offset by an increase in lease and rent payments of $7.9 million.</p>
<p>
<b><i>SEGMENT RESULTS</i></b></p>
<p>
<i><span class="bwuline">Revenue and Adjusted EBITDA by segment</span></i></p>
<p>
Set out below are revenue and segment Adjusted EBITDA for each of our reportable segments, for the three months ended March 31, 2026, and 2025:</p>
<table cellspacing="0" class="bwtablemarginb bwblockalignl bwwidth100">
<tr>
<td class="bwvertalignb bwpadl0 bwwidth28" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0" colspan="5" rowspan="1">
<p class="bwalignc bwcellpmargin">
<b>Revenue</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0" colspan="7" rowspan="1">
<p class="bwalignc bwcellpmargin">
<b>Adjusted EBITDA</b></p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth28" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0" colspan="5" rowspan="1">
<p class="bwalignc bwcellpmargin">
<b>Three months ended March 31,</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0" colspan="7" rowspan="1">
<p class="bwalignc bwcellpmargin">
<b>Three months ended March 31,</b></p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth28" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>2026</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>2025</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>Change</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>2026</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth1" colspan="1" rowspan="1">
<p class="bwcellpmargin bwalignl">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>2025</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth1" colspan="1" rowspan="1">
<p class="bwcellpmargin bwalignl">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>Change</b></p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth28" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>$’m</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>$’m</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>%</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0" colspan="2" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>$’m</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0" colspan="2" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>$’m</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>%</b></p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth28" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth10" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth10" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth10" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0" colspan="2" rowspan="1">
<p class="bwalignc bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0" colspan="2" rowspan="1">
<p class="bwalignc bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignc bwcellpmargin">
 </p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth28" colspan="1" rowspan="1">
<p class="bwcellpmargin">
Nigeria</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
285.0</p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
271.4</p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
5.0</p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
182.6</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth1" colspan="1" rowspan="1">
<p class="bwcellpmargin bwalignl">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
179.2</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth1" colspan="1" rowspan="1">
<p class="bwcellpmargin bwalignl">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
2.0</p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth28" colspan="1" rowspan="1">
<p class="bwcellpmargin">
SSA</p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
130.4</p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
120.7</p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
8.1</p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
77.6</p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth1" colspan="1" rowspan="1">
<p class="bwcellpmargin bwalignl">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
71.7</p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth1" colspan="1" rowspan="1">
<p class="bwcellpmargin bwalignl">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
8.3</p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth28" colspan="1" rowspan="1">
<p class="bwcellpmargin">
<b>Continuing operations</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>415.4</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>392.1</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>260.2</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth1" colspan="1" rowspan="1">
<p class="bwcellpmargin bwalignl">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>250.9</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth1" colspan="1" rowspan="1">
<p class="bwcellpmargin bwalignl">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth28" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0" colspan="2" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0" colspan="2" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth28" colspan="1" rowspan="1">
<p class="bwcellpmargin">
Latam</p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
51.8</p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
47.5</p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
9.0</p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
37.6</p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth1" colspan="1" rowspan="1">
<p class="bwcellpmargin bwalignl">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
35.6</p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth1" colspan="1" rowspan="1">
<p class="bwcellpmargin bwalignl">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
5.6</p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth28" colspan="1" rowspan="1">
<p class="bwcellpmargin">
<b>Discontinued operations</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>51.8</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>47.5</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>37.6</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth1" colspan="1" rowspan="1">
<p class="bwcellpmargin bwalignl">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>35.6</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth1" colspan="1" rowspan="1">
<p class="bwcellpmargin bwalignl">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth28" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0" colspan="2" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0" colspan="2" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth28" colspan="1" rowspan="1">
<p class="bwcellpmargin">
Unallocated corporate expenses<sup>(a)</sup></p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
—</p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
—</p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
—</p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
(29.1</p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth1" colspan="1" rowspan="1">
<p class="bwcellpmargin bwalignl">
)</p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
(33.9</p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth1" colspan="1" rowspan="1">
<p class="bwcellpmargin bwalignl">
)</p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
14.1</p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth28" colspan="1" rowspan="1">
<p class="bwcellpmargin">
<b>Total</b></p>
</td>
<td class="bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>467.2</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>439.6</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>6.3</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>268.7</b></p>
</td>
<td class="bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth1" colspan="1" rowspan="1">
<p class="bwcellpmargin bwalignl">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>252.6</b></p>
</td>
<td class="bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth1" colspan="1" rowspan="1">
<p class="bwcellpmargin bwalignl">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>6.4</b></p>
</td>
</tr>
</table>
<table cellspacing="0" class="bwtablemarginb bwblockalignl">
<tr>
<td class="bwvertalignt bwpadl0" colspan="1" rowspan="1">(a)</td>
<td class="bwvertalignt bwpadl0" colspan="1" rowspan="1">
<p class="bwcellpmargin">
Unallocated corporate expenses primarily consist of costs associated with centralized Group functions including Group executive, finance, HR, IT, legal, tax and treasury services.</p>
</td>
</tr>
</table>
<p>
<i><span class="bwuline">Nigeria</span></i></p>
<p>
First quarter revenue increased 5.0% year-on-year to $285.0 million. Organic revenue decreased by $13.1 million, a decrease of 4.8% year-on-year, driven largely by a reduction in revenues linked to foreign exchange resets and diesel prices as a result of the appreciation of the Naira versus the U.S dollar during the period, which more than offset the growth primarily driven by escalations and Lease Amendments. Continued growth in revenue from Colocation, Lease Amendments and New Sites was partially offset by Churn related to the approximately 1,050 sites MTN Nigeria agreed to vacate as part of the contract renewals and extensions signed during the third quarter of 2024. The decrease in organic revenue was more than offset by favorable movements in foreign exchange rates used to translate the results of foreign operations, with an average Naira rate of ₦1,385 to $1.00 in the first quarter of 2026 compared to an average rate of ₦1,527 to $1.00 in the first quarter of 2025. This led to a non-core increase of $26.7 million, or 9.8% year-on-year.</p>
<p>
Tenants decreased by 2,491 year-on-year, with growth of 819 from Colocation and 42 from New Sites, more than offset by 3,352 Churn, which was inclusive of 2,576 tenants in the third quarter of 2025 which reflected an updated agreement with our smallest Key Customer, T2. It was agreed that T2 would vacate our sites in exchange for a contractual commitment to settle portions of its historic overdue balances through July 2027. Lease Amendments increased by 4,240 driven by continued incremental demand for ancillary services.</p>
<p>
Segment Adjusted EBITDA for the first quarter increased 2.0% year-on-year to $182.6 million, resulting in an Adjusted EBITDA Margin of 64.1%. The year-on-year increase in segment Adjusted EBITDA for the first quarter primarily reflected the increase in revenue described above, partly offset by an increase in cost of sales and administrative expenses included within segment Adjusted EBITDA. During the first quarter the increase in costs was primarily driven by a year-on-year increase in staff costs ($4.4 million), other administrative costs ($2.3 million) and tower repairs and maintenance costs ($1.4 million), with increases enhanced by the appreciation of the Naira, which is used to translate the results of our Nigeria operations.</p>
<p>
<i><span class="bwuline">SSA</span></i></p>
<p>
First quarter revenue increased 8.1% year-on-year to $130.4 million, despite a 12.0% inorganic revenue headwind related to the disposal of operations in Rwanda in October 2025. Organic revenue, which increased by $6.3 million, or 5.2%, led by growth in revenue from new Tenants, Colocations, New Sites and escalations, partially offset by lower revenues from foreign exchange resets. The overall increase in revenue was also driven by an increase in non-core revenues as a result of positive movements in foreign exchange rates of $18.0 million, or 14.9%.</p>
<p>
Tenants decreased by 3,003 year-on-year, primarily due to the disposal of 3,041 tenants in Rwanda. Other than this disposal, tenants increased by 38 driven by increases of 465 from Colocation and 190 from New Sites, partially offset by a reduction of 617 tenants from Churn primarily related to ZedMobile (“ZedMobile”), while Lease Amendments increased by 517.</p>
<p>
Segment Adjusted EBITDA for the first quarter increased 8.3% year-on-year to $77.6 million, resulting in an Adjusted EBITDA Margin of 59.5%. The year-on-year increase in segment Adjusted EBITDA for the first quarter primarily reflected the increase in revenue described above, partially offset by a $2.3 million increase in costs included within Adjusted EBITDA. The increase in costs was primarily driven by increases in other administrative expenses ($3.1 million) largely reflecting a provision associated with the ZedMobile Churn in Zambia, power generation costs ($1.1 million) and tower repairs and maintenance costs ($0.9 million), partially offset by a reduction in staff costs ($1.3 million).</p>
<p>
<i><span class="bwuline">Latam</span></i></p>
<p>
First quarter revenue increased 9.0% year-on-year to $51.8 million. Organic revenue declined 2.1% in the quarter, or $1.0 million, with the first quarter of 2025 benefiting from the recognition of non-recurring revenue of $3.6 million from our customer Oi S.A. (“Oi Brazil”) relating to a transfer of assets as part of their judicial recovery proceedings, which was partially offset by continued growth in Tenants, Lease Amendments, New Sites and CPI escalations. The decrease in organic growth was more than offset by the non-core impact of favorable movements in foreign exchange rates of $5.2 million, or 11.0%.</p>
<p>
Tenants increased by 742 year-on-year, including 362 from New Sites and 543 from Colocation, while Lease Amendments increased by 836.</p>
<p>
First quarter segment Adjusted EBITDA increased 5.6% to $37.6 million for a segment Adjusted EBITDA Margin of 72.7%, primarily driven by the increase in revenue during the period, partially offset by an increase in costs included within Adjusted EBITDA. The increase in costs was primarily driven by an increase in staff costs ($1.9 million) and site rental costs ($0.9 million).</p>
<p>
On February 11 and 17, 2026, the Group announced agreements to sell its 51.0% stake in I-Systems to TIM S.A. and its Latin American tower operations to Macquarie Asset Management, respectively. The Latin American tower operations and I-Systems disposal groups were classified as held for sale from December 31, 2025. These disposal groups comprised the entire Latam reportable segment and therefore this segment was presented as a discontinued operation. In May 2026 the sale of the Company’s I-Systems stake to TIM S.A. completed.</p>
<p>
<b><i>CAPITAL EXPENDITURE</i></b></p>
<p>
Set out below is the capital expenditure for the three months ended March 31, 2026, and 2025 for each of our reporting segments:</p>
<table cellspacing="0" class="bwtablemarginb bwblockalignl bwwidth100">
<tr>
<td class="bwvertalignb bwpadl0 bwwidth65" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0" colspan="3" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>Three months ended</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwalignc bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0" colspan="2" rowspan="1">
<p class="bwalignc bwcellpmargin">
 </p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth65" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>March 31,</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>March 31,</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwalignc bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0" colspan="2" rowspan="1">
<p class="bwalignc bwcellpmargin">
 </p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth65" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>2026</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>2025</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0" colspan="2" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>Change</b></p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth65" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>$’m</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>$’m</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0" colspan="2" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>%</b></p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth65" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0" colspan="2" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
</tr>
<tr>
<td class="bwvertalignt bwpadl0 bwwidth65" colspan="1" rowspan="1">
<p class="bwcellpmargin">
Nigeria</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
16.4</p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
11.2</p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
45.4</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth1" colspan="1" rowspan="1">
<p class="bwcellpmargin bwalignl">
 </p>
</td>
</tr>
<tr>
<td class="bwvertalignt bwpadl0 bwwidth65" colspan="1" rowspan="1">
<p class="bwcellpmargin">
SSA</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
3.2</p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
8.2</p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
(61.3</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth1" colspan="1" rowspan="1">
<p class="bwcellpmargin bwalignl">
)</p>
</td>
</tr>
<tr>
<td class="bwvertalignt bwpadl0 bwwidth65" colspan="1" rowspan="1">
<p class="bwcellpmargin">
Other</p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
—</p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
0.4</p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
(100.0</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth1" colspan="1" rowspan="1">
<p class="bwcellpmargin bwalignl">
)</p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth65" colspan="1" rowspan="1">
<p class="bwcellpmargin">
<b>Continuing operations</b></p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>19.6</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>19.8</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0" colspan="2" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
</tr>
<tr>
<td class="bwvertalignt bwpadl0 bwwidth65" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0" colspan="2" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
</tr>
<tr>
<td class="bwvertalignt bwpadl0 bwwidth65" colspan="1" rowspan="1">
<p class="bwcellpmargin">
Latam</p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
21.8</p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
23.8</p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
(8.2</p>
</td>
<td class="bwvertalignb bwpadl0 bwpadr0 bwwidth1" colspan="1" rowspan="1">
<p class="bwcellpmargin bwalignl">
)</p>
</td>
</tr>
<tr>
<td class="bwvertalignb bwpadl0 bwwidth65" colspan="1" rowspan="1">
<p class="bwcellpmargin">
<b>Discontinued operations</b></p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>21.8</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>23.8</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0" colspan="2" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
</tr>
<tr>
<td class="bwvertalignt bwpadl0 bwwidth65" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwsinglebottom bwpadl0" colspan="2" rowspan="1">
<p class="bwalignr bwcellpmargin">
 </p>
</td>
</tr>
<tr>
<td class="bwvertalignt bwpadl0 bwwidth65" colspan="1" rowspan="1">
<p class="bwcellpmargin">
<b>Total capital expenditure</b></p>
</td>
<td class="bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>41.4</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>43.6</b></p>
</td>
<td class="bwvertalignb bwpadl0 bwwidth2" colspan="1" rowspan="1">
<p class="bwcellpmargin">
 </p>
</td>
<td class="bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth10" colspan="1" rowspan="1">
<p class="bwalignr bwcellpmargin">
<b>(5.3</b></p>
</td>
<td class="bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth1" colspan="1" rowspan="1">
<p class="bwcellpmargin bwalignl">
<b>)</b></p>
</td>
</tr>
</table>
<p>
During the first quarter of 2026, capital expenditure (“Total Capex”) was $41.4 million, compared to $43.6 million for the first quarter of 2025. The decrease was primarily driven by lower capital expenditure in our SSA and Latam segments, mainly due to lower discretionary capital expenditure and lower fiber capital expenditure, respectively. These decreases were partially offset by higher capital expenditure in our Nigeria segment, reflecting the phasing of maintenance capital expenditure, fiber capital expenditure and augmentation capital expenditure, in addition to movements in foreign exchange rates.</p>
<p>
<i><span class="bwuline">Nigeria</span></i></p>
<p>
The 45.4% year-on-year increase for the first quarter was primarily driven by increases related to maintenance capital expenditure ($2.4 million), fiber capital expenditure ($1.7 million) and augmentation capital expenditure ($0.8 million).</p>
<p>
<i><span class="bwuline">SSA</span></i></p>
<p>
The 61.3% year-on-year decrease for the first quarter was primarily driven by decreases in other capital expenditure ($2.3 million), augmentation capital expenditure ($1.7 million) and maintenance capital expenditure ($1.1 million).</p>
<p>
<i><span class="bwuline">Latam</span></i></p>
<p>
The 8.2% year-on-year decrease for the first quarter was primarily driven by decreases related to the fiber business ($2.9 million), New Sites ($1.8 million) and maintenance capital expenditure ($0.2 million), partially offset by an increase related to augmentation capital expenditure ($2.9 million).</p>
<p>
<b><i>FINANCING ACTIVITIES FOR PERIOD JANUARY 1, 2026, TO MARCH 31, 2026</i></b></p>
<p>
Approximate U.S. dollar equivalent values for non-USD denominated facilities stated below are translated from the currency of the debt at the relevant exchange rates on March 31, 2026.</p>
<p>
<b><i>Nigeria (2026) Revolving Credit Facility</i></b></p>
<p>
IHS Mauritius NG Holdco Limited, IHS (Nigeria) Limited, IHS Towers NG Limited, INT Towers Limited and IHS Holding Limited entered into an NGN100.0 billion (approximately $72.2 million) Naira-denominated revolving credit facility agreement in January 2026 (with the potential to upsize to NGN200.</p>
<p> <b>Contacts</b> </p>
<p>
<b>Enquiry:</b> Investor<br />
<br /><b>Contact Info:</b><br />IHS Towers<br />
<br />1 Cathedral Piazza<br />
<br />123 Victoria Street<br />
<br />London, SW1E 5BP<br />
<br />United Kingdom<br />
<br /><a target="_blank" href="mailto:investorrelations@ihstowers.com" rel="nofollow" shape="rect"><b>investorrelations@ihstowers.com</b></a></p>
<p>
<b>Enquiry:</b> Journalist<br />
<br /><b>Contact Info:</b><br />Teneo<br />
<br />The Carter Building<br />
<br />11 Pilgram Street<br />
<br />London, EC4V 6RN<br />
<br />United Kingdom<br />
<br /><a target="_blank" href="mailto:ihstowers@teneo.com" rel="nofollow" shape="rect"><b>ihstowers@teneo.com</b></a></p>
<p>
<b>Enquiry:</b> Other<br />
<br /><b>Contact Info:</b><br />IHS Towers<br />
<br />1 Cathedral Piazza<br />
<br />123 Victoria Street<br />
<br />London, SW1E 5BP<br />
<br />United Kingdom<br />
<br />+442081061600<br />
<br /><a target="_blank" href="mailto:communications@ihstowers.com" rel="nofollow" shape="rect"><b>communications@ihstowers.com</b></a></p>
<p> <a href="http://www.businesswire.com/news/home/20260512285585/en/IHS-Holding-Limited-Reports-First-Quarter-2026-Financial-Results/?feedref=Zd8jjkgYuzBwDixoAdXmJgT1albrG1Eq4mAeVP392128fegBrOpWsxvQZE5Mzs0bevRMp3sIgu8q3wq1OF24lT93qbEzrwa15HGbLqMObxbIlmRph9JpOvFBj4N-Styf_MB0k7bSxuNDrJ9ITS1Yyw=="> Read full story here </a></div>
<p class="bawpvc-ajax-counter" data-id="132425">
<p>L’article <a href="https://www.labourseetlavie.com/actualites-economiques-et-financieres-actualites/ihs-holding-limited-reports-first-quarter-2026-financial-results">IHS Holding Limited Reports First Quarter 2026 Financial Results</a> est apparu en premier sur <a href="https://www.labourseetlavie.com">La Bourse et la Vie TV L&#039;info éco à valeur ajoutée</a>.</p>
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		<title>The Middleby Corporation Announces the Launch of Midera Food Processing</title>
		<link>https://www.labourseetlavie.com/actualites-economiques-et-financieres-actualites/the-middleby-corporation-announces-the-launch-of-midera-food-processing</link>
		
		<dc:creator><![CDATA[Didier Testot]]></dc:creator>
		<pubDate>Mon, 11 May 2026 12:02:40 +0000</pubDate>
				<category><![CDATA[ACTUALITÉS ÉCONOMIQUES ET FINANCIÈRES]]></category>
		<guid isPermaLink="false">https://www.labourseetlavie.com/actualites-economiques-et-financieres-actualites/the-middleby-corporation-announces-the-launch-of-midera-food-processing</guid>

					<description><![CDATA[<p>ELGIN, Ill.&#8211;&#8211;The Middleby Corporation  today announced that its Food Processing business will operate under the name Midera Food Processing, Inc. . The launch reflects the continued advancement of Middleby’s Food Processing platform into a more focused, technology-driven organization delivering total line solutions. With a foundation built over decades and a portfolio of [&#8230;]</p>
<p>L’article <a href="https://www.labourseetlavie.com/actualites-economiques-et-financieres-actualites/the-middleby-corporation-announces-the-launch-of-midera-food-processing">The Middleby Corporation Announces the Launch of Midera Food Processing</a> est apparu en premier sur <a href="https://www.labourseetlavie.com">La Bourse et la Vie TV L&#039;info éco à valeur ajoutée</a>.</p>
]]></description>
										<content:encoded><![CDATA[<div>
<p>ELGIN, Ill.&#8211;(BUSINESS WIRE)&#8211;The Middleby Corporation (Nasdaq: MIDD) today announced that its Food Processing business will operate under the name Midera Food Processing, Inc. (Midera).</p>
<p><a href="https://mms.businesswire.com/media/20260511379142/en/2800795/4/MIDD_Logo.jpg"><img decoding="async" src="https://mms.businesswire.com/media/20260511379142/en/2800795/22/MIDD_Logo.jpg" title="" alt="" /></a><br /><a href="https://mms.businesswire.com/media/20260511379142/en/2800795/4/MIDD_Logo.jpg"><img decoding="async" src="https://mms.businesswire.com/media/20260511379142/en/2800795/21/MIDD_Logo.jpg" title="" alt="" /></a></p>
<p>
The launch reflects the continued advancement of Middleby’s Food Processing platform into a more focused, technology-driven organization delivering total line solutions. With a foundation built over decades and a portfolio of more than 30 global brands, Midera is positioned to accelerate innovation and serve customers with greater clarity and speed.</p>
<p>
“Over decades we built a global reputation as an industry leader delivering exceptional quality and innovative total line solutions as Middleby Food Processing. Today we are proud to start a new chapter as Midera, a name that will continue to reflect the deep commitment of our brands. We are excited about our future as a standalone company and now launching our identity as Midera,” said Mark Salman, Midera’s incoming Chief Executive Officer and current president of the Middleby Food Processing Group. “I, along with my senior team, look forward to thoroughly outlining our growth strategy to deliver shareholder value at our Investor Day on Tuesday.”</p>
<p>
The company’s new brand identity reinforces Midera’s launch as a pure play food processing company. The Midera name’s first syllable evokes the company’s heritage as part of Middleby as it enters a new era as a company entirely devoted to food processing. The Midera emblem draws from triangular elements of Middleby’s original visual identity, refined to convey precision and forward momentum.</p>
<p>
<b>Separation and Expected Nasdaq Listing<br />
<br /></b>The separation of Midera into a standalone public company is expected to be completed on July 6, 2026, subject to customary conditions, including the effectiveness of Midera’s Form 10 registration statement with the U.S. Securities and Exchange Commission (“SEC”), through a distribution of Midera common stock to Middleby stockholders. Each Middleby stockholder will receive one share of Midera common stock on the distribution date for every one share of Middleby common stock held on the record date. Midera intends to apply to list its common stock on The Nasdaq Global Select Market, and following the separation, Midera’s common stock is expected to trade under the ticker symbol “MFP.”</p>
<p>
“I am confident that the Midera senior team has a solid strategy for growth with the highly respected global business we’ve built over the past two decades. Under the name Midera, the positive momentum will continue long after the company separates from Middleby and becomes a standalone business,” said Tim FitzGerald, Chief Executive Officer of The Middleby Corporation. “Midera leadership has exhibited financial strength and discipline while delivering industry-leading advanced solutions to the marketplace. The business is well-positioned for future success.”</p>
<p>
<b>Investor Day<br />
<br /></b>Middleby and Midera will host an Investor Day on May 12, 2026, in New York City, where the management teams will share each company’s long-term strategy and financial framework.</p>
<p>
<b>About Midera Food Processing<br />
<br /></b>Midera Food Processing provides food processing equipment and automation solutions for industrial protein, bakery, and snack producers, delivering total line solutions from preparation and thermal processing through packaging. With a portfolio of 30+ industry-leading brands reaching customers across six continents, Midera helps food processors produce safer, more consistent products while improving efficiency and reducing waste at scale. Headquartered in Rosemont, Illinois, the company employs approximately 2,800 people worldwide. For more information about Midera, please visit <a target="_blank" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.middleby.com%2Ffood-processing%2F&amp;esheet=54533201&amp;newsitemid=20260511379142&amp;lan=en-US&amp;anchor=https%3A%2F%2Fwww.middleby.com%2Ffood-processing%2F&amp;index=1&amp;md5=b7499721f6bc39a13c591c7a6ed457c3" rel="nofollow" shape="rect">https://www.middleby.com/food-processing/</a>.</p>
<p>
<b>About The Middleby Corporation<br />
<br /></b>The Middleby Corporation is a global leader in the foodservice industry. The company develops and manufactures a broad line of solutions used in commercial foodservice and food processing. Middleby showcases its advanced solutions in the Middleby Innovation Kitchens for commercial foodservice and industrial baking and protein Innovation Centers for Food Processing solutions. For more information about Middleby, please visit <a target="_blank" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.middleby.com&amp;esheet=54533201&amp;newsitemid=20260511379142&amp;lan=en-US&amp;anchor=www.middleby.com&amp;index=2&amp;md5=dfb5339a786eec574f635750380c3bf9" rel="nofollow" shape="rect">www.middleby.com</a>.</p>
<p>
<b>Cautionary Statement Regarding Forward-Looking Statements<br />
<br /></b>This press release contains “forward-looking statements” subject to the Private Securities Litigation Reform Act of 1995, including statements regarding The Middleby Corporation’s (“Middleby”) and Midera Food Processing, Inc.’s (“Midera” and taken together with Middleby, the “Company”) expectations with respect to the timing of the spin-off of Midera and the Company’s future performance. The Company cautions investors that such statements are estimates and are highly dependent upon a variety of factors. These forward-looking statements involve known and unknown risks, uncertainties and other factors, which could cause the Company’s actual results, performance or outcomes to differ materially from those expressed or implied in the forward-looking statements. The following are some of the important factors that could cause the Company’s actual results, performance or outcomes to differ materially from those discussed in the forward-looking statements: changing market conditions; volatility in earnings resulting from goodwill impairment losses, which may occur irregularly and in varying amounts; variability in financing costs and interest rates; quarterly variations in operating results; dependence on key customers; risks associated with the Company’s foreign operations, including international exposure, political risks affecting international sales, market acceptance and demand for the Company’s products and the Company’s ability to manage the risk associated with the exposure to foreign currency exchange rate fluctuations; the Company’s ability to protect its trademarks, copyrights and other intellectual property; changing market conditions, including inflation; the impact of competitive products and pricing; the impact of announced management and organizational changes; intense competition in the Company’s business segments including the impact of both new and established global competitors; unfavorable tax law changes and tax authority rulings; cybersecurity attacks and other breaches in security; the continued ability to realize profitable growth through the sourcing and completion of strategic acquisitions; the timely development and market acceptance of the Company’s products; the availability and cost of raw materials; the possibility that the proposed spin-off of Midera will not be consummated within the anticipated time period or at all, including as the result of regulatory, market or other factors, including the possibility that various closing conditions for the spin-off may not be satisfied; the potential disruption to the Company’s business in connection with the proposed spin-off; the potential that the Company does not realize all of the expected benefits of the spin-off; that the spin-off may be more difficult, time consuming or costly than expected; the failure of the spin-off to qualify for the expected tax treatment; potential adverse effects of the announcement of the proposed spin-off of Midera or the results thereof, including on the market price of the Company’s common stock, the ability of the Company to develop and maintain relationships with personnel, customers, suppliers and others with whom it does business or the Company’s business, financial condition, results of operations and financial performance; risks related to diversion of the Company’s management’s attention from its ongoing business operations due to the proposed spin-off of Midera; and other risks detailed in the Company’s SEC filings. All forward-looking statements are expressly qualified in their entirety by these cautionary statements. The forward-looking statements included in this press release are made only as of the date hereof and, except as required by federal securities laws and rules and regulations of the SEC, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.</p>
<p> <b>Contacts</b> </p>
<p>
<b>For The Middleby Corporation:<br />
<br />
</b><br />Investors:<br />
<br />Rebecca Ellin<br />
<br />SVP of Investor Strategy and Corporate Development<br />
<br /><a target="_blank" href="mailto:rellin@middleby.com" rel="nofollow" shape="rect">rellin@middleby.com</a></p>
<p>Media:<br />
<br />Darcy Bretz<br />
<br />VP of Corporate Communications<br />
<br /><a target="_blank" href="mailto:dbretz@middleby.com" rel="nofollow" shape="rect">dbretz@middleby.com</a></p>
<p>Kate Schneiderman<br />
<br />Managing Director, ICR<br />
<br /><a target="_blank" href="mailto:middleby@icrinc.com" rel="nofollow" shape="rect">middleby@icrinc.com</a></p>
</div>
<p class="bawpvc-ajax-counter" data-id="132423">
<p>L’article <a href="https://www.labourseetlavie.com/actualites-economiques-et-financieres-actualites/the-middleby-corporation-announces-the-launch-of-midera-food-processing">The Middleby Corporation Announces the Launch of Midera Food Processing</a> est apparu en premier sur <a href="https://www.labourseetlavie.com">La Bourse et la Vie TV L&#039;info éco à valeur ajoutée</a>.</p>
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		<title>Stéphane Gigou Président du Directoire Trigano : « Nous attendons à avoir encore une amélioration de la rentabilité sur le deuxième semestre » : Résultat du 1er semestre 2025/2026</title>
		<link>https://www.labourseetlavie.com/strategie-et-resultats/stephane-gigou-president-du-directoire-trigano-nous-attendons-a-avoir-encore-une-amelioration-de-la-rentabilite-sur-le-deuxieme-semestre</link>
		
		<dc:creator><![CDATA[Didier Testot]]></dc:creator>
		<pubDate>Thu, 07 May 2026 13:41:48 +0000</pubDate>
				<category><![CDATA[STRATEGIE ET RÉSULTATS]]></category>
		<category><![CDATA[Adira Dom]]></category>
		<category><![CDATA[BIO Habitat]]></category>
		<category><![CDATA[bourse]]></category>
		<category><![CDATA[camping-car]]></category>
		<category><![CDATA[distribution]]></category>
		<category><![CDATA[mobil-home]]></category>
		<category><![CDATA[remorques]]></category>
		<category><![CDATA[Stéphane Gigou]]></category>
		<category><![CDATA[Trigano]]></category>
		<category><![CDATA[véhicules de loisirs]]></category>
		<guid isPermaLink="false">https://www.labourseetlavie.com/?p=132416</guid>

					<description><![CDATA[<p>Le groupe TRIGANO a publié ses résultats pour le premier semestre 2025/2026 : « Au cours du premier semestre, Trigano a augmenté sa production de camping-cars afin de répondre aux besoins de ses distributeurs : les livraisons aux réseaux – soutenues par un carnet de commandes important – enregistrent ainsi une progression de près de [&#8230;]</p>
<p>L’article <a href="https://www.labourseetlavie.com/strategie-et-resultats/stephane-gigou-president-du-directoire-trigano-nous-attendons-a-avoir-encore-une-amelioration-de-la-rentabilite-sur-le-deuxieme-semestre">Stéphane Gigou Président du Directoire Trigano : « Nous attendons à avoir encore une amélioration de la rentabilité sur le deuxième semestre » : Résultat du 1er semestre 2025/2026</a> est apparu en premier sur <a href="https://www.labourseetlavie.com">La Bourse et la Vie TV L&#039;info éco à valeur ajoutée</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><strong>Le groupe TRIGANO</strong> a publié ses résultats pour <strong>le premier semestre</strong> 2025/2026 :</p>
<p><strong>« <em>Au cours du premier semestre, Trigano a augmenté sa production de camping-cars afin de répondre aux besoins de ses distributeurs : les livraisons aux réseaux – soutenues par un carnet de commandes important – enregistrent ainsi une progression de près de 10%. Par ailleurs, en raison de la moindre disponibilité de</em><br />
<em>véhicules de fin de série, les ventes au public du réseau de distribution intégré sont en léger recul sur la période. Au total, les ventes de camping-cars progressent de 7,1% à périmètre et change constants. Les ventes de caravanes ont bénéficié d’un comparable favorable et de la nécessaire reconstitution des stocks des réseaux de distribution. Elles affichent une croissance de 15,9% à périmètre et change constants. Grâce à l’intégration de BIO Habitat (acquise le 1er décembre 2024), les ventes de mobil homes progressent de 5% sur le semestre. A périmètre constant, Trigano enregistre cependant une baisse de son chiffre d’affaires de 14,2% sur ce segment. Dans un contexte de marché en bas de cycle, cet effet est à mettre en regard d’un recul des prix de vente moyens en lien avec un effet de mix défavorable aux produits haut de gamme d’Adria Dom (Slovénie). Par ailleurs, favorisées par une reprise de l’investissement des professionnels, les ventes de remorques sont en croissance de 3,2%</em>.</strong><strong>»</strong></p>
<p>Retour sur cette actualité, la stratégie et la situation du marché dans le nouveau contexte international, ainsi que les perspectives.</p>
<p><a href="https://www.labourseetlavie.com/tag/stephane-gigou"><strong>Stéphane Gigou Président du Directoire Trigano</strong> </a>est mon invité. Il précise : « nous allons sans aucun doute étudier de nombreux dossiers de croissance, en particulier sur le sujet des réseaux de distribution »</p>
<p class="bawpvc-ajax-counter" data-id="132416">
<p>L’article <a href="https://www.labourseetlavie.com/strategie-et-resultats/stephane-gigou-president-du-directoire-trigano-nous-attendons-a-avoir-encore-une-amelioration-de-la-rentabilite-sur-le-deuxieme-semestre">Stéphane Gigou Président du Directoire Trigano : « Nous attendons à avoir encore une amélioration de la rentabilité sur le deuxième semestre » : Résultat du 1er semestre 2025/2026</a> est apparu en premier sur <a href="https://www.labourseetlavie.com">La Bourse et la Vie TV L&#039;info éco à valeur ajoutée</a>.</p>
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		<title>Les risques financiers après le départ de Jerome Powell : L&#039;info éco + sur Sud Radio avec Didier Testot LA BOURSE ET LA VIE TV (3 mai 2026)</title>
		<link>https://www.labourseetlavie.com/economie-et-pedagogie/linfo-eco-presentee-par-didier-testot-sur-sud-radio/les-risques-financiers-apres-le-depart-de-jerome-powell</link>
		
		<dc:creator><![CDATA[Didier Testot]]></dc:creator>
		<pubDate>Sun, 03 May 2026 16:12:51 +0000</pubDate>
				<category><![CDATA[L'info Éco + présentée par Didier Testot sur Sud Radio]]></category>
		<category><![CDATA[ didier testot]]></category>
		<category><![CDATA[ eau]]></category>
		<category><![CDATA[ finance]]></category>
		<category><![CDATA[ médicaments]]></category>
		<category><![CDATA[ opep]]></category>
		<category><![CDATA[dollar]]></category>
		<category><![CDATA[Émirats]]></category>
		<category><![CDATA[Fed]]></category>
		<category><![CDATA[Hormuz]]></category>
		<category><![CDATA[Jérome Powell]]></category>
		<category><![CDATA[L'info éco +]]></category>
		<category><![CDATA[mariage]]></category>
		<category><![CDATA[médicaments amaigrissants]]></category>
		<category><![CDATA[pétrole]]></category>
		<category><![CDATA[poids]]></category>
		<category><![CDATA[Sud Radio]]></category>
		<category><![CDATA[Taux]]></category>
		<guid isPermaLink="false">https://www.labourseetlavie.com/?p=132409</guid>

					<description><![CDATA[<p>« L’info éco + » cette semaine avec les thèmes suivants : Cette semaine, c&#8217;est une véritable page de l&#8217;histoire financière qui se tourne, et ça se passe de l&#8217;autre côté de l&#8217;Atlantique, à Washington à la Réserve Fédérale C’était ce mercredi, la très puissante Réserve fédérale américaine tenait sa réunion. Et c&#8217;était un moment [&#8230;]</p>
<p>L’article <a href="https://www.labourseetlavie.com/economie-et-pedagogie/linfo-eco-presentee-par-didier-testot-sur-sud-radio/les-risques-financiers-apres-le-depart-de-jerome-powell">Les risques financiers après le départ de Jerome Powell : L&#039;info éco + sur Sud Radio avec Didier Testot LA BOURSE ET LA VIE TV (3 mai 2026)</a> est apparu en premier sur <a href="https://www.labourseetlavie.com">La Bourse et la Vie TV L&#039;info éco à valeur ajoutée</a>.</p>
]]></description>
										<content:encoded><![CDATA[<h1>« L’info éco + » cette semaine avec les thèmes suivants :</h1>
<p><strong>Cette semaine, c&rsquo;est une véritable page de l&rsquo;histoire financière qui se tourne, et ça se passe de l&rsquo;autre côté de l&rsquo;Atlantique, à Washington à la Réserve Fédérale</strong></p>
<p><em>C’était ce mercredi, la très puissante Réserve fédérale américaine tenait sa réunion. Et c&rsquo;était un moment historique, car ce devrait être la dernière présidée par son patron actuel, Jerome Powell. Lors de cette réunion Le communiqué du FOMC a indiqué que les « développements au Moyen Orient contribuent à un haut niveau d’incertitude au sujet des perspectives économiques » avec encore ce que les spécialistes appellent un biais accommodant (« easing bias ») qui mentionne des baisses de taux directeurs possibles. MAIS 4 personnes ont voté contre le communiqué : il n’y a pas eu autant de dissensions depuis <strong>juin 1992</strong>. Et dans son introduction, Jerome Powell a indiqué qu’il resterait au Board de la Fed malgré la fin de son mandat de président le 15 mai 2026 (son mandat de « simple » gouverneur court jusqu’en janvier 2028). Ce qui ne doit pas faire plaisir à Donald Trump. C’est la fin d’une présidence marquée par des événements extraordinaires : covid, crise énergétique de 2022, guerre commerciale, guerre en Iran… mais aussi intimidations sans précédent de la part de l’exécutif. Jérome Powell a d’ailleurs insisté sur le caractère collectif des décisions prises par l’institution, ce qui est une manière montrer les défis à venir pour Kevin Warsh, candidat de Donald Trump mais dont les vues sont loin d’être partagées par la majorité des membres de la Réserve Fédérale.</em></p>
<p><strong>Ce départ peut créer des incertitudes qui nous concernent ?</strong></p>
<p><em>On le sait, l&rsquo;économie est un village global. Quand le coût de l&rsquo;argent augmente en Amérique, la Banque Centrale Européenne, notre BCE à Francfort, est presque toujours obligée de suivre la cadence. Sinon ? Notre monnaie, l&rsquo;euro, risquerait de s&rsquo;effondrer face au dollar. Donc, le départ de Jerome Powell et l&rsquo;arrivée de son successeur créent de l&rsquo;incertitude. Le nouveau pilote appuiera-t-il sur l&rsquo;accélérateur ou sur le frein ? Sa décision dictera la tendance de l&rsquo;inflation mondiale. Et ça, cela aura un impact que ce soit pour le taux de votre futur crédit immobilier, ou le rendement de votre assurance-vie. Une stratégie agressive de la Banque Centrale Américaine ne serait pas sans conséquences sur nos économies. Côté BCE cette semaine, la Banque centrale européenne prolonge la séquence de stabilité initiée en juin 2025 et laisse inchangés ces trois taux directeurs à 2.00% pour le taux de dépôt. Le Conseil des gouverneurs a souligné l’intensification des risques sur l’inflation et la croissance, reflet de l’enlisement du conflit au Moyen-Orient. <strong>Pour l’heure, les marchés tablent sur 2 à 3 hausses de taux au S2 2026…avec un 1</strong><strong><sup>er</sup></strong><strong> mouvement en juin.</strong></em></p>
<p><strong>Un autre départ suscite aussi de nombreuses questions, les Émirats Arabes Unis quittent l’OPEP, peut-on en mesurer les conséquences ?</strong></p>
<p><em>C’est un évènement lié à ce conflit contre l’Iran inattendu. Les Émirats Arabes Unis vont quitter Opep le premier mai prochain. Clairement les EAU souffrent depuis un moment des quotas imposés par l’Opep dans la production de pétrole. Avant ce conflit ils produisaient 3.6 millions de barils/jour et ils étaient donc un des producteurs significatifs de l’Opep (le 3eme précisément et 12% de la production de l’Opep). Mais avec le maintien des quotas, cela les contraignait. C’est donc un changement radical qui va changer la donne pour l’OPEP. Et au sujet de ce qui peut se passer, la Russie a averti que le retrait brutal des Émirats arabes unis de l&rsquo;OPEP entraînerait une chute des prix du pétrole une fois le conflit au Moyen-Orient terminé, mais elle a confirmé son intention de rester au sein de l&rsquo;alliance élargie OPEP+. Le FT qui rapporte ces propos indique également les craintes des analystes selon lesquelles le <a href="https://www.ft.com/content/8c354f2d-3e66-47f1-aad4-9b4aa30e386d?syn-25a6b1a6=1">retrait soudain</a> du troisième producteur de l&rsquo;OPEP entraînera une guerre des prix une fois le conflit au Moyen-Orient apaisé, alors que les pays du Golfe tenteront de regagner des parts de marché. Un site spécialisé qui suit les pétroliers a précisé que les États-Unis étaient le plus grand exportateur mondial de brut en avril, dépassant le leader l’Arabie saoudite (et devançant également la Russie, les Émirats arabes unis et l’Irak).</em></p>
<p>&nbsp;</p>
<p><strong>Aux Etats-Unis, les robes de mariées </strong><strong>sont désormais vendues avec une décharge de responsabilité pour les futures mariées sous GLP-1. Kesako ?</strong></p>
<p><strong> </strong>L’économie c’est la vie est une de mes expressions favorites. C’est un article du WSJ qui relate l’info. Si la vente de robes de mariée a toujours été un secteur à haut risque, les nouveaux médicaments pour la perte de poids viennent bouleverser ce marché. Et les essayages pour le grand jour deviennent encore plus stressants. Face à l&rsquo;essor des médicaments amaigrissants <a href="https://www.wsj.com/health/pharma/genes-may-predict-how-much-weight-youll-lose-on-a-weight-loss-drug-f30e63e8?mod=article_inline">aux résultats spectaculaires</a> , les futures mariées doivent attendre longtemps avant de choisir leur robe. Les boutiques de mariage sont désormais contraintes d&rsquo;augmenter leurs stocks pour s&rsquo;adapter aux variations de poids de dernière minute, ce qui engendre un afflux croissant de commandes urgentes et de retouches à la hâte chez les couturières. Certaines utilisatrices de ces médicaments rapportent perdre une taille de vêtements toutes les deux à trois semaines, décrit le WSJ. D&rsquo;après une enquête menée auprès de plus de 11 500 couples par la plateforme de planification de mariage Zola, un couple sur dix qui organise son mariage cette année a recours à ces médicaments, et une proportion équivalente y songe. Pour plus de la moitié des couples qui prennent actuellement ces médicaments, le mariage imminent est la principale raison de leur prescription, révèle l&rsquo;enquête.Et Messieurs. Les futures mariées ne sont pas les seules à perdre du poids avant leur mariage, explique Ianieri-Salerno. Leurs futurs époux aussi, souvent. Mais pour les mariés, adapter leurs smokings et costumes à leur nouvelle taille est beaucoup plus simple. « Nous pouvons facilement et rapidement leur en louer un à leur nouvelle taille. »</p>
<p>Pour terminer, cela vient d’un trader vu sur le Web, la blague de la semaine Vous connaissiez l’acronyme <strong>TACO « Trump Always Chickens Out »  mais pour l&rsquo;instant, nous obtenons un NACHO « Not A Chance Hormuz Opens »</strong></p>
<p>&nbsp;</p>
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<p class="bawpvc-ajax-counter" data-id="132409">
<p>L’article <a href="https://www.labourseetlavie.com/economie-et-pedagogie/linfo-eco-presentee-par-didier-testot-sur-sud-radio/les-risques-financiers-apres-le-depart-de-jerome-powell">Les risques financiers après le départ de Jerome Powell : L&#039;info éco + sur Sud Radio avec Didier Testot LA BOURSE ET LA VIE TV (3 mai 2026)</a> est apparu en premier sur <a href="https://www.labourseetlavie.com">La Bourse et la Vie TV L&#039;info éco à valeur ajoutée</a>.</p>
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		<title>Jean-Lucien Rascle Pdg BOA Concept : « On est optimiste du fait des nouveaux produits » : Résultats annuels 2025</title>
		<link>https://www.labourseetlavie.com/strategie-et-resultats/jean-lucien-rascle-pdg-boa-concept-on-est-optimiste-du-fait-des-nouveaux-produits</link>
		
		<dc:creator><![CDATA[Didier Testot]]></dc:creator>
		<pubDate>Thu, 30 Apr 2026 15:29:28 +0000</pubDate>
				<category><![CDATA[STRATEGIE ET RÉSULTATS]]></category>
		<category><![CDATA[boa concept]]></category>
		<category><![CDATA[bourse]]></category>
		<category><![CDATA[e-commerce]]></category>
		<category><![CDATA[intralogistique]]></category>
		<category><![CDATA[Jean-Lucien Rascle]]></category>
		<category><![CDATA[logistique]]></category>
		<category><![CDATA[résultats annuels 2025]]></category>
		<category><![CDATA[robots]]></category>
		<category><![CDATA[Supply Chain]]></category>
		<guid isPermaLink="false">https://www.labourseetlavie.com/?p=132403</guid>

					<description><![CDATA[<p>BOA Concept : Résultats annuels 2025. La société a notamment indiqué les éléments suivants : «BOA Concept Group, éditeur et fabricant de solutions intelligentes et connectées d’automatisation et de robotisation dédiées à l’intralogistique , annonce ses résultats pour l&#8217;année 2025, arrêtés par le Conseil d&#8217;administration le 29 avril 2026. Une croissance soutenue, portée par l&#8217;international. Le [&#8230;]</p>
<p>L’article <a href="https://www.labourseetlavie.com/strategie-et-resultats/jean-lucien-rascle-pdg-boa-concept-on-est-optimiste-du-fait-des-nouveaux-produits">Jean-Lucien Rascle Pdg BOA Concept : « On est optimiste du fait des nouveaux produits » : Résultats annuels 2025</a> est apparu en premier sur <a href="https://www.labourseetlavie.com">La Bourse et la Vie TV L&#039;info éco à valeur ajoutée</a>.</p>
]]></description>
										<content:encoded><![CDATA[<h1>BOA Concept : Résultats annuels 2025.</h1>
<p>La société a notamment indiqué les éléments suivants :</p>
<blockquote><p><em><strong>«</strong></em><strong><a href="https://www.boaconcept.com/" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url?q=https://www.boaconcept.com/&amp;source=gmail&amp;ust=1777637522966000&amp;usg=AOvVaw0Wp7d0vxSbY6WEwszatw73"><span class="il">BOA</span> <span class="il">Concept</span></a> Group</strong>, éditeur et fabricant de solutions intelligentes et connectées d’automatisation et de robotisation dédiées à l’intralogistique (FR0011365907 – ALBOA), annonce ses résultats pour l&rsquo;année 2025, arrêtés par le Conseil d&rsquo;administration le 29 avril 2026.</p>
<p>Une croissance soutenue, portée par l&rsquo;international. Le chiffre d&rsquo;affaires de <span class="il">BOA</span> <span class="il">Concept</span> Group s&rsquo;établit à 26,8 M€ pour l&rsquo;exercice 2025, contre 22,5 M€ en 2024, soit une progression de 19,2 %. Cette performance résulte en grande partie de la progression de l’activité de la filiale Easy Systems Benelux. La part du chiffre d’affaires du groupe réalisé hors de France atteint 60%, permettant de compenser la morosité d’un marché national. <em><strong>»</strong></em></p></blockquote>
<p>Retour sur les dernières actualités, la stratégie dans les pays à l&rsquo;international, et les perspectives en France et dans ces pays.</p>
<p><strong>Jean-Lucien Rascle Président de BOA Concept est mon invité.</strong></p>
<p>&nbsp;</p>
<p class="bawpvc-ajax-counter" data-id="132403">
<p>L’article <a href="https://www.labourseetlavie.com/strategie-et-resultats/jean-lucien-rascle-pdg-boa-concept-on-est-optimiste-du-fait-des-nouveaux-produits">Jean-Lucien Rascle Pdg BOA Concept : « On est optimiste du fait des nouveaux produits » : Résultats annuels 2025</a> est apparu en premier sur <a href="https://www.labourseetlavie.com">La Bourse et la Vie TV L&#039;info éco à valeur ajoutée</a>.</p>
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