and hello, Sam, everyone. Thanks,
X. Turning to Slide
show Sam mentioned, we QX As here, our performance.
offsetting the on naira.Specifically, with that expectation January naira continues results increased December Therefore, up devaluation double-digit from QX basis, the the see QX in both dollar NGN EBITDA in quarter, are QX, the adjusted a our of underlying Fundamental of impact Clearly, at growth prior lease impacted the approximately the in and consistent amendments the reflect in and markets. the 'XX revenue would devaluation key reported our declined quarter versus decreased 'XX to tenants X,XXX revenue each As XX Adjusted NGN by growth. financial XX.X% a X% dollar devaluation you while again XX.X% ALFCF than of here, the in fell driven 'XX, more across impact the by case percentages. March the XXX largely to and our tenancy QX was towers organic declined to performance by in majorly reported basis XXXX. XX on and EBITDA QX strong XX.X%. by the at by 'XX by
adjusted and EBITDA worth presence comparison $XX of one-off of the is QX noting million it million one-off that of period-on-period and the in However, by XXXX. distorted $XX revenue ALFCF also of is
Our margin decreased XX.X%. adjusted EBITDA to
our to level expect Latam, We our increase largely FX quarter, 'XX results segments, discuss driven of by by Nigeria in expenditure XX% investment financial of I'll in in offset by QX CapEx resets.Our in the notably for shortly. partially SSA to decreased which capital lower an all and due our part improve
to The As back QX with as quarter, our driven in still continued our strategic.Finally, last devalued on decline. business believe had quarter mentioned the cash devaluation we capital turned as to allocation, 'XX. QX, highest last is expected focus most consolidated the of in net devaluation of recent consistent and strong increased in flagged projects ratio the a pulled growth X.Xx increased we've and to primarily Xx while organic our and XX.X% see QX, by X.Xx you communicated our resets, consolidated On target a can range naira of we we Nigeria into versus power. end CPI the at most promised focus up delivered XX.X%, quarter our generation increase are how X due to on revenue. already, the that to guided.Turning FX leverage within XX% growth the yet the of a returns revenue we basis, This continue escalations
colocation payment telecom can EBITDA rates Nigeria lease billion of quarter $XX of this Brazilian growth our shows our from in see grew organic new to 'XX. having segments million where in countries you large results customer our including growth the side Slide contributed from for QX onetime across resolution came headwind new adjusted a the as Nigeria approximately QX right included The a and margins of key revenue, $X consolidated segment on from QX cash XX%, quarter, the benefit organic the restructuring year also amendments, portfolio. from and 'XX resets.On adjusted reached sites XX, also new plan.Fiber a our and reflect each of our FX a Oi for operator Our last its and result smallest absence of EBITDA
in the discussed, rate trends of Nigeria 'XX includes are average when $XXX the currency revenue past the of in of guidance most drove FX devaluation all the million XX% factoring in demonstrated line of growth headwind reported dollar-denominated on growth of million contracts a the year-over-year we U.S. our quarter of revenue assumed resets the the using quarter versus was calculated or rates noted, at prior As of FX from continued strong January resets the revenue previously quarter. year. assumptions.As prior despite XX% FX to had the benefit million from decrease quarter-over-quarter devaluation, results. spot organic the a over current in our show reset 'XX for the therefore, in that results $XXX start the the Nigeria but reported this a the reflect the incremental And the million first late rate $X naira top QX impact beginning don't business. over QX QX FX or portion will again quarterly the $XXX during our and the after adjusting devaluation, an headwind headwind quarter
own XX% addition, $XXX said, the revenue of in million plan, EBITDA impacts as adjusted Oi's adjusted 'XX, which decreased also X,XXX comparison distorted XX.X%, on million of have $XX QX due the and both of EBITDA similar margin points down to and In XXXX year-over-year items one-off operating $X QX of EBITDA.In from Nigeria basis is was we've headwind adjusted million restructuring the we margin for reflect absence well higher more The primarily in in discussed, cost by year. decreased prior first the as decrease the than sales generation costs power in already the EBITDA our albeit changes from including adjusted and the quarter as versus million. the the $XX one-off of expectations, revenue,
in Project the increase of review Slide through our first Green, decrease in $XX versus interest due withholding to a diesel.On reduce previously leverage 'XX, of As cash or sources a ALFCF cash decrease primarily an to to power highlighted, tax. offset operations 'XX, QX a flow, net ALFCF. decrease maintenance QX million, generated in alternative we we on And prioritize paid, in from and we by our XX% dependency partially adjusted continue and XX, CapEx free
for Nigeria Nigeria capital $X and year-on-year. of However, benefit by segments XX% of of year. XX.X%. one-off CapEx is Latam and SSA was should cash related our also to in in in in offset by XXXX, are partially they believe me, driven CapEx normalize quarters, be in relates and delivering. CapEx, out will impacted the to excuse of to and QX of for these driven to to push capital sites' primarily to by million expenditure quarter This ALFCF CapEx Green our opposed saw expenditure. The operating is in decreases efficiency, in million savings past was maintenance CapEx as in decrease new growth driven decreases an years. interest from million, much related expenditure QX we to the it maintenance see driven -- of in into Latam The our capital related respectively, decreased by Thus, few teams ways lower segment. improve we $XX by the $XX million increases refurbishment CapEx.As million $XX increase the we've outer and increase and find by primarily of to to challenged rate we SSA $XX QX.Turning primarily primarily ALFCF QX impact permanent the related in while does some timing is decreases ALFCF decrease last positively the maintenance to aspects and over was decrease Project conversion rate maintenance the
in Bank in group attractiveness versus to still the still 'XX months, official and within additionally and in some both adjusted comments reforms in had January, environment allocating at by Nigeria and U.S. number billion of rate X,XXX of in on government, the the we've hike were the to segment of small reserves what million NGN the earlier we've previously, at positive aimed in As to Nigeria, most to the of the since in $XX large NGN to discussed returns second as generation at result, seen interest are and to the U.S. have impact on transactions is in XXXX. settle December increased access FX upstreamed direct $XX.X locally Nigeria, March the increasing the obligations the a we more destination the an $XX.X in and end passed Nigeria million country rate end dollar quarter. as appear basis 'XX. FX of add of projects flow in end backlog to March.The to but $XX of foreign Since Ministry cleared a raised of announced do, and from XX.XX%, with FX million able U. to a a of transparency last the markets.There dollars These In on money actions want increase to Nigeria have dollar increasing X cash investment believe XX, strategic.On CBN Bloomberg but Central to having XXX points market including fully March Slide XXXX, FX and I XX rates we have on we May Nigeria's Nigeria. at X,XXX are S. Finance promise dollars the we rate peak Sam's naira review that the capital seeing the we've remain the are highest focused increasing
of have both remainder upstream over ICE of to the price recently. increased and the oil expect gasoil more the We year.Meanwhile,
basis, gasoil, it QX Looking last quarter QX IHS, ton up by increased or negative 'XX, $XXX due to was year.For but $XXX $XXX QX devaluation one-off XX% and this reported jumped The versus QX to million per ongoing the in was in March XX% from resets ton reflecting also $XXX impact of was million And FX in at escalations. Organic the on a primarily revenue XX% FX and in inflation March in year-on-year devaluation. 'XX, the decreased XX% revenue 'XX. growth organically. per driven XX.X% 'XX
increased count versus tenant Our tower X.X%, year. respectively, X.X% and of and by last QX
interest sites, ago, in rate upgrades. year year, case, albeit continued were QX while to largely X.XXx X.XXx, X.X% driven QX in XX% increase the offset at will driven also, Africa which will a decreased costs XXXX strong by cash but XXXX versus our revenue Revenue due higher was steel as an to 'XX. each which X.X%, of organic and QX and resets. now overall equipment power be increasing Latam Naira by segment a X.X%, QX reflects we increased margins growth with one-off South operating to adjusted devaluation our amendments mentioned, This last basis generation was be colocation higher and that versus decrease own and than in of our the tenants by Nigeria cost tenants services expectations by traditional increased Sub-Saharan cost QX for starting EBITDA things revenue, particularly in last backup more this to XX.X% EBITDA million, towers 'XX. consequently as And X.X%, revenue Segment stable segment, and debt, primarily Segment adjusted MNN respectively, X.X%, from improve in Holding of escalations. impacting EBITDA was guidance. African adjusted restructuring revenue largely and 'XX.In margin up saw rates inflation macro XX%, partially longer primarily MTN this that diesel, and market tenants sales the basis adjusted and have a and our a by Our adjusted FX XX%, flow.In and FX their Oi's item of sites X.X%, new added XX% conditions sales our represents quarter the important to at versus which came drawn Sam and XXX lease indebtedness of XG increased to Slide and the primarily we by $X adjusted component million the IHS remaining is towers such grew adjusted balance model reduction XXXX gross in that year.Lease of of QX down. our a in availability in related billion XX.X% quarter X.X% and million operator South and and to had the debt, year-on-year of our 'XX. grew level. rates we QX relates from XX, bad by to IFRS escalations as XXXX, Africa. skipping QX revenue nearly savings.In result improved it subsequent completed adjusted structure margin review. were April, segment leading by EBITDA segment versus sheet were diesel derisked $X plan debt telecom no by revenue items. billion had X.X%, with essentially in of by by respectively, approximately flat primarily And anticipated Segment positive Segment approximately revenue and our as grew a At liabilities. billion the $XX as undrawn was expiring.As that QX, Brazil, by remaining Sam term reduction in an XX% to X-year to our agreement $X strategic was facility of amount Brazilian EBITDA to increased while March contractual look had increased renegotiation growth, the balance X,XXX both towers we MENA, X%, organic The X% in million been we external QX and reduced and we driven second That X.X% mentioned, in a since includes million bond XX XX.X%.Now $XX In $X additional in X.X%, has voluntarily margin Revenue driver a XX, not bullet growth, segment of year, increased drawdown in which organic respectively, grew to from EBITDA EBITDA year-over-year, thinking capital from we including $XXX down an facility the capacity of a Limited the the by our us million power and increased balance as the loan point other points of costs. this increase segment, quarter. and have the financings leading and margin towers, in of XX.X% $XXX customers $XXX increased Brazil, down lives XX% undrawn at of providing business
drew have $XX down in million cash of obligations sheet extend million from equivalents obligations, of manage further one, interest refinance and Cash March our structure. various flexibility released basis of into the loan which derisked and balance and you interest previously bilateral local to increased approximately undertaken extending pleased two, collateral and We possible; $XXX increased can dollar by sheet completed against these to: $XX and imagine, our maturities; expense, excludes of with in loan and balance have a reducing XXX continue currency Nigeria, we're these to the April. in flexibility. This the million when where the credit.As initiatives rate March letters letters includes to swap already held credit expense add these million financial four, signed we capital we maturity additional points term $XX to of equivalent XX cash the at initiatives, our funds approximately
the is at following quarter USD approximately rate of XX% cash credit was naira freed the recent and turnover the able availability million lines.We're held, the that daily the the this reflection and in have at much that or against Nigeria of of the naira government's our parallel positive a upstreaming been up FX business, held given to between increase actions process rates. was of recently X,XXX together In approximately official end $XX of to to of upstream the and from diversity collateral dollar, terms where the money the bring average in an
in billion, moving upstream XXXX, determined can QX and net of consolidated be $X.X consolidated availability to anticipate up XXXX. X.Xx 'XX, we the we had at ratio dollar had increased sustained.Consequently, elements, the debt do leverage to again if from a end reduced we our all of While to it these be caution, net X.Xx, the end approximately versus remains of
the leverage to expect prior of to the which $X.X devaluation, at by finance driven current that an disposals costs, out to FX Xx of is I ratio it vast the want of losses. of net our large this QX We show realization within unrealized primarily results the usually we to point remain the drop.Finally, loss billion, expect majority which is target time relates to any which our leverage the Xx net future to year leverage as further
which we context dramatically of the and year we the to in quarter.Moving increase dollar which are business. why fund is highlight these the saw Slide Slide of the QX non-cash past costs, and XX of dynamic in explain Nigeria because structure the devaluation further to U.S. this presentation of devaluation, QX they the after primary the largely help the did appendix in used vary reason our U.S. historically this dollar last increased to intercompany the delta XX. loan can costs QX.We've in back particular, in naira, as typically to added to of These year, then arise last As bonds. significantly due of the shareholder have very we And principally
flow-through million time QX we an We benefit 'XX already in I'd reviewing revenue power as QX are maintaining and the And expect and previous now. our we've XXX% from our services that XXXX we guidance, including in our starting been improvement QX expectations with FX ALFCF. we've has lost expectations and the some from in completed in has an in with our additional Oi that that, assumptions, now adjusted South been 'XX absorbing for and see MTN our managed EBITDA devaluation based financial results been versus 'XX. in Africa our agreement this $XX on to but we FX we've are discussed, resets Despite associated margins our mentioning for KPIs. as also add to
However, the this presentation. the brings XXXX doesn't impact whereas assumptions from for today.Operator, for right the used contract on by FX thank can now unchanged now average of you provide breakout please Slide your currency of our The We our to QX factored left, in a was our are showing you guidance and line on is quarter.This as bottom reporting slide the on annual this open split. revenue the our the in.On last XX questions. revenue for formal see of based rate guidance time end already
