Helios Towers reports profit hike in H1

Helios Towers reports profit hike in H1

Telecoms infrastructure provider Helios Towers revealed a hike in revenue and profit in its H1 results and announced raises to its outlook despite high debt.

The company saw H1 2023 revenue increase by 32% year-on-year (YoY) to US$350.2 million, driven by strong organic tenancy growth, acquisitions in Malawi and Oman and contractual escalators.

Adjusted EBITDA in the half year was up 28% YoY to US$173.8m. Operating profit surged 74% to US$69.3m, driven by growth from adjusted EBITDA. However, debt stood at US$1.7 billion in the half, a 58% YoY increase.  

The number of towers and cell sites increased by 3,176 year-on-year to 13,870 reflecting the organic site growth of 657 sites and the acquisition of 2,519 sites in Oman. Tenancies of sites increased by 5,334 year-on-year to 25,883 reflecting an addition of 2,317 organic tenancies and 3,017 acquired tenancies in Oman.

Helios updated its outlook, now expecting to increase tenancy to 19,00 – 2,100, under half (40%) will be new sites. Adjusted EBITDA is expected to be between US$355m - US$365m (prior: US$350m - US$365m). Finally, capex is forecast to be between US$180m - US$210m (prior: US$170m – US$210m).

In a statement, Helios Towers CEO Tom Greenwood said: “I am delighted with the Company’s performance in the first half of the year, which included delivering record organic tenancies and continuing improvements in customer delivery.

“The team also continues to make solid progress on our 2023 goals of acquisition integration, tenancy ratio expansion, accelerating Adjusted EBITDA growth and reducing net leverage. Accordingly, we have tightened our full-year 2023 guidance to the top end of our previously announced range and we remain committed to delivering sustainable value for all our stakeholders.”

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