Helios Towers, the independent telecoms tower infrastructure company, announces unaudited results for the 9 months to 30 September 2017.
Strong Quarter of Financial and Operational Progress
- Revenue for the 9 months increased 28% year-on-year to US$257m (Q3 2016: US$200m) 87% of revenue from investment grade or near investment grade customers
- Adjusted EBITDA up 49% year-on-year to US$87m (Q3 2016: US$59m) with adjusted EBITDA margin at 34% (Q3 2016: 29%)
- Q3 2017 Adjusted EBITDA increased by 8% from Q2 2017 to $31m (Q2 2017: $29m) with adjusted EBITDA margin increasing to 36% (Q2 2017: 33%)
- Cash and cash equivalents of US$236m at the end of the period (31 December 2016: US$134m)
- Tenancy ratio improved to 1.92x (Q3 2016: 1.85x)
- Total sites at 6,540 up 1% year-on-year (Q3 2016: 6,495)
- Total colocations up 10% year-on-year at 6,033 (Q3 2016: 5,496)
- Existing customers increasing equipment on sites driving amendment revenues and tenancies
"We have delivered another strong quarter which has seen continued top-line growth enhanced by margin expansion and operational improvement.
We remain focused on ensuring that our towers are colocation ready through strengthening and delivering power reliability which has allowed us to grow both tenancy ratios and colocations year on year. Our opex saving initiatives are on track in Tanzania and DRC and have helped in increasing margins this quarter. We have also been able to grow amendment revenues from existing customers as they add more equipment to our towers to support their growing needs.
Our Business Excellence Programme continues to enhance our product performance and positions us to deliver long-term growth and future value for both our shareholders and bondholders."
Chief Executive Officer
For further information, please contact:
|Edward Bridges||FTI Consulting LLP||+44 (0)20 3727 1000|
HT is a leading independent tower company in Africa, having established one of Africa's most extensive tower networks with more than 6,500 towers in four markets. HT builds and manages telecom passive infrastructure, leasing it to operators across the continent.
HT are the sole independent telecommunications tower infrastructure company, and own and operate more tower sites than any other operator in each of Tanzania, Democratic Republic of Congo, or DRC, and Congo Brazzaville. We are also a leading operator in Ghana with a strong urban presence.
The company pioneered the sale-leaseback model in Africa, buying towers that were held by single operators and leasing them back to the seller and other operators. Allowing wireless operators to outsource non-core tower-related activities enabling them to focus their capital and managerial resources on providing higher quality services more cost-effectively.
Investors in HT include: Helios Investment Partners, Quantum Strategic Partners, Albright Capital Management LLC, RIT Capital Partners Plc, the International Finance Corporation and Millicom International Cellular.