Helios Towers, the independent telecoms tower infrastructure company, announces audited results for the 6 months to 30 June 2018.

Financial highlights

  • Q2 2018 revenue increased by 4% year-on-year to US$89m (Q2 2017: US$86m)
  • Q2 2018 adjusted EBITDA up 27% year-on-year to US$44m (Q2 2017: US$35m) with Q2 2018 adjusted EBITDA margin at 49% (Q2 2017: 40%), up 9ppts
  • H1 revenue increased 5% year-on-year to US$178m (H1 2017: US$169m)
  • H1 adjusted EBITDA up 27% year-on-year to US$86m (H1 2017: US$68m)
  • Q2 2018 gross leverage at 4.1x (Q2 2017: 5.2x) and net leverage at 3.7x (Q2 2017: 3.3x)
  • Cash and cash equivalents of US$74m at the end of the period (30 Jun 2017: US$268m)

Operational highlights

  • Increase in tenancies of 2% year-on-year to 12,996 tenancies (Q2 2017: 12,701 tenancies)
  • Tenancy ratio increased by 0.04x to 1.99x (Q2 2017: 1.95x) net of Ghana Airtel-Tigo merger
  • Ghana Airtel-Tigo contract extension from 5 years to 15 years
  • Announced investment in upgrading and building backbone sites covering 1,800km in the DRC, to improve mobile infrastructure and connectivity to an estimated 6 million citizens in the country


  • Helios Towers remain focussed on continued top-line growth through additional colocation volumes, amendment revenues and built-to-suit tenancies as well as margin expansion driven by additional operational efficiencies
  • The Group is well positioned for continued growth with market leading positions in some of the most attractive and highest growth telecom markets in Sub-Saharan Africa 

Kash Pandya, Chief Executive Officer of Helios Towers, said:

“Helios Towers has produced another strong quarter which has seen continued adjusted EBITDA growth with adjusted EBITDA margin at 49% for Q2, and we have the momentum to hit 50% by year end.

Today we also announced our investment in DRC’s telecom infrastructure backbone, enabling mobile operators to roll out and enhance coverage following the government’s 4G licensing programme. This exemplifies how Helios Towers is unlocking the potential for mobile connectivity in high-growth markets – delivering for our customers, employees and investors.”

Media Relations
Edward Bridges / Stephanie Ellis FTI Consulting LLP +44 (0)20 3727 1000

About Helios Towers

  • Helios Towers 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.
  • Helios Towers owns and operates 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 providing services utilising the tower infrastructure 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.

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