15 consecutive quarters of EBITDA growth with EBITDA margin exceeding 50% for first time

Helios Towers, the independent telecoms tower infrastructure company, announces results for the 3 months to 30 September 2018.

Financial highlights

  • Q3 2018 revenue increased by 1% year-on-year to US$88.1m (Q3 2017: US$87.6m)
  • Revenue for the 9 months increased 4% year-on-year to US$266.2m (30 Sep 2017: US$256.6m)
  • Q3 2018 adjusted EBITDA up 22% year-on-year to US$45.2m (Q3 2017: US$37.0m) with Q3 2018 adjusted EBITDA margin at 51% (Q3 2017: 42%), up 9ppts
  • Adjusted EBITDA for the 9 months up 25% year-on-year to US$131.1m (30 Sep 2017: US$104.9m)
  • Cash and cash equivalents of US$61.5m at the end of the period (Q3 2017: US$235.6m)
  • US$100m term loan facility raised to fund future expansion in current markets and opportunities in new markets


Operational highlights

  • Increase in colocations of 8% year-on-year to 6,503 colocations (Q3 2017: 6,033 colocations)
  • Increase in tenancies of 4% year-on-year to 13,063 tenancies (Q3 2017: 12,573 tenancies)
  • Tenancy ratio increased by 0.07x to 1.99x (Q3 2017: 1.92x)


  • Helios Towers remain focussed on continued 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


“Helios Towers continue to deliver quarter-on-quarter growth, producing another strong quarter which has seen continued adjusted EBITDA growth with adjusted EBITDA margin at 51% for Q3, hitting our 50% target by year end. Additionally, group revenue for the 9 months increased 4% year-on-year to US$266m.

“Our focus on business excellence has been applied to all areas of our business activities and I am delighted that we have reduced both power and non-power costs substantially. As we approach 2019, our focus continues to be on delivering for our customers, employees and investors. We remain committed to unlocking the potential for mobile connectivity in high-growth markets within Africa, with our recently announced investment in DRC’s backbone telecom infrastructure an example of where we are delivering this.”

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. It builds, owns and operates telecom passive infrastructure, providing services to mobile network operators across the continent.
  • It owns and operates more tower sites than any other operator in each of Tanzania, Democratic Republic of Congo and Republic of Congo. It is also a leading operator in Ghana with a strong urban presence.
  • The Group 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. This allows 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 Helios Towers include: Helios Investment Partners, Quantum Strategic Partners, Albright Capital Management LLC, RIT Capital Partners Plc, the International Finance Corporation and Millicom.

For further information go to:


Download the Q3 Quarterly Report