Analysts' Consensus

These forecasts are not endorsed by Helios Towers plc nor does Helios Towers plc assume any obligation to update or revise the consensus to reflect circumstances arising after the date below.

This consensus has been compiled by Helios Towers plc as of 25 March 2021 from forecasts provided by 10 registered investment analysts. Firms contributing to the consensus were: Jefferies, Bank of America, J.P. Morgan Cazenove, Standard Bank Group, EFG Hermes, Renaissance Capital, Barclays, Numis Securities, Citi Research and Berenberg.

(In US$m, unless indicated otherwise)   FY2021     FY2022  
Mean High Low Mean High Low
Sites(#) 9,421 10,425 8,701 10,321 12,018 9,049
Tenancies(#) 18,594 20,007 17,933 20,504 22,913 19,281
Revenues 473.3 490.0 460.0 544.6 603.6 511.0
EBITDA(1) 262.7 272.0 254.0 305.7 328.0 285.0
Capex 336.6 467.2 244.0 155.5 279.3 86.0

Updated analyst estimates as at 12/04/2021 (latest sell-side publication date)

(1)Adjusted EBITDA is defined as loss for the period, adjusted for tax expenses, finance costs, gain/(loss) on derivative financial instruments, interest receivable, loss on disposal of property, plant and equipment, amortisation of intangible assets, depreciation and impairment of property, plant and equipment, depreciation of right-of-use assets, recharged depreciation, deal costs, share-based payments and long-term incentive plan charges, and exceptional items. Exceptional items are material items that are considered exceptional in nature by management by virtue of their size and/or incidence.