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Key highlights (FY 2019)

Financial highlights

  • Full year Group revenue increased by 9% year-on-year to US$388m (2018: US$356m), driven by the continued growth in the number of sites and tenancies across the Group.
    • Q4 2019 Group revenue increased by 3% to US$100m (Q3 2019: US$97m).
  • Full year Adjusted EBITDA increased by 16% year-on-year to US$205m (2018: US$178m), reflecting both tenancy growth and continued improvements in operational efficiency, with the Adjusted EBITDA margin expanding to 53% (2018: 50%), up 3ppts.
    • Q4 2019 Adjusted EBITDA increased by 2% to US$54m (Q3 2019: US$52m), the 20th consecutive quarter of Adjusted EBITDA growth.
  • Operating loss was US$-5m in 2019, decreasing by US$-8m year-on-year (2018: US$3m). Operating loss in 2019 included US$63m of exceptional items, deal costs and non-cash costs related to our continued site consolidation programme (2018: US$32m).
  • Net debt at 31 December 2019 of US$627m (2018: US$657m), resulting in net leverage of 2.9x as of 31 December 2019 (31 December 2018: 3.5x).

Read the FY 2019 results in full here

Operational highlights

  • Number of tenants increased by 8% year-on-year to 14,591 tenants (2018: 13,549). Q4 tenancy number increased by 3% (Q3 2019: 14,226).
  • Number of sites increased by 3% year-on-year to 6,974 total sites (2018: 6,745). Q4 number of sites increased by 1% (Q3 2019: 6,903).
  • Tenancy ratio increased by 0.08x to 2.09x (2018: 2.01x). Q4 tenancy ratio increased by 0.03x (Q3 2019: 2.06x).
  • In March 2019, the Group entered the South African market through a partnership with Vulatel to create Helios Towers South Africa; and through the subsequent acquisition of SA Towers in May, delivering a pipeline of over 500 sites.
  • On 18 October 2019 Helios Towers was admitted to the premium segment of the Official List and trading on the Main Market of the London Stock Exchange.
  • The Company continues to monitor markets to determine an adequate window for a potential refinancing of its existing capital structure through an issuance of notes. The refinancing is also expected to consist of a new revolving credit facility in an amount up to US$70m and a new US$200 term loan to be used for inorganic growth opportunities and general corporate purposes.

Read the FY 2019 results in full here