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Key highlights (H1 2020)

Financial highlights

  • H1 2020 Group revenue increased by 7% year-on-year to US$204.0m (H1 2019: US$190.7m) driven by continued growth in the number of sites and tenancies across the Group.
    • Q2 2020 Group revenue increased slightly quarter-on-quarter to US$102.2m (Q1 2020: US$101.8m).
  • H1 2020 Adjusted EBITDA increased by 10% year-on-year to US$109.1m (H1 2019: US$99.0m), reflecting both tenancy growth and continued improvements in operational efficiency, with H1 2020 Adjusted EBITDA margin at 53% (H1 2019: 52%), up 1ppt.
    • Q2 2020 Adjusted EBITDA increased quarter-on-quarter to US$55.1m (Q1 2020: US$54.0m), with Q2 2020 Adjusted EBITDA margin at 54% (Q1 2020: 53%), up 1ppt.
  • H1 2020 operating profit increased by 131% year-on-year to US$29.3m (H1 2019: US$12.7m).
    • Q2 2020 operating profit increased by 42% quarter-on-quarter to US$17.2m (Q1 2020: US$12.1m).
  • Successfully completed refinancing with the issuance of US$750m Senior Notes due 2025 with 7.00% coupon alongside raising of new US$70m revolving credit facility and new term loan of up to US$200m which will be utilised predominately on expansionary opportunities.

Read the H1 2020 results in full here

Operational highlights

  • On 12 August Helios Towers signed an agreement with Free Senegal, the second largest mobile operator in Senegal, to acquire its 1,220 tower portfolio for an upfront cash consideration of €160 million (c.$189 million). Additionally 400 build-to-suit sites have been committed to be rolled out over the next 5 years. Helios Towers have entered into a 15 year service agreement with Free Senegal for the provision of hosting and energy services on the acquired sites and the build-to-suit sites to be rolled out in the future.
  • Helios Towers continues to monitor the impact of COVID-19 on its operations and to date there has been no significant impact. The telecommunications sector has been classified as an ‘essential service’ in our markets, allowing us to operate at our normal high levels of service, with record power uptime in June 2020, as well as roll out of new tenancies.
  • Increase in tenancies of 806 tenants year-on-year to 14,906 tenants (H1 2019: 14,100 tenants). Q2 2020 tenancies increased by 229 quarter-on-quarter to 14,906 (Q1 2020: 14,677).
  • Increase in sites of 210 sites year-on-year to 7,092 sites (H1 2019: 6,882 sites). Q2 2020 number of sites increased by 101 quarter-on-quarter to 7,092 (Q1 2020: 6,991).
  • Tenancy ratio increased year-on-year by 0.05x to 2.10x (H1 2019: 2.05x). Q2 2020 tenancy ratio constant quarter-on-quarter at 2.10x.
  • Two in-market acquisitions were signed in Q2 2020 which is in line with the full year capex guidance.
    • 29 June 2020: Helios Towers plc’s South African subsidiary acquired 46 sites from Eagle Towers, with a further 19 sites expected as part of this transaction later in the year.
    • 30 June 2020: Helios Towers Congo Brazzaville signed a Managed Service Agreement for 34 sites which are in the process of being acquired from Airtel Congo S.A.

Read the H1 2020 results in full here