Business
Q1 2023 Results
Q1 2023 Results.
About this update from Helios Towers Plc
[{"type":"text","content":"\n\nHELIOS TOWERS plc\n \nUnaudited trading update for the three months ended 31 March 2023\n \nRecord year-on-year organic tenancy additions\n \n+27% year-on-year Adjusted EBITDA growth\n \n2023 guidance reiterated\n \nLondon, 18 May 2023: Helios Towers plc (\"Helios Towers\", \"the Group\" or \"the Company\"), the independent telecommunications infrastructure company, today announces results for the three months to 31 March 2023 (\"Q1 2023\").\n \n\n\n\n\n \n\n\nQ1 2023\n\n\nQ1 2022\n\n\nChange\n\n\nQ1 2023\n\n\nQ4 2022\n\n\nChange\n\n\n\n\nSites\n\n\n13,684\n\n\n10,511\n\n\n+30%\n\n\n13,684\n\n\n13,553\n\n\n+1%\n\n\n\n\nTenancies\n\n\n25,120\n\n\n20,233\n\n\n+24%\n\n\n25,120\n\n\n24,492\n\n\n+3%\n\n\n\n\nTenancy ratio\n\n\n1.84x\n\n\n1.92x\n\n\n-0.08x\n\n\n1.84x\n\n\n1.81x\n\n\n+0.03x\n\n\n\n\nRevenue (US$m)\n\n\n170.8\n\n\n127.5\n\n\n+34%\n\n\n170.8\n\n\n151.9\n\n\n+12%\n\n\n\n\nAdjusted EBITDA (US$m)1\n\n\n84.7\n\n\n66.7\n\n\n+27%\n\n\n84.7\n\n\n76.0\n\n\n+11%\n\n\n\n\nAdjusted EBITDA margin1\n\n\n50%\n\n\n52%\n\n\n-2ppt\n\n\n50%\n\n\n50%\n\n\n-\n\n\n\n\nOperating profit (US$m)\n\n\n33.0\n\n\n14.4\n\n\n+129%\n\n\n33.0\n\n\n17.4\n\n\n+90%\n\n\n\n\nPortfolio free cash flow (US$m)1\n\n\n57.7\n\n\n49.4\n\n\n+17%\n\n\n57.7\n\n\n56.3\n\n\n+2%\n\n\n\n\nCash generated from operations (US$m)\n\n\n36.2\n\n\n52.7\n\n\n-31%\n\n\n36.2\n\n\n31.5\n\n\n+15%\n\n\n\n\nNet debt (US$m)1\n\n\n1,734.2\n\n\n1,012.7\n\n\n+71%\n\n\n1,734.2\n\n\n1,678.0\n\n\n+3%\n\n\n\n\nNet leverage1,2\n\n\n5.1x\n\n\n3.7x\n\n\n+1.4x\n\n\n5.1x\n\n\n5.1x\n\n\n-\n\n\n\n\n1 Alternative Performance Measures are described in our defined terms and conventions.\n2 Calculated as per the Senior Notes definition of net debt divided by annualised Adjusted EBITDA.\n \nTom Greenwood, Chief Executive Officer, said:\n \n\"Following two years of transformational expansion, concluding with the Oman acquisition closing in December 2022, we have started our next chapter with strong performance that demonstrates the quality of our enlarged platform. Our leading positions in high-growth markets has supported one of our best ever quarters of organic tenancy additions, which combined with our robust business model, that features CPI and power price protections, has supported double-digit organic Adjusted EBITDA growth ye...