Business
Results for the year and quarter ended 31 Dec 2023
Results for the year and quarter ended 31 Dec 2023.
About this update from Helios Towers Plc
[{"type":"text","content":"\n\nHELIOS TOWERS plc\n \nHelios Towers plc announces results for the year and quarter ended 31 December 2023\n \nTenancies, Adjusted EBITDA and ROIC ahead of expectations\n \n+29% revenue and +31% Adjusted EBITDA year-on-year growth\n \n+10-14% Adjusted EBITDA growth, free cash flow inflection and <4.0x net leverage targeted in FY 2024\n \nLondon, 14 March 2024: Helios Towers plc (\"Helios Towers\", \"the Group\" or \"the Company\"), the independent telecommunications infrastructure company, today announces results for the year to 31 December 2023 (\"FY 2023\").\n \nTom Greenwood, Chief Executive Officer, said:\n \n\"I am extremely pleased with the operational and financial performance of the business. In our first year with all recent acquisitions integrated, we exceeded expectations in customer delivery and across our KPIs. This included record organic tenancy growth that supported return on invested capital (ROIC) expansion.\n \nLooking forward, we have conviction in a faster pace of tenancy ratio expansion than our prior medium-term guidance. As such, we have adjusted our strategic target of '22,000 towers by 2026', which included meaningful inorganic site growth, to '2.2x tenancy ratio by 2026', prioritising organic growth and returns expansion. Consequently, we expect FY 2024 to be our inflection year for free cash flow, and continue to grow thereafter.\n \nWe have built a compelling and unique platform in some of the world's fastest growing mobile markets and through our focus on customer service excellence, are well placed to capture the structural growth and deliver sustainable value for our stakeholders.\"\n \n\n\n\n\n\n\n\nFY 2023\n\n\nFY 2022\n\n\nChange\n\n\nQ4 2023\n\n\nQ3 2023\n\n\nChange\n\n\n\n\nSites\n\n\n14,097\n\n\n13,553\n\n\n+4%\n\n\n14,097\n\n\n14,024\n\n\n+1%\n\n\n\n\nTenancies\n\n\n26,925\n\n\n24,492\n\n\n+10%\n\n\n26,925\n\n\n26,624\n\n\n+1%\n\n\n\n\nTenancy ratio\n\n\n1.91x\n\n\n1.81x\n\n\n+0.10x\n\n\n1.91x\n\n\n1.90x\n\n\n+0.01x\n\n\n\n\nRevenue (US$m)\n\n\n721.0\n\n\n560.7\n\n\n+29%\n\n\n187.3\n\n\n183.5\n\n\n+2%\n\n\n\n\nAdjusted EBITDA (US$m)1\n\n\n369.9\n\n\n282.8\n\n\n+31%\n\n\n100.7\n\n\n95.4\n\n\n+6%\n\n\n\n\nAdjusted EBITDA margin1\n\n\n51%\n\n\n50%\n\n\n+1ppt\n\n\n54%\n\n\n52%\n\n\n+2ppt\n\n\n\n\nOperating profit (US$m)\n\n\n146.1\n\n\n80....