Helios Towers Plc · LSE:HTWS
Helios Towers — Investor Day (May 2022)
157 slides from Helios Towers's investor day presentation, May 2022
Slide 1: Capital Markets Day 2022
Capital Markets Day 2022 May 2022 London, United Kingdom
Slide 2: Disclaimer
Disclaimer This presentation does not constitute an offering of securities or otherwise constitute an invitation or inducement to any person to underwrite, subscribe for or otherwise acquire or dispose of securities in Helios Towers plc (the "Company") or any other member of the Helios Towers group
Slide 3: Today's agenda
Today’s agenda Speaker: Time: Tom Greenwood Chief Executive Officer 1 13:00 Company overview and strategy Manjit Dhillon Chief Financial Officer 2 13:35 Our business model 10 minute break 14:05 Allan Fairbairn Director of Delivery and Business Excellence 3 14:15 Our proven execution capabilities Lar
Slide 4: Helios Towers Capital Markets Day 2022
Helios Towers Capital Markets Day 2022 4
Slide 5: Company overview and strategy
Company overview and strategy A uniquely positioned telecoms infrastructure platform, primed for growth and returns Tom Greenwood Chief Executive Officer Helios Towers Capital Markets Day 2022 5
Slide 6: Introduction
Introduction Joined HT in 2010 Appointed as Chief Executive Officer in April 2022 Previously held roles include Chief Financial Officer (2015-20) and Chief Tom Operating Officer (2020-22) Greenwood Chief Executive Leadership in all HT acquisitions, Officer country set-ups, operations, capital * rais
Slide 7: Our purpose, our mission
Our purpose is to drive the growth of mobile communication across Africa and the Middle East Our mission is to deliver exceptional customer service through our business excellence platform, and create sustainable value for our people, environment, customers, communities and investors Helios Towers C
Slide 8: Helios Towers investment proposition
Helios Towers investment proposition Uniquely positioned telecoms infrastructure platform Unparalleled structural growth Proven execution capability in complex markets Robust business model delivering high quality earnings and cash flows Sustainability at the heart of our operations Helios Towers Ca
Slide 9: Company overview
Company overview Helios Towers Capital Markets Day 2022 9
Slide 10: Our unique platform primed for strong growth and returns
COMPANY OVERVIEW OUR STORY & STRATEGY UNPARALLELED GROWTH Our unique platform primed for strong growth and returns We operate a geographically diverse suite of telecommunication towers, with a highly visible base of contracted revenues, and are uniquely positioned in the world’s fastest growing mobi
Slide 11: Our leading mix of high growth, diversification and execution
COMPANY OVERVIEW OUR STORY & STRATEGY UNPARALLELED GROWTH Our leading mix of high growth, deep diversification, strong market positioning and execution capability creates the optimum investment proposition Key global independent towercos Africa and Middle East independent towercos Adj. EBITDA CAGR:
Slide 12: Our core product and its operational leverage
COMPANY OVERVIEW OUR STORY & STRATEGY UNPARALLELED GROWTH Our core product and its operational leverage What we do Highly attractive returns Illustrative incremental site ROIC(1) Minimal incremental opex 32% Minimal incremental capex Additional Build and Incremental tenant margin: c.80% tenants add
Slide 13: Our impact
COMPANY OVERVIEW OUR STORY & STRATEGY UNPARALLELED GROWTH Our impact 46% People under the Number of Local employees in Direct and indirect Reduction in Tonnes of CO2e coverage footprint rural sites our operating employees(3) carbon emissions emitted of our towers companies per tenant(4) By 2030 By 2
Slide 14: Our Board has significant experience
COMPANY OVERVIEW OUR STORY & STRATEGY UNPARALLELED GROWTH Our Board has significant experience in towers, Africa, telecoms, power, industry and investment Sir Samuel Jonah Tom Greenwood Manjit Dhillon Chair Chief Executive Officer Chief Financial Officer Has served on numerous boards including Vodaf
Slide 15: Our global standard values and governance
COMPANY OVERVIEW OUR STORY & STRATEGY UNPARALLELED GROWTH Our global standard values and governance Values Key standards and accreditations Management systems aligned to Strong procedures and the highest international standards compliance protocols ISO 45001: Sites built to the highest Healt
Slide 16: Executive leadership team
COMPANY OVERVIEW OUR STORY & STRATEGY UNPARALLELED GROWTH Executive leadership Team has over 350 years of tower, power, telco and EM experience, built with localised leadership and dedicated ExCo, regional and functional experts Country Managing Directors Jerome Gautier Gwakisa Stadi Trish Kalombola
Slide 17: Our story to date and next phase
COMPANY OVERVIEW OUR STORY & STRATEGY UNPARALLELED GROWTH Our story to date and next phase Business phase: 1 2 3 4 2010–2015 2016–2020 2020–2022 2022–2026 Established initial Driving Business Doubled and diversified Sustainable value platform Excellence our platform creation Markets Adj. EBITDA marg
Slide 18: Our five-year Sustainable Business Strategy
Our five-year Sustainable Business Strategy Helios Towers Capital Markets Day 2022 18
Slide 19: Our five-year Sustainable Business Strategy
COMPANY OVERVIEW OUR STORY & STRATEGY UNPARALLELED GROWTH Our five-year Sustainable Business Strategy Our purpose is to drive the growth of mobile communication across Africa and the Middle East Our mission is to deliver exceptional customer service through our business excellence platform, and crea
Slide 20: Our five-year strategic target – 22 by 26
COMPANY OVERVIEW OUR STORY & STRATEGY UNPARALLELED GROWTH Our five-year strategic target – “22 by 26” Margin and scale growth driven by significant organic and inorganic pipelines 2022 2023 – 2026 2026 Longer-term: 60–65% Target Adj. EBITDA margin: 51–53% 1–2ppt p.a. 55–60% Adj. EBITDA margin We hav
Slide 21: Our seven-pillar customer service excellence proposition
COMPANY OVERVIEW OUR STORY & STRATEGY UNPARALLELED GROWTH Our seven-pillar customer service Customer Service excellence proposition Excellence 1 Power 2 3 Lower 4 Capital 5 Regulatory Speed Environment 6 Quality 7 uptime cost efficiency alignment 99.99% <24 hrs 30% $ -37% 4 ISOs power uptime; we c
Slide 22: Business excellence founded on Lean Six Sigma
COMPANY OVERVIEW OUR STORY & STRATEGY UNPARALLELED GROWTH Our people and business excellence is People and Business founded on Lean Six Sigma principles, and Excellence we deliver best-in-class customer service Downtime per tower per week “As a partner to Vodacom, HT has delivered best-in-class pass
Slide 23: Our sustainable value creation
COMPANY OVERVIEW OUR STORY & STRATEGY UNPARALLELED GROWTH Our sustainable value creation; Sustainable Value real impact and real returns Creation Our impact Our future Drives financial (2021) impact performance People under the coverage >139m >250m Digital footprint of our towers (>158m PF acquisiti
Slide 24: Unparalleled structural growth
Unparalleled structural growth Helios Towers Capital Markets Day 2022 24
Slide 25: Our markets are some of the fastest growing in the world
COMPANY OVERVIEW OUR STORY & STRATEGY UNPARALLELED GROWTH Our markets are some of the fastest growing in the world Dar es Salaam, TZ Fastest growing population(1) Fastest growing mobile market(2) 1.5 Total subs (bn) Data subs (bn) Asia 0.7 Africa & ME 1.5 +20% 1.0 +36% 1.0 0.5 0.9 1.0 4.6bn 0.5 2.8b
Slide 26: Structurally attractive markets
COMPANY OVERVIEW OUR STORY & STRATEGY UNPARALLELED GROWTH Structurally attractive markets Mobile penetration Mobile connections growth 4G & 5G connections growth (2021 unique subscriber penetration) (2021–2026 CAGR %) (2021–2026 CAGR %) 21% 86% 51% 4% 1% 2% Our markets (1) G7 (1) Our markets (3) G7
Slide 27: Our 10 markets forecast to require 25k more PoS
COMPANY OVERVIEW OUR STORY & STRATEGY UNPARALLELED GROWTH Our 10 markets are forecast to require 25k more PoS in the next 5 years – an 8% CAGR from today(5) Positive macro drivers: young, growing and urbanising populations(1) (2021–26) +41m (1) +30m (2) +67% (1) +4.1% (4) increase in population incr
Slide 28: Operators densify networks from 2G to 5G
COMPANY OVERVIEW OUR STORY & STRATEGY UNPARALLELED GROWTH HT will benefit as operators densify their networks to support evolution from 2G 3G 4G 5G Future Impact Assessment % of connections in our 10 markets(2) Tower Amendment New product Tech Typical tower configuration(1) count revenues deve
Slide 29: New technologies support new product development
COMPANY OVERVIEW OUR STORY & STRATEGY UNPARALLELED GROWTH New technologies (4G/5G) support new product development We have a selective approach to new product development, complementary to our core tower offering Symbols reflect relative alignment to HT’s existing customers, operations and earnings
Slide 30: Medium-term opportunity: expand our platform
COMPANY OVERVIEW OUR STORY & STRATEGY UNPARALLELED GROWTH Medium-term opportunity: expand our platform MNOs have been selling towers across Africa and the Middle East but outsourcing still significantly lags behind the rest of the world Mobile operators are selling their towers Significant number of
Slide 31: Proven M&A and integration capabilities
COMPANY OVERVIEW OUR STORY & STRATEGY UNPARALLELED GROWTH Proven M&A and integration capabilities across Africa and the Middle East History of successful deal execution HT is laser focused on Africa and the Middle East Public towercos Transactions Geographic Strategy in Africa and the Middle East 20
Slide 32: Africa and Middle East tower pipeline looks like US in 2000
COMPANY OVERVIEW OUR STORY & STRATEGY UNPARALLELED GROWTH Africa and the Middle East tower pipeline today looks similar to US in 2000 and Europe in 2015 US Europe Africa & the Middle East (2000) (2015) (2021) Total towers 65k 600k 403k % Owned by MNOs 54% 64% 76%(2) % Owned by MNOs 2015 <10% c.33%(1
Slide 33: Helios Towers investment proposition
Helios Towers investment proposition What you will hear from the team today Uniquely positioned telecoms Leading towerco focused solely on Africa and the Middle East Recent doubling of platform; primed for growth infrastructure platform New five-year strategy launching today Fastest growing
Slide 34: Our business model
Our business model Track record of driving growth and returns; underpinned by a robust and resilient business model Manjit Dhillon Chief Financial Officer Helios Towers Capital Markets Day 2022 34
Slide 35: Introduction
Introduction Joined HT in 2016 and appointed CFO in January 2021 Previously served as Interim CFO (2020) and Head of Corporate Finance and Investor Relations (2018–2020) Manjit Dhillon Responsible for Finance, Sustainability and IT functions, and Chief Financial has overseen raising c.$3 billion Off
Slide 36: Key takeaways
Key takeaways Disciplined capital deployment in new and existing markets driving sustainable value creation Proven track record of driving lease-up and returns on acquired portfolios and organic sites Enlarged platform primed to deliver our new five-year growth strategy Robust business model deliver
Slide 37: Doubling our platform in high-growth markets
ROBUST BUSINESS MODEL TRACK RECORD OF GROWTH AND RETURNS OUR NEW PLATFORM HIGH QUALITY CASH FLOWS Doubling our platform in high-growth markets Through five material acquisitions, we achieved our five-year targets laid out at IPO, of creating a stronger and more diverse towerco in the fastest growing
Slide 38: Helios Towers playbook
ROBUST BUSINESS MODEL TRACK RECORD OF GROWTH AND RETURNS OUR NEW PLATFORM HIGH QUALITY CASH FLOWS Helios Towers playbook Market entry by acquisition provides a springboard for growth and returns Acquire sites • Gain immediate scale 16 acquisitions across 10 markets, with Enter attractive high-growth
Slide 39: Leasing up drives returns and cash generation
ROBUST BUSINESS MODEL TRACK RECORD OF GROWTH AND RETURNS OUR NEW PLATFORM HIGH QUALITY CASH FLOWS Leasing up drives returns and cash generation Attractive site returns Towers are highly cash generative Illustrative incremental site ROIC(1) Illustrative cumulative tower cash flows(1) Minimal incremen
Slide 40: We select acquisitions in attractive, high-growth markets
ROBUST BUSINESS MODEL TRACK RECORD OF GROWTH AND RETURNS OUR NEW PLATFORM HIGH QUALITY CASH FLOWS We select acquisitions in attractive, high-growth markets What we look for: # markets: Emerging market 10 / 10 Population of >10m 7 / 10 3+ 3+ Operators 7 / 10 Possibility to achieve #1 independ
Slide 41: New markets provide similar lease-up opportunity
ROBUST BUSINESS MODEL TRACK RECORD OF GROWTH AND RETURNS OUR NEW PLATFORM HIGH QUALITY CASH FLOWS Our new markets provide a similar opportunity for tenancy lease-up as delivered in our established markets Established market acquisitions: driving acquired site New market acquisitions: expect similar
Slide 42: Track record of lease-up on acquired towers and organic sites
ROBUST BUSINESS MODEL TRACK RECORD OF GROWTH AND RETURNS OUR NEW PLATFORM HIGH QUALITY CASH FLOWS Track record of driving lease-up on acquired towers and organic sites Acquired portfolios: 2021 tenancy ratio by vintage Build-to-suits: 2021 tenancy ratio by vintage Average tenancy ratio expansion 0.1
Slide 43: Our model in action: Tanzania case study
ROBUST BUSINESS MODEL TRACK RECORD OF GROWTH AND RETURNS OUR NEW PLATFORM HIGH QUALITY CASH FLOWS Our model in action: Tanzania case study 4 acquisitions completed (2 large deals, 2 bolt-ons) Adj. EBITDA c.1,600 BTS constructed (2011 – 2021) Adj. EBITDA 2.3x tenancy ratio in 2021 (from 1.0x on entry
Slide 44: Broader platform, primed for lease-up and returns
ROBUST BUSINESS MODEL TRACK RECORD OF GROWTH AND RETURNS OUR NEW PLATFORM HIGH QUALITY CASH FLOWS Today: Broader platform, primed for lease-up and 25.0 driving returns Transformational period for the Company: Five key levers for driving growth and lease-up Adj. EBITDA margin 20.0 Tenancy ratio c. 24
Slide 45: Business model underpinned by contracted revenues
ROBUST BUSINESS MODEL TRACK RECORD OF GROWTH AND RETURNS OUR NEW PLATFORM HIGH QUALITY CASH FLOWS Business model underpinned by diversified and highly visible, contracted revenues Others Orange Contracted revenues Hard-currency Adj. EBITDA Customer diversification Geographic mix $5.3bn 72% 28% 10 ma
Slide 46: High quality contractual structure with blue-chip customers
High quality contractual structure with a diversified blue-chip customer base provides revenue visibility High quality contracts Diversified customer base(3) (Q1 22 PF revenues) Utilising the US towerco contract structure in our markets: Others 4% 2% Long term: B+/Ba3/BB- BBB-/Ba1/BBB- 5% • 10 – 15
Slide 47: Protected against FX, power prices and inflation
ROBUST BUSINESS MODEL TRACK RECORD OF GROWTH AND RETURNS OUR NEW PLATFORM HIGH QUALITY CASH FLOWS Structurally protected against movements in FX, power prices and inflation DRC OM SG CB GB TZ GH MD MW SA Group % Hard-currency EBITDA >40% >70% >70% 0% 72% 100% 100% 100% 100% 100% >40% FX Protected Do
Slide 48: Contracts hedge inflation and fuel price movements
ROBUST BUSINESS MODEL TRACK RECORD OF GROWTH AND RETURNS OUR NEW PLATFORM HIGH QUALITY CASH FLOWS Contracts provide effective hedge against inflation and fuel price movements Price movement Adj. EBITDA impact(1) Commentary Inflation and power price escalators provide an effective hedge against movem
Slide 49: How HT is protected against FX and cost inflation risk
ROBUST BUSINESS MODEL TRACK RECORD OF GROWTH AND RETURNS OUR NEW PLATFORM HIGH QUALITY CASH FLOWS How HT is protected against FX & cost inflation risk Illustration: 365 Days Case Study Timeline Day 1 Day 2 ... Day 30 ... Day 90 ... Day 365(2) Local Currency Local CPI / Power Local Currency Unit Econ
Slide 50: Earnings growth driven by tenancy additions
ROBUST BUSINESS MODEL TRACK RECORD OF GROWTH AND RETURNS OUR NEW PLATFORM HIGH QUALITY CASH FLOWS Earnings growth driven by tenancy additions and well protected from macro volatility R- Squared(1): R-Squared(1): Tenancy additions FX / Oil 274 264 Our Adjusted EBITDA is driven by tenancy 0.93 <0.06 2
Slide 51: 10 minute break
10 minute break Helios Towers Capital Markets Day 2022 51
Slide 52: Our proven execution capabilities
Our proven execution capabilities Delivering best-in-class service in complex markets Allan Fairbairn Director of Delivery and Business Excellence Lara Coady Director of Operations and Engineering Helios Towers Capital Markets Day 2022 52
Slide 53: Introduction
Introduction Allan Fairbairn Lara Coady Director of Delivery and Director of Operations Business Excellence and Engineering Joined HT in 2021, as Director of Operations Joined HT in 2016, and appointed Director and Technology of Operations and Engineering in 2022 Previously served as Head of Perform
Slide 54: Our operational highlights
Our operational highlights We bring global operating standards to 1 highly complex markets Creates value through enhancing revenue 2 opportunities and reducing cost 3 Consistent and strong tenancy growth delivered Clear plan in place to reduce our carbon intensity; 4 Net Zero ambition by 2040 Helios
Slide 55: Operating towers in Africa and Middle East requires unique skillset
UNIQUE CHALLENGES PROVEN EXECUTION CAPABILITY CARBON REDUCTION Operating towers in Africa and the Middle East requires a unique operational skillset Developed markets Africa and the Middle East In developed markets, towers In Africa and the Middle East, there are multiple challenges – are "plug and
Slide 56: Operating towers requires a unique operational skillset
UNIQUE CHALLENGES PROVEN EXECUTION CAPABILITY CARBON REDUCTION Operating towers in Africa and the Middle East requires a unique operational skillset Land size(1) Tarmac roads(2) Grid availability(3) 100% 100% 6.4 6.4 million km2 3.0 million km 24 hours 55% 18 hours 4.0 million km2 0.2 million km Our
Slide 57: Power challenges in Africa and the Middle East
UNIQUE CHALLENGES PROVEN EXECUTION CAPABILITY CARBON REDUCTION Power challenges in Africa and the Middle East Average grid Average grid Market Market hours per day(1) hours per day(1) 6 DRC 20 Gabon 9 Madagascar 22 Ghana 10 Congo B 23 Senegal 22 – 17 Malawi 24 South Africa(2) 19 Tanzania 24 Oman(3)
Slide 58: We utilise Lean Six Sigma for best-in-class operations
UNIQUE CHALLENGES PROVEN EXECUTION CAPABILITY CARBON REDUCTION We utilise Lean Six Sigma principles to deliver best-in-class operations What is Lean Six Sigma? What have we delivered with it? Lean Six Sigma (% staff trained in Orange or Black belt) • Invented in the Japanese automotive >1,000 indust
Slide 59: What our customers want, what we have delivered
UNIQUE CHALLENGES PROVEN EXECUTION CAPABILITY CARBON REDUCTION What our What we customers want have delivered Leading power uptime, even Power uptime in our markets; we enable consistent where grid connectivity is 99.99% and reliable mobile networks unreliable or non-existent Efficient rollout, to t
Slide 60: Streamlined Sales and Operations planning
UNIQUE CHALLENGES PROVEN EXECUTION CAPABILITY CARBON REDUCTION Streamlined Sales and Operations planning (S&OP) to deliver customers’ rollout Commercial Sales Delivery and Business Excellence Sales & Operations Planning Construction Operations Activity Sales cycle • Proactive early orders • Negotiat
Slide 61: Well-invested platform primed for growth
UNIQUE CHALLENGES PROVEN EXECUTION CAPABILITY CARBON REDUCTION Well-invested platform primed for growth Established five markets New & announced markets(1) 2.1x Tenancy ratio today 1.2x Tenancy ratio today Significant structural capacity, with Significant structural 4x(2) capacity to lease-up our as
Slide 62: Best power uptime and target further improvement
UNIQUE CHALLENGES PROVEN EXECUTION CAPABILITY CARBON REDUCTION We offer the regions' best power uptime and target further improvement Downtime per tower per week (Group blended average) $175m total revenue loss for MNOs 93% 93% across our markets for 92% every 1% of network 91% 92% downtime(1) 22m 0
Slide 63: How Lean Six Sigma drives continuous improvement
UNIQUE CHALLENGES PROVEN EXECUTION CAPABILITY CARBON REDUCTION How our Lean Six Sigma processes methodically drive continuous improvement Preventative Maintenance Focus Sites Incident Management Preventing Outages: Responding efficiently to issues: • Optimising maintenance cycles • Maintaining site
Slide 64: MNOs appreciate performance improvements after divesting towers
UNIQUE CHALLENGES PROVEN EXECUTION CAPABILITY CARBON REDUCTION MNOs appreciate the performance improvements after divesting their towers to Helios Towers Acquisition case studies (downtime per tower per week) Airtel Congo B portfolio (acquired 2015) Free Senegal portfolio (acquired 2021) 0:14:24 22m
Slide 65: 46% carbon reduction per tenant targeted by 2030
UNIQUE CHALLENGES PROVEN EXECUTION CAPABILITY CARBON REDUCTION 46% carbon reduction per tenant targeted by 2030 -7% reduction in carbon emissions per tenant YoY(1) -46% 11.2 reduction in carbon 10.4 emissions per tenant compared to 2020(2) Colocation growth tCO2e Carbon reduction programme 6.0 Carbo
Slide 66: Our pledged power investments to 2030
UNIQUE CHALLENGES PROVEN EXECUTION CAPABILITY CARBON REDUCTION Our pledged power investments to 2030 Project 100: $100m investment in carbon reduction between 2022–2030 2022–2026 2027–2030 Carbon Reduction Programme Carbon Reduction Innovation Detailed annual plan in place to Future investments, whi
Slide 67: Looking ahead to Net Zero by 2040
UNIQUE CHALLENGES PROVEN EXECUTION CAPABILITY CARBON REDUCTION Looking ahead to Net Zero by 2040 300k External enabling conditions in our markets 250k 200k Proliferation and Supportive policy Innovation in decarbonisation environment and technology of national grids carbon financing Building on our
Slide 68: Key takeaways
Key takeaways We have proven execution capabilities in 1 complex markets 2 Consistent and strong tenancy growth delivered We offer the region’s best power uptime and 3 continue to target improvement Clear plan in place to reduce our carbon intensity; 4 Net Zero ambition by 2040 Helios Towers Capital
Slide 69: Driving customer partnerships, real impact and real returns
Driving customer partnerships, real impact and real returns Sainesh Vallabh Regional CEO – Southern & Central Africa Helios Towers Capital Markets Day 2022 69
Slide 70: Introduction
Introduction Joined HT in August 2020 as Regional CEO Southern & Central Africa, with functional Sainesh responsibility for Group sales and Vallabh new products Regional CEO His position covers our Southern & Central African markets of DRC, Ghana, Congo B, Madagascar and South Africa Prior experienc
Slide 71: Market overview
Market overview Helios Towers Capital Markets Day 2022 71
Slide 72: Our markets and leadership team
MARKET OVERVIEW SALES AND NEW PRODUCT SOLUTIONS DRC CASE STUDY Our markets and leadership team Fritz Dzeklo MD HT Ghana & Regional Director Central Africa Marinus Gieselbach MD HT South Africa & Regional Director Southern Africa Colard Nkole 1 1 MD HT Congo B Ghana DRC Trish Kalombola Congo B Deputy
Slide 73: Southern & Central Africa macro and telecoms overview
MARKET OVERVIEW SALES AND NEW PRODUCT SOLUTIONS DRC CASE STUDY Southern & Central Africa macro and telecoms overview Southern & DRC GH CB SA MD Central Africa(5) Macro overview: Population(1) 114m 33m 6m 60m 28m 241m Population CAGR (21-26)(1) 3% 2% 2% 1% 4% 3% % population under 30(1) 72% 64% 67% 5
Slide 74: Southern & Central Africa asset characteristics
MARKET OVERVIEW SALES AND NEW PRODUCT SOLUTIONS DRC CASE STUDY Southern & Central Africa asset characteristics Southern & Q1 22 DRC GH CB SA MD Central Africa(3) Sites 2,105 1,060 471 335 488 4,459 Tenancy ratio 2.3x 2.0x 1.4x 1.7x 1.2x 2.1x Annualised revenues(4) ($m) 192 40 29 8 15 284 Annualised
Slide 75: Driving customer partnerships across the Group
Driving customer partnerships across the Group Our sales approach and new product solutions Helios Towers Capital Markets Day 2022 75
Slide 76: Proactive partnerships with our customers
MARKET OVERVIEW SALES AND NEW PRODUCT SOLUTIONS DRC CASE STUDY Proactive partnerships with our customers Proactive partnership Reactive delivery Passive delivery • Share site lists to sell colocations • Embedded in customer organisation • Our proactive approach: • Evaluate new builds • React to plan
Slide 77: Strategic sales approach
MARKET OVERVIEW SALES AND NEW PRODUCT SOLUTIONS DRC CASE STUDY Strategic sales approach People – Structurally aligned with our customers Process – utilising proven, best-in-class techniques Close relationship with customers at Group and Strategic sales approach utilising Miller Heiman to local level
Slide 78: GIS analysis to understand site value and drive lease-up
MARKET OVERVIEW SALES AND NEW PRODUCT SOLUTIONS DRC CASE STUDY We utilise GIS analysis to understand the value of sites and drive lease-up What is GIS analysis? Geographical Information System (“GIS”) is a platform used for proprietary analysis which leverages network infrastructure and demographic
Slide 79: Attractive site portfolios, ready for lease-up
MARKET OVERVIEW SALES AND NEW PRODUCT SOLUTIONS DRC CASE STUDY We have attractive site portfolios, ready for lease-up Unique asset base Urban / Rural split Tenancy split 16% 28% 37% 27% 57% 63% 72% Unique Capacity / Consolidation Urban Rural 1 Tenant 2 Tenants 3+ Tenants Our tower assets are in uniq
Slide 80: Early stages of 4G deployment
MARKET OVERVIEW SALES AND NEW PRODUCT SOLUTIONS DRC CASE STUDY Africa and the Middle East are at the early stages of 4G deployment Mobile technology mix across our 10 markets (2016 – 2026)(1) Today 2G 3G 4G 5G 31% 32% 27% 29% 5% 8% 18% 21% 1% 24% 2% 4% 8% 12% 16% 11% 15% 2016 2017 2018 2019 2020 202
Slide 81: New technologies support new product development
MARKET OVERVIEW SALES AND NEW PRODUCT SOLUTIONS DRC CASE STUDY New technologies (4G/5G) support new product development We have a selective approach to new product development, complementary to our core tower offering Symbols reflect relative alignment to HT’s existing customers, operations and earn
Slide 82: New product development example: outdoor DAS
MARKET OVERVIEW SALES AND NEW PRODUCT SOLUTIONS DRC CASE STUDY New product development example: outdoor DAS Case study highlights our focus on partnering with our MNOs to improve coverage, with financial characteristics comparable to towers Our oDAS solution Tanzania case study • 2x lamp post deploy
Slide 83: Real impact and real returns: A DRC case study
Real impact and real returns A DRC case study Helios Towers Capital Markets Day 2022 83
Slide 84: Our story in DRC highlights ability to lease-up assets
Our story in DRC highlights our ability to lease-up assets, driving growth and returns while delivering real impact in complex environments; a blueprint that is applied to all our other markets Helios Towers Capital Markets Day 2022 84
Slide 85: Driving growth, returns and impact in the DRC
MARKET OVERVIEW SALES AND NEW PRODUCT SOLUTIONS DRC CASE STUDY Driving growth, returns and impact in the DRC Over $500 million invested in DRC since entering the market in 2011 Adj. EBITDA INVEST IN ASSETS DRIVE GROWTH & RETURNS Adj. EBITDA Margin (%) 46% 57% CAGR +17% 180 HT DRC site count & tenanc
Slide 86: Underpenetrated mobile markets with structural growth
MARKET OVERVIEW SALES AND NEW PRODUCT SOLUTIONS DRC CASE STUDY Underpenetrated mobile markets with huge structural growth Low mobile penetration(1) Transition from 2G to 3G to 4G(1) Strong PoS growth forecast(2) 60% 80 +12% CAGR 70 50% 1% 47m people are 44% 13k not in a location to 60 4% receive cov
Slide 87: DRC is a vast market with infrastructure challenges
MARKET OVERVIEW SALES AND NEW PRODUCT SOLUTIONS DRC CASE STUDY DRC is a vast market with inherent infrastructure challenges Transportation infrastructure challenges Power infrastructure challenges(2) (Travel through the DRC requires multiple modes of transport) (% population connected to the grid) 1
Slide 88: Exceptional power uptime despite infrastructure challenges
MARKET OVERVIEW SALES AND NEW PRODUCT SOLUTIONS DRC CASE STUDY Despite the power infrastructure challenges, we deliver exceptional power uptime for our customers Delivering best-in-class reliability Investing in sources to deliver reliable power (Downtime per tower per week) (How we powered our site
Slide 89: Rolling out and maintaining sites across the vast country
MARKET OVERVIEW SALES AND NEW PRODUCT SOLUTIONS DRC CASE STUDY Despite the transportation challenges, we roll out and maintain sites effectively across the vast country 2018: A substantial backbone • Major investment in upgrading and constructing a microwave backbone network covering 1,800km +6m add
Slide 90: GIS analysis in practice: predicting rollout in the DRC
MARKET OVERVIEW SALES AND NEW PRODUCT SOLUTIONS DRC CASE STUDY GIS analysis in practice: predicting rollout in the DRC GIS cell split analysis – in practice MNO’s 2020 Y/E POS Helios Towers Capital Markets Day 2022 90
Slide 91: GIS analysis in practice: predicting rollout in the DRC
MARKET OVERVIEW SALES AND NEW PRODUCT SOLUTIONS DRC CASE STUDY GIS analysis in practice: predicting rollout in the DRC GIS cell split analysis – in practice 80% of rollout predicted by our GIS analysis in 2021 MNO’s 2020 Y/E POS MNO’s 2021 rollout Helios Towers Capital Markets Day 2022 91
Slide 92: Expanding mobile infrastructure across DRC
MARKET OVERVIEW SALES AND NEW PRODUCT SOLUTIONS DRC CASE STUDY Expanding mobile infrastructure across DRC 2015 Today 28 >45 million people covered million people by our towers covered by our towers Kinshasa to Goma is Goma Kinshasa 1.6k Goma the same distance as 4.8k London to Athens Kinshasa tenanc
Slide 93: Key takeaways
Key takeaways We have a systemised approach to sales, and partner with our 1 customers to drive mobile expansion Business Excellence is a key pillar of our strategy and we will continue 4 to invest in our people and partners to deliver Customer Service Macro, micro and industry Excellence indicators
Slide 94: Setting up our new markets for success
Setting up our new markets for success Philippe Loridon Regional CEO – Middle East, East & West Africa Helios Towers Capital Markets Day 2022 94
Slide 95: Introduction
Introduction Joined HT in December 2011 as CEO DRC Philippe Loridon Regional CEO Currently responsible for our Middle East, East & West Africa markets in addition to functional responsibility for new market integration Prior leadership positions across both of our largest established markets • CEO D
Slide 96: Market overview
Market overview Helios Towers Capital Markets Day 2022 96
Slide 97: Our markets and leadership team
MARKET OVERVIEW TZ CASE STUDY INTEGRATION Our markets and leadership team Ramsey Koola MD HT Oman & Regional Director ME & East Africa • Joined 2015, and held multiple leadership roles 1 Karim Ndiaye 1 MD HT Senegal & Regional Director of West Africa • Joined in 2021 and oversees operations in Seneg
Slide 98: Middle East, East & West Africa macro and telecoms characteristics
MARKET OVERVIEW TZ CASE STUDY INTEGRATION Middle East, East & West Africa macro and telecoms characteristics Middle East, TZ SG MW OM GB East & West Africa(5) Macro overview: Population(1) 56 16 18 4 3 98 Population CAGR (21-26)(1) 3% 3% 3% 2% 2% 3% % population under 30(1) 71% 70% 72% 47% 62% 63% G
Slide 99: Middle East, East & West Africa asset characteristics
MARKET OVERVIEW TZ CASE STUDY INTEGRATION Middle East, East & West Africa asset characteristics Middle East, Q1 22 TZ SG MW OM GB East & West Africa Sites 4,068 1,261 723 2,890 459 9,401 Tenancy ratio 2.2x 1.1x 1.5x 1.2x 1.0x 1.8x Annualised revenues(5) ($m) 186 38 23 (1) 59 (1) 22 (1) 328 Annualise
Slide 100: A Tanzania case study
How we create best-in- class, local telecoms infrastructure companies A Tanzania case study Helios Towers Capital Markets Day 2022 100
Slide 101: Building a platform for success
MARKET OVERVIEW TZ CASE STUDY INTEGRATION Building a platform for success A Tanzania case study Leading in Tanzania: INVEST IN ASSETS DRIVE GROWTH & RETURNS • Finding the right people and hiring locally • “One team, One business” initiated 2015 • Lean Six Sigma processes being instilled 3.0x across
Slide 102: Instilling business excellence in Tanzania
MARKET OVERVIEW TZ CASE STUDY INTEGRATION Instilling business excellence in Tanzania Delivering exceptional reliability Building talented local teams (Downtime per tower per week) 89 employees 14m 48s 28% trained in Lean Six Sigma 100% local employees 4m 51s 1m 27s 48s 35s 33s 26s >3,900 partners an
Slide 103: Integration
Integration Helios Towers Capital Markets Day 2022 103
Slide 104: Key learnings from developing Tanzania into a leading platform
MARKET OVERVIEW TZ CASE STUDY INTEGRATION Key learnings from developing Tanzania into a leading platform Senegal Madagascar Malawi Oman Gabon Strong operating capabilities (Hiring the right people and Key positions filled Ongoing investing in their development) Close integration with our partners In
Slide 105: Organisational structure and processes to replicate success
MARKET OVERVIEW TZ CASE STUDY INTEGRATION We have the organisational structure and processes in place that will replicate success in our new markets New regional structure in place Systemised integration process Regional Management Team, Regional Management and New Markets Team Days 0-20 21-40 41-60
Slide 106: Integration – Senegal case study
MARKET OVERVIEW TZ CASE STUDY INTEGRATION Integration – Senegal case study Leadership team in place New markets integration Karim Ndiaye Fatoumata Mbaye Leon-Paul Manya Philippe Loridon Senegal & Regional FD Helios Towers Senegal Okitanyenda Regional CEO – Middle Exec Director of West Africa Led: Di
Slide 107: Methodical and seamless integration ongoing
MARKET OVERVIEW TZ CASE STUDY INTEGRATION Methodical and seamless integration ongoing 100-day 200-day Closing / Acquired plan plan Market expected closing Local leadership sites integration integration date progress progress Karim Ndiaye 1 Senegal Closed: Q2 2021 Managing Director, 1,207(2) Senegal(
Slide 108: Key takeaways
Key takeaways Strong market positions with significant growth 1 ahead Business excellence, and Lean Six Sigma 2 principles, embedded through the organisation Seamless, agile and replicable integration 3 approach - right people, right process = low risk Foundations set pre-closing to deliver tenancy
Slide 109: 10 minute break
10 minute break Helios Towers Capital Markets Day 2022 109
Slide 110: Driving impact
Driving impact Sima Varsani Group Head of Sustainability Helios Towers Capital Markets Day 2022 110
Slide 111: Helios Towers Capital Markets Day 2022
Helios Towers Capital Markets Day 2022 111
Slide 112: Introduction
Introduction Joined HT in May 2020 Over 10 years of experience in sustainability at GSMA, Sainsbury’s and Vodafone Driving positive impact by embedding sustainability throughout the business Sima Varsani and leading the Group's Sustainable Business reporting Group Head of Sustainability Helios Tower
Slide 113: Maximising our impact
MOBILE DRIVES DEVELOPMENT WE SUPPORT MOBILE WE DRIVE TO DO MORE OUR AMBITION Maximising our impact Building on strong foundations and our sustainable business model to deliver stakeholder value 2021 Creating value for our stakeholders 2010 Our people 97% of employees in our operating companies are l
Slide 114: Delivering on the Sustainable Development Goals
MOBILE DRIVES DEVELOPMENT WE SUPPORT MOBILE WE DRIVE TO DO MORE OUR AMBITION Delivering on the Sustainable Development Goals The mobile industry Our contribution Mobile technology supports all 17 SDGs – and its As well as enabling mobile technology, impact on all Goals is increasing every year(1) we
Slide 115: The mobile economy in Africa and the Middle East
MOBILE DRIVES DEVELOPMENT WE SUPPORT MOBILE WE DRIVE TO DO MORE OUR AMBITION The mobile economy in Africa and the Middle East Mobile industry contribution to GDP 2020(1,3) 2019(2) $132bn $244bn 8% 5% 6% of Sub-Saharan of global GDP of MENA GDP African GDP Public funding and employment(1,3) 2020 – Su
Slide 116: Enabling faster expansion of mobile coverage
MOBILE DRIVES DEVELOPMENT WE SUPPORT MOBILE WE DRIVE TO DO MORE OUR AMBITION Enabling faster expansion of mobile coverage 2015 2021 Today – pro forma acquisitions 78m 139m >158m people under the coverage people under the coverage people under the coverage footprint of our towers footprint of our tow
Slide 117: Digital inclusion and socio-economic development
MOBILE DRIVES DEVELOPMENT WE SUPPORT MOBILE WE DRIVE TO DO MORE OUR AMBITION Digital inclusion and socio-economic development Access to electricity Digital inclusion Developing skills 47% of the population in Sub-Saharan Africa has access to electricity 53% of the population in Sub-Saharan Africa do
Slide 118: Our five-year Sustainable Business Strategy
MOBILE DRIVES DEVELOPMENT WE SUPPORT MOBILE WE DRIVE TO DO MORE OUR AMBITION Our five-year Sustainable Business Strategy Our purpose is to drive the growth of mobile communication across Africa and the Middle East Our mission is to deliver exceptional customer service through our business excellence
Slide 119: Our new KPIs and targets
MOBILE DRIVES DEVELOPMENT WE SUPPORT MOBILE WE DRIVE TO DO MORE OUR AMBITION Our new KPIs and targets What we want to KPI 2021 Future(1) achieve Customer Downtime per tower per service Reliable mobile coverage 1:10 < 30 seconds week excellence % Staff Lean Six Sigma Developing talent 31% 70% trained
Slide 120: Committed to reporting and transparency
MOBILE DRIVES DEVELOPMENT WE SUPPORT MOBILE WE DRIVE TO DO MORE OUR AMBITION Committed to reporting and transparency Reporting Transparency initiatives and ratings Sustainable business reports Scored B-, 2021 Gold award, Jul 21, ESG Risk Rating: 23.3 Medium Risk, Jan 21 2020 2021 Informed by best pr
Slide 121: Key takeaways
Key takeaways 1 Mobile drives socio-economic development Inherently sustainable business model; we enable 2 mobile operators to roll out more efficiently Sustainable business strategy designed to create 3 value for all stakeholders Continued commitment to the highest of reporting 4 and transparency
Slide 122: Our financials and guidance
Our financials and guidance Manjit Dhillon Chief Financial Officer Helios Towers Capital Markets Day 2022 122
Slide 123: Q1 recap
Q1 recap Helios Towers Capital Markets Day 2022 123
Slide 124: Q1 2022: Highlights
Q1 RECAP DRIVING RETURNS BALANCE SHEET GUIDANCE Q1 2022: Highlights Seasonally strong tenancy additions and Q1 financial performance in-line with expectations 1 2 3 4 CONSISTENT AND STRONG CONTINUED ROBUST FINANCIAL FY 2022 GUIDANCE ORGANIC TENANCY TRANSFORMATION PERFORMANCE REITERATED GROWTH THROUG
Slide 125: Q1 2022: Strong growth driven by organic and inorganic expansion
Q1 RECAP DRIVING RETURNS BALANCE SHEET GUIDANCE Q1 2022: Strong growth driven by organic and inorganic expansion Tenancies Adj. EBITDA Portfolio free cash flow(1) (#) (US$m) (US$m) Tenancy ratio Adj. EBITDA Margin Cash conversion(2) 2.13x 1.96x 1.92x 55% 54% 52% 77% 70% 72%(3) 191 20,233 274 174 18,
Slide 126: 2022 Adj. EBITDA margin guidance
Q1 RECAP DRIVING RETURNS BALANCE SHEET GUIDANCE Our 2022 Adj. EBITDA margin guidance reflects acquisitions and SG&A growth investments Adj. EBITDA margin (%) Final investment required to scale platform for doubling of sites and markets (7k to 14k sites and 5 to 10 markets) (1%) (1%) 0% 54% 52% 52% 2
Slide 127: SG&A investment will be leveraged on expanded platform
Q1 RECAP DRIVING RETURNS BALANCE SHEET GUIDANCE SG&A investment will be leveraged on expanded platform Corporate SG&A per site ($k) SG&A per site in line with 2019 levels Commentary 3.1 3.0 2.4 2.4 • In preparation for our expansion from five to ten markets and doubling of our platform, we have expa
Slide 128: Driving incremental returns on our enlarged platform
Driving incremental returns on our enlarged platform Helios Towers Capital Markets Day 2022 128
Slide 129: Broader, stronger platform primed for growth
Q1 RECAP DRIVING RETURNS BALANCE SHEET GUIDANCE Broader, stronger platform primed for growth Significant portfolio expansion dilutes near-term ratios; targeted tenancy ratio expansion will drive margin and ROIC expansion in the medium term Recent Q122: Q122: PF vs excl. acquisitions and platform Our
Slide 130: Clear path to drive cash flow returns through operational leverage
Q1 RECAP DRIVING RETURNS BALANCE SHEET GUIDANCE Clear path to drive cash flow returns through operational leverage on our enlarged platform • Unparalleled structural growth 25k PoS forecast across our 10 markets Lease-up • Uniquely positioned platform Leading towerco in 8 of our 10 markets with mult
Slide 131: Recurring cash flows from Adj. EBITDA growth and operational leverage
Q1 RECAP DRIVING RETURNS BALANCE SHEET GUIDANCE Recurring cash flows driven by growth in Adj. EBITDA and operational leverage on our fixed cost base Illustrative Portfolio Free Cash Flow (“PFCF”) based on Q1 22 annualised Adjusted EBITDA 321 c.$3k per site 65 – 70% per annum cash flow conversion c.$
Slide 132: Highly selective and disciplined capital deployment
Q1 RECAP DRIVING RETURNS BALANCE SHEET GUIDANCE Highly selective and disciplined capital deployment Investment priority Considerations • Drive colocations on portfolio (lease-up) o Newly established platform with structural capacity for 3-4 tenants on average and multiple MNOs in our markets Reinves
Slide 133: Expanded platform primed to drive return on invested capital
Q1 RECAP DRIVING RETURNS BALANCE SHEET GUIDANCE Expanded platform primed to drive return on invested capital Transformational period, with >$1bn invested; capital intensity decreasing thereafter Discretionary capex (2016 – 2022) Transformational period through acquisitions 800 2016 2020 Var. 373 Ten
Slide 134: Cash flow focus rather than accounting net income
Q1 RECAP DRIVING RETURNS BALANCE SHEET GUIDANCE Cash flow focus rather than accounting net income Net Book Value (NBV) of a Tower over the expected life Illustrative cumulative tower cash flows 1x 2x 3x 1 2 3 4 5 6 7 8 9 10 11 12 13 >40 years expected tower life Average cash payback c.5 years for a
Slide 135: Balance sheet
Balance sheet Helios Towers Capital Markets Day 2022 135
Slide 136: Fully funded for near-term organic and announced acquisitions
Q1 RECAP DRIVING RETURNS BALANCE SHEET GUIDANCE Fully funded for near-term organic and announced acquisitions Debt-raising approach Blended cost of debt • 3.5 – 4.5x targeted (3.7x as of Q1, and expect to be c.4.5x following all acquisitions closing) Prudent net leverage • Company delevers c.0.5x pe
Slide 137: Medium-term guidance
Medium-term guidance Helios Towers Capital Markets Day 2022 137
Slide 138: Simple business model
Q1 RECAP DRIVING RETURNS BALANCE SHEET GUIDANCE Simple business model B/F Sites Site rollout Tenancies B/F Colocations Colocation rollout Typical seasonality H1: 25% new rollout H2: 75% new rollout Revenues Average tenancies in the period Lease rate per tenant Adj. EBITDA margin 1-2ppt p.a. increase
Slide 139: Medium-term financial targets on our enlarged platform 1/3
Q1 RECAP DRIVING RETURNS BALANCE SHEET GUIDANCE Medium-term financial targets on our enlarged platform 1/3 2022 guidance Medium-term guidance Seven operational markets at year end Enlarged platform • 1,200–1,700 organic tenancies, of which 60% sites and 40% colocations • 1,600–2,100 organic tenancie
Slide 140: Discretionary capex
Q1 RECAP DRIVING RETURNS BALANCE SHEET GUIDANCE Medium-term financial targets on our enlarged platform 2/3 2022 guidance Medium-term guidance (enlarged platform) • c.$10k per new colocation • c.$10k per new colocation increasing in line with US inflation Colocations • c.$6m colocation capex • c.$125
Slide 141: Medium-term financial targets on our enlarged platform 3/3
Q1 RECAP DRIVING RETURNS BALANCE SHEET GUIDANCE Medium-term financial targets on our enlarged platform 3/3 Medium-term guidance (enlarged platform) • Interest costs today are c.$95m, reflecting c.$85m external costs and $10m shareholder loan withholding tax Interest costs • Expected to increase to c
Slide 142: Tenancy additions tracking in-line with financial guidance
Q1 RECAP DRIVING RETURNS BALANCE SHEET GUIDANCE Seasonally strong tenancy additions and tracking in-line with financial guidance Medium term Q1 2022 FY 2022 guidance (enlarged portfolio) Organic tenancy additions +359 organic tenancies of which, c.64% new sites +1,200 – 1,700 (mid-point: +8%) of w
Slide 143: 22 by 2026 – financial considerations
Q1 RECAP DRIVING RETURNS BALANCE SHEET GUIDANCE 22 by 2026 – financial considerations Commentary • Five-year strategy expected to be funded through combination of cash on balance sheet and debt capacity • c.3-4k sites embedded into our organic medium-term guidance, with the remainder to be targeted
Slide 144: Key takeaways
Key takeaways Platform fully invested for growth in new 1 and existing markets Disciplined approach to capital allocation 2 with focus on accretive growth investments Fully funded for near-term organic and 3 announced acquisitions “22 by 26” strategy is expected to be 4 funded exclusively through ca
Slide 145: Investment thesis and closing remarks
Investment thesis and closing remarks Tom Greenwood Chief Executive Officer Helios Towers Capital Markets Day 2022 145
Slide 146: Our purpose, our mission
Our purpose is to drive the growth of mobile communication across Africa and the Middle East Our mission is to deliver exceptional customer service through our business excellence platform, and create sustainable value for our people, environment, customers, communities and investors Helios Towers C
Slide 147: Helios Towers investment proposition
Helios Towers investment proposition What you heard from the team today Uniquely positioned telecoms Leading towerco focused solely on Africa and the Middle East Recent doubling of platform; primed for growth infrastructure platform New five-year strategy launching today Fastest growing mobi
Slide 148: Appendix
Appendix Helios Towers Capital Markets Day 2022 148
Slide 149: Leading positions in structurally attractive markets
Leading positions in structurally attractive markets Our markets are structurally supportive of high growth and lease-up HT “established” markets HT “new” markets TZ DRC GH CB SA SG MD MW OM(1) GB(1) Group(4) PoS CAGR 12% 10% 8% 7% 7% 8% 9% 8% (%)(2) 5% 3% (2021-26) 1% Tanzania DRC Ghana Congo B Sou
Slide 150: Macro overview
Macro overview Population growth Population additions GDP growth CAGR(3) Population(1) % population under 30(1) CAGR(2) (2021 – 2026)(2) (2021 – 2026) (2021 – 2026) Tanzania 56.3m 68% +9.4m 3% 5% DRC 114.3m 72% +14.8m 3% 5% Ghana 33.0m 64% +3.4m 2% 4% Senegal 16.4m 70% +2.3m 3% 6% Congo B 5.7m 67% +
Slide 151: Mobile industry overview
Mobile industry overview Mobile Unique connections Mobile 2G 3G 4G 5G subscribers(2) CAGR (2021 – penetration(2) connections(2) connections(2) connections(2) connections(2) 2026)(2) Tanzania 26.3m 5% 42% 32% 58% 10% - DRC 37.2m 6% 40% 49% 47% 4% - Ghana 18.0m 3% 56% 16% 71% 13% - Senegal 9.2m 4% 53%
Slide 152: HT position overview
HT position overview PoS PoS Growth Towers held by Sites Tenancy ratio # of MNOs Leading independent TowerCo Additions(3) CAGR(4) MNOs(3) (2021 – 2026) (2021 – 2026) Tanzania 4,068 2.2x 4+ 1 0.6k 6.5k 8% DRC 2,105 2.3x 4 1 1.3k 5.7k 12% Ghana 1,060 2.0x 3 0.4k 2.7k 5% Senegal 1,261 1.1x 3 1 2.7k 1.8
Slide 153: LTIP and annual bonus
LTIP and annual bonus LTIP Annual bonus Adj. EBITDA(2) / Relative Portfolio free Strategic Network International ROIC Adj. EBITDA share TSR(1) cash flow(2) projects performance standards Weighting 33.3% 33.3% 33.3% 50% 30% 7.5% 7.5% 5% Purpose Measure of Measure of Measure of Measure of Measures the
Slide 154: Financial measures
Financial measures is defined by management as loss before tax for the year, adjusted for finance costs, other gains and losses interest receivable, less on disposal of property, plat and equipment, amortisation of intangible assets, depreciation and impairments of property, plant and equipment, dep
Slide 155: Glossary and definitions (1/3)
Glossary and definitions (1/3) 2G means the second-generation cellular telecommunications network commercially launched on the GSM and CDMA standards means the third-generation cellular telecommunications networks that allow simultaneous use of voice and data services, and provide high-speed data 3G
Slide 156: Glossary and definitions (2/3)
Glossary and definitions (2/3) Free Senegal means Saga Africa Holdings Limited SA (which operates under the ‘Free’ trademark) Gabon means Gabonese Republic Ghana means Republic of Ghana Group means Helios Towers, Ltd (‘HTL’) and its subsidiaries prior to 17 October 2019, and Helios Towers plc and it
Slide 157: Glossary and definitions (3/3)
Glossary and definitions (3/3) Our established markets refers to Tanzania, DRC, Congo Brazzaville, Ghana and South Africa Our markets / markets in refers to Tanzania, DRC, Congo Brazzaville, Ghana, South Africa, Senegal, Madagascar and Malawi which we operate means points of service, which is an MNO