Helios Towers Plc · LSE:HTWS
Helios Towers — Q1 2026 Earnings Presentation
25 slides from Helios Towers's earnings presentation, May 7, 2026
Slide 1: Q1 2026 Results: Connecting People, Powering Growth
Q1 2026 RESULTS 7 MAY 2026 CONNECTING PEOPLE, POWERING GROWTH
Slide 2: Helios Towers team today
HELIOS TOWERS Q1 2026 RESULTS 2 Helios Towers team today Manjit Dhillon Tom Greenwood Chris Baker-Sams CFO & CEO Head of Investor Relations HT Oman Executive Chair & Strategic Finance
Slide 3: Investment Thesis
HELIOS TOWERS INVESTMENT THESIS World-class Multi-decade Robust business Disciplined and platform growth model flexible capital opportunity allocation
Slide 4: Agenda
1x AGENDA 01 Highlights 02 Financial results 03 Q&A 2x 3x
Slide 5: Highlights
Q1 2026 RESULTS 7 MAY 2026 HIGHLIGHTS
Slide 6: Highlights – strong Q1 and improved outlook
HELIOS TOWERS Q1 2026 RESULTS 6 Highlights – strong Q1 and improved outlook; tenancy pipeline supports a record year for roll out 01 02 03 04 Sustained structural Metronomic financial Further capital structure FY 26 guidance demand performance improvements upgraded • +1,406 YTD tenancy • +$16m YoY (
Slide 7: Resilient and robust business model underpins structural growth
HELIOS TOWERS Q1 2026 RESULTS 7 Resilient and robust business model underpins structural growth Over ten years of consistent Adj. EBITDA growth through volatile global events Adj. EBITDA1 (US$m) 515–530 +24% CAGR (Prior: 510–525) 471 509 421 370 241 283 178 205 227 105 146 54 FY 15 FY 16 FY 17 FY 18
Slide 8: Strong tenancy pipeline driven by mobile operator growth
HELIOS TOWERS Q1 2026 RESULTS 8 Strong tenancy pipeline driven by accelerating mobile operator growth investment across the region YoY revenue growth1 Record tenancy additions targeted (#) YoY organic tenancy growth (%) “Given the significant opportunity across +28% our markets, we have accelerated
Slide 9: IMPACT 2030 – Disciplined and flexible capital allocation framework
HELIOS TOWERS Q1 2026 RESULTS 9 IMPACT 2030 – Disciplined and flexible capital allocation framework Our capital allocation priorities: IMPACT 2030 Target1 Optimised organic Optimised organic Capital efficient investments 01 investments accretive to ROIC >$500m investments deliver highly accretive gr
Slide 10: Financial Results
Q1 2026 RESULTS 7 MAY 2026 FINANCIAL RESULTS
Slide 11: FY 26 guidance uplift driven by robust tenancy pipeline
HELIOS TOWERS Q1 2026 RESULTS 11 FY 26 guidance uplift driven by robust tenancy pipeline Tenancy additions Adj. EBITDA RFCF1 (#) (US$m) (US$m) >$15m annualised Adj. EBITDA >$15m annualised RFCF c.500 sites & c.500 colocations from FY 27 from FY 27 3,000– 510– 515– 210– 215– 3,500 525 530 225 230 5 5
Slide 12: Tenancy additions driven by mobile and data growth
HELIOS TOWERS Q1 2026 RESULTS 12 Tenancy additions driven by mobile and data growth, leading market positions and customer experience excellence Sites Tenancy additions Tenancy Ratio +4% +11% +0.1x 14,417 14,992 33,350 2.2x 2,557 2,654 30,074 2.1x 4,814 4,405 5,326 5,673 13,317 11,762 6,534 6,665 13
Slide 13: Revenue growth driven by tenancy additions
HELIOS TOWERS Q1 2026 RESULTS 13 Revenue growth driven by tenancy additions, underpinned by contracted revenues with multinational customers Revenue Revenue commentary (US$m) +12% • 68% revenue in hard currency, with 71% Adj. EBITDA in hard currency, further protected through CPI/ power escalators 2
Slide 14: Adj. EBITDA growth is highly correlated to tenancy additions
HELIOS TOWERS Q1 2026 RESULTS 14 Adj. EBITDA growth is highly correlated to tenancy additions and resilient to FX, CPI and power price movements Q1 26 YoY revenue walkthrough1, 2 Q1 26 YoY Adj. EBITDA walkthrough1 (US$m) (US$m) +12% +14% 13 0 2 1 (1) 4 5 18 229 127 204 111 +9% -1% +2% +2% +12% 0% +2
Slide 15: Well-invested platform supports high incremental returns from capex
HELIOS TOWERS Q1 2026 RESULTS 15 Well-invested platform supports high incremental returns from capex Disciplined capex deployment Capex overview 203 230– 260 • Q1 26 disc. capex of $38m, reflecting +1,406 tenancies (including +246 sites) 160– 70 190 • FY 26 guidance upgraded by $70m, reflecting +1,0
Slide 16: Balance sheet further strengthened through macro volatility
HELIOS TOWERS Q1 2026 RESULTS 16 Balance sheet further strengthened through macro volatility Debt maturity profile extended Strong balance sheet1 (US$m) Group facilities: Convertible Term Senior Oman 6.7% bond4 loan Notes Group cost of debt2 Key developments: facilities5 In April 2026, the Group rai
Slide 17: FY 26 guidance – meaningful progress towards IMPACT 2030 targets
HELIOS TOWERS Q1 2026 RESULTS 17 FY 26 guidance – meaningful progress towards IMPACT 2030 targets FY 25 FY 26 FY 26 guidance YoY actual prior guidance upgraded1 growth2 Tenancy additions +2,538 +2,000–2,500 +3,000–3,500 +9%–11% Adj. EBITDA $471m $510m–$525m $515m–$530m +9%–13% RFCF3 $208m $210m–$225
Slide 18: Key takeaways
18 Key takeaways Strong start to the year, with financial performance ahead of market expectations Highly resilient and proven business model, delivering sustained Adj. EBITDA growth and ROIC expansion despite macro volatility Strong FY 26 tenancy pipeline supporting record additions, translating in
Slide 19: Q&A
a Helios Ad Towers Q1 2026 RESULTS 7 MAY 2026 Q&A
Slide 20: Investor Relations
HELIOS TOWERS Q1 2026 RESULTS 20 INVESTOR RELATIONS Upcoming IR events IR Contact 17 June Barclays ESG Corporate Day (Virtual) H1 2026 Results & ‘Multi-decade growth 30 July runway’ deep-dive (London – In-person) Numis dbAccess European TMT 3 September Conference (London) JPM Emerging and Frontier M
Slide 21: Appendix
Q1 2026 RESULTS 7 MAY 2026 APPENDIX
Slide 22: Operational & Financial highlights
HELIOS TOWERS Q1 2026 RESULTS 22 Operational & Financial highlights YoY In US$m, unless otherwise stated Q1 26 Q1 25 Change Tenancies (#) 33,350 30,074 +11% Tenancy ratio (x) 2.22x 2.09x +0.13x Adj. EBITDA1 127 111 +14% Operating profit 82 77 +7% Recurring free cash flow2 10 17 -7 Return on invested
Slide 23: Market overview – macro & industry snapshot
HELIOS TOWERS Q1 2026 RESULTS 23 Market overview – macro & industry snapshot Mobile GB/month Unique mobile PoS Growth Towers held by Credit ratings # MNOs(1) Subs CAGR(2) CAGR(4) Credit ratings(6) Penetration(2) per Sub(3) (2025 – 2030) (2025 – 2030) MNOs(5) momentum(7) Tanzania 4 47% 2.8 5% 4% 0.7k
Slide 24: Q1 2026: sites and tenancies
HELIOS TOWERS Q1 2026 RESULTS 24 Q1 2026: sites and tenancies Population Sites Tenancies Tenancy ratio coverage Q1 Q4 Q1 Q1 Q4 Q1 Q1 Q4 Q1 Q1 YoY QoQ YoY QoQ YoY QoQ 25 25 26 25 25 26 25 25 26 26 Tanzania 4,252 4,255 4,288 36 33 10,648 11,164 11,569 921 405 2.50x 2.62x 2.70x 0.20x 0.08x 47m Senegal
Slide 25: Disclaimer
HELIOS TOWERS Q1 2026 RESULTS 25 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 m