REG - Helios Towers PLC - Helios Towers 3rd Quarter Results
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RNS Number : 3885G Helios Towers PLC 06 November 2025
This announcement contains inside information for the purpose of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
(UK MAR)
Unaudited trading update for the nine months and quarter ended 30 September
2025
+11% year-on-year Adj. EBITDA growth
+US$70m year-on-year free cash flow expansion
FY 2025 guidance tightened upwards
London, 6 November 2025: Helios Towers plc ("Helios Towers", "the Group" or
"the Company"), the independent
mobile tower company, today announces results for the nine months to 30
September 2025 ("YTD 2025").
YTD 2025 YTD 2024 Change Q3 2025 Q2 2025 Change
Sites 14,621 14,247 +3% 14,621 14,515 +1%
Tenancies 31,531 29,021 +9% 31,531 30,617 +3%
Tenancy ratio 2.16x 2.04x +0.12x 2.16x 2.11x +0.05x
Revenue (US$m) 634.5 584.7 +9% 216.2 214.5 +1%
Adjusted EBITDA (US$m)(1) 345.6 311.9 +11% 120.1 114.4 +5%
Adjusted EBITDA margin(1) 54% 53% +1ppt 56% 54% +2ppt
Operating profit (US$m) 211.2 190.6 +11% 78.1 56.5 +38%
ROIC(1) 13.8% 13.0% +0.8ppt 13.8% 13.6% +0.2ppt
Free cash flow (US$m)(1) 48.7 -21.1 +69.8 18.8 28.4 -9.6
Cash generated from operations (US$m) 301.4 243.2 +24% 85.4 129.0 -34%
Net debt (US$m)(1) 1,720.5 1,790.8 -4% 1,720.5 1,719.1 +0%
Net leverage(1,2) 3.6x 4.2x -0.6x 3.6x 3.8x -0.2x
1 Alternative Performance Measures are described in our defined terms and
conventions.
2 Calculated as per the Senior Notes definition of net debt divided by
annualised Adjusted EBITDA.
Tom Greenwood, Chief Executive Officer, said:
"I am delighted with our performance so far in 2025 and excited about what
lies ahead. Our structurally high-growth markets, coupled with our relentless
focus on customer experience excellence, have driven continued tenancy growth
and an expansion in tenancy ratio - approaching our 2026 target of 2.2x
tenants per site more than a year early.
This has translated into robust financial performance year-to-date, with
double-digit Adj. EBITDA growth and a US$70 million expansion in free cash
flow. As a result, we have tightened upwards our full-year expectations for
tenancies, Adj. EBITDA, and free cash flow.
Furthermore, we are now entering our next strategic phase - IMPACT 2030 -
where we are targeting continued strong organic growth and returning, through
share buybacks and dividends, more than US$400 million to investors through to
2030. We begin that journey today, with the launch of a US$75 million share
buyback program running through to the end of 2026.
At our Capital Markets Day this afternoon, we'll unveil IMPACT 2030 in more
detail and outline an exciting, ambitious vision for the next five years and
beyond."
Financial highlights
Strong financial performance driven by tenancy growth, underpinned by a base
of contracted revenues that feature CPI and power price protections
· YTD 2025 revenue and Adj. EBITDA increased by 9% and 11%
year-on-year respectively, driven by strong tenancy growth
· YTD 2025 Adj. EBITDA margin increased 1ppt year-on-year to 54%
(YTD 2024: 53%), driven by margin-accretive tenancy ratio expansion
· YTD 2025 operating profit increased by 11% year-on-year to
US$211.2m (YTD 2024: US$190.6m), driven by the increase in Adj. EBITDA growth,
partially offset by higher depreciation
· Free cash flow increased by US$69.8m year-on-year to US$48.7m
principally driven by Adj. EBITDA expansion and lower working capital and
discretionary capex
· Net leverage decreased by 0.6x year-on-year to 3.6x (Q3 2024:
4.2x) driven by Adj. EBITDA growth and acceleration of free cash flow
generation
· Business underpinned by future contracted revenues of US$5.5bn
(Q3 2024: US$5.3bn), of which 99% is from leading global and regional mobile
operators, with an average remaining initial life of 6.7 years (Q3 2024: 7.1
years)
Operational highlights
Structurally high-growth markets, leading market positions and customer
experience excellence supporting strong and consistent tenancy growth
· Sites increased by 374 year-on-year to 14,621 (Q3 2024: 14,247)
o Increased by 106 quarter-on-quarter
o Increased by 296 year-to-date
· Tenancies increased by 2,510 year-on-year to 31,531 (Q3 2024:
29,021)
o Increased by 914 quarter-on-quarter
o Increased by 2,125 year-to-date
· Tenancy ratio increased by 0.12x year-on-year to 2.16x (Q3 2024:
2.04x)
o Increased by 0.05x quarter-on-quarter
o Increased by 0.11x year-to-date
Outlook and guidance(1)
· The Group has tightened upwards its FY 2025 guidance:
o c.2,500 tenancy additions (prior: 2,000 - 2,500)
o Adj. EBITDA of c.US$470m (prior: US$460m - US$470m)
o Capital expenditure narrowed to US$160m - US$180m (prior: US$150m -
US$180m)
§ Of which US$110m - US$130m and US$50m is expected to be discretionary and
non-discretionary(2) respectively
o Free cash flow(3) to exceed US$60m (prior: US$40m - US$60m)
o Net leverage unchanged at c.3.5x
(1 ) Guidance assumes the Group continues to apply the same accounting
policies.
(2 ) Non-discretionary includes maintenance and corporate capex.
(3 ) Implied recurring free cash flow guidance is >$170m (reflecting
>$60m free cash flow plus $110m-$130m discretionary capex).
Helios Towers' will be hosting an in-person and virtual Capital Markets Day
this afternoon at 14:00 GMT. You can pre-register and access the event using
the link below:
Registration Link - Helios Towers - Capital Markets Day 2025
(https://stream.brrmedia.co.uk/broadcast/68b18c0b12b902001256dd2e)
Upcoming Conferences and Events
· Morgan Stanley TMT conference - Barcelona, 12-14 November
2025
· JPM Telecoms Towers Call Series - Virtual, 12 December 2025
· Bank of America SMID C-Suite conference - London, 15
January 2026
· Deutsche Numis UK&I conference - London, 21 January
2026
For further information go to:
www.heliostowers.com (http://www.heliostowers.com)
Investor Relations
Chris Baker-Sams - Head of Strategic Finance and Investor Relations
+44 (0)782 511 2288
investorrelations@heliostowers.com (mailto:investorrelations@heliostowers.com)
Media relations
Andy Rivett-Carnac
Headland
+44 (0)796 899 7365
HeliosTowers@headlandconsultancy.com
(mailto:HeliosTowers@headlandconsultancy.com)
Joe Hughes
Headland
+44 (0)731 137 0016
HeliosTowers@headlandconsultancy.com
(mailto:HeliosTowers@headlandconsultancy.com)
For the purposes of MAR, the person responsible for making this announcement
is Paul Barrett, General Counsel and Company Secretary.
About Helios Towers
· Helios Towers is a leading independent mobile tower company
connecting people and powering growth across Africa and the Middle East. We
deliver world-class operations at nearly 15,000 mobile tower sites across nine
countries in Africa and the Middle East - the fastest growing region globally
for mobile services - providing mission critical infrastructure and power
services to leading mobile network operators ("MNOs").
· Our pioneering approach enables colocation - the sharing of
telecom tower sites - by hosting multiple MNOs on individual sites, creating
benefits in the performance quality, the environmental impact, and the cost of
rolling out and running mobile networks in our markets.
· Helios Towers' business excellence methodology focuses on
delivering world-class performance for its customers - centred around the
development and upskilling of its people. We foster a culture of learning and
continuous improvement to deliver global standards in processes and
innovation, which makes us the partner of choice for all the region's leading
MNOs.
· As one of the largest and fastest-growing FTSE-listed companies
focused on operating in Africa and the Middle East, Helios Towers' disciplined
approach to capital allocation, long-term partnerships with leading MNOs and
its operational capabilities deliver resilient performance that is reshaping
digital connectivity in the region and catalysing investment that is essential
to unlocking its human and economic potential.
Alternative Performance Measures
The Group has presented a number of Alternative Performance Measures ("APMs"),
which are used in addition to IFRS statutory performance measures. The Group
believes that these APMs, which are not considered to be a substitute for or
superior to IFRS measures, provide stakeholders with additional helpful
information on the performance of the business. These APMs are consistent with
how the business performance is planned and reported within the internal
management reporting to the Board. Profit/(loss) before tax, gross profit,
non-current and current loans and long-term and short-term lease liabilities
are the equivalent statutory measures (see 'Certain defined terms and
conventions'). For more information on the Group's Alternative Performance
Measures, see the Group's Annual report for the year ended 31 December 2024,
published on the Group's website. Reconciliations of APMs to the equivalent
statutory measure are also included in our half-year financial report.
Financial and operating metrics
Key metrics
For the nine months ended 30 September:
Group Middle East
& North Africa(3) East & West
Africa(4) Central & Southern Africa(5)
2025 2024 2025 2024 2025 2024 2025 2024
US$m US$m US$m US$m US$m US$m US$m US$m
Sites at period end 14,621 14,247 2,615 2,547 6,539 6,484 5,467 5,216
Tenancies at period end 31,531 29,021 4,493 4,132 14,452 13,512 12,586 11,377
Tenancy ratio at period end 2.16x 2.04x 1.72x 1.62x 2.21x 2.08x 2.30x 2.18x
Revenue for the period 634.5 584.7 55.5 51.0 253.8 238.4 325.2 295.3
Adjusted gross margin(1) 66% 65% 82% 81% 74% 69% 58% 59%
Adjusted EBITDA for the period 345.6 311.9 40.6 36.8 174.2 152.2 162.5 150.0
Adjusted EBITDA Margin(2) for the period 54% 53% 73% 72% 69% 64% 50% 51%
1 Adjusted gross margin means gross profit, adding back site depreciation,
divided by revenue.
2 Group Adjusted EBITDA for the period includes corporate costs of
US$31.7million (2024: US$27.1 million).
3 Middle East & North Africa segment reflects the Company's operations in
Oman.
4 East & West Africa segment reflects the Company's operations in
Tanzania, Senegal and Malawi.
5 Central & Southern Africa segment reflects the Company's operations in
DRC, Congo Brazzaville, South Africa, Ghana and Madagascar.
Total tenancies as at 30 September
Middle East & North Africa East & West Africa
Group Oman Tanzania Senegal Malawi
2025 2024 2025 2024 2025 2024 2025 2024 2025 2024
Standard colocation tenants 12,761 11,917 1,232 1,173 5,436 5,085 157 124 605 573
Amendment colocation tenants 4,149 2,857 646 412 1,323 1,066 106 46 286 134
Total colocation tenants 16,910 14,774 1,878 1,585 6,759 6,151 263 170 891 707
Total sites 14,621 14,247 2,615 2,547 4,251 4,207 1,464 1,459 824 818
Total tenancies 31,531 29,021 4,493 4,132 11,010 10,358 1,727 1,629 1,715 1,525
Tenancy ratio 2.16x 2.04x 1.72x 1.62x 2.59x 2.46x 1.18x 1.12x 2.08x 1.86x
Central & Southern Africa
DRC Congo Brazzaville Ghana South Africa Madagascar
2025 2024 2025 2024 2025 2024 2025 2024 2025 2024
Standard colocation tenants 3,736 3,417 193 194 978 949 264 249 160 153
Amendment colocation tenants 893 554 188 67 535 441 114 105 58 32
Total colocation tenants 4,629 3,971 381 261 1,513 1,390 378 354 218 185
Total sites 2,751 2,596 554 550 1,100 1,098 385 383 677 589
Total tenancies 7,380 6,567 935 811 2,613 2,488 763 737 895 774
Tenancy ratio 2.68x 2.53x 1.69x 1.47x 2.38x 2.27x 1.98x 1.92x 1.32x 1.31x
Revenue
Revenue increased by 9% to US$634.5m in the 9-month period ended 30 September
2025 (YTD 2024: US$584.7m). The increase was largely driven by the growth in
total tenancies from 29,021 as of 30 September 2024 to 31,531 as of 30
September 2025, particularly in DRC, Tanzania and Oman.
For the period ended 30 September 2025, 99% of revenues were from
multinational MNOs (YTD 2024: 98%) and 67% (YTD 2024: 68%) were denominated in
hard currency, being either in USD, XAF/XOF (both of which are pegged to the
Euro) or OMR (which is pegged to the US Dollar).
Contracted revenue
The following table provides our total undiscounted contracted revenue by
region as of 30 September 2025 for each of the periods from 2025 to 2029, with
local currency amounts converted at the applicable average rate for US Dollars
for the period ended 30 September 2025 held constant. Our contracted revenue
calculation for each year presented assumes (i) no escalation in fee rates,
(ii) no increases in sites or tenancies other than our committed tenancies,
(iii) our customers do not utilise any cancellation allowances set forth in
their MSAs, (iv) our customers do not terminate MSAs early for any reason, and
(v) no automatic renewal.
Year ended 31 December
3 months to 2026 2027 2028 2029
31 December 2025
US$m US$m US$m US$m US$m
Middle East & North Africa 17.0 60.3 60.3 60.3 60.3
East & West Africa 80.7 290.0 283.3 276.0 272.4
Central & Southern Africa 99.5 387.3 350.1 339.3 291.8
197.2 737.6 693.7 675.6 624.5
The following table provides our total undiscounted contracted revenue by key
customer type as of 30 September 2025 over the life of the contracts with
local currency amounts converted at the applicable average rate for US Dollars
for the period ended 30 September 2025 held constant. Our calculation uses the
same assumptions as above. The average remaining life of customer contracts is
6.7 years (Q3 2024: 7.1 years).
Total contracted Percentage of total
(US$m) revenues contracted
revenues
Multinational MNOs 5,407.7 98.5%
Others 84.6 1.5%
5,492.3 100%
Adjusted EBITDA
Adjusted EBITDA increased by 11% to US$345.6m in the nine-month period ended
30 September 2025 (YTD 2024: US$311.9m), driven by tenancy growth, and
margin-accretive tenancy ratio expansion to 2.16x.
Adjusted EBITDA margin was 54% in the 9-month period ended 30 September 2025
(YTD 2024: 53%).
Recurring free cash flow and free cash flow
Recurring free cash flow increased by US$57.7m year-on-year to US$121.3m
principally driven by Adjusted EBITDA expansion and lower working capital.
Free cash flow increased by US$69.8m year-on-year to US$48.7m principally
driven by Adjusted EBITDA expansion and lower working capital and
discretionary capex.
9 months ended 30 September
2025 2024
US$m US$m
Adjusted EBITDA 345.6 311.9
Less: Maintenance and corporate capital additions (29.7) (31.1)
Less: Payments of lease liabilities(1) (31.1) (36.3)
Less: Tax paid (30.9) (26.9)
Portfolio free cash flow(2) 253.9 217.6
Cash conversion %(3) 73% 70%
Net payment of interest(4) (82.7) (88.3)
Net change in working capital(5) (49.9) (65.7)
Recurring free cash flow(6) 121.3 63.6
Discretionary capital additions(7) (72.0) (82.2)
Cash paid for exceptional and one-off items, and proceeds from disposal of (0.6) (2.5)
assets(8)
Free Cash Flow 48.7 (21.1)
1 Payment of lease liabilities comprises interest and principal repayments of
lease liabilities.
2 Refer to reconciliation of cash generated from operations to portfolio free
cash flow in the Alternative Performance Measures section of the Annual
Report.
3 Cash conversion % is calculated as portfolio free cash flow divided by
Adjusted EBITDA.4 East & West Africa segment reflects the Company's
operations in Tanzania, Senegal and Malawi.
4 Net payment of interest corresponds to the net of 'Interest paid' (including
withholding tax) and 'Interest received' in the Consolidated Statement of Cash
Flow, excluding interest payments on
lease liabilities
5 Working capital means the current assets less the current liabilities for
the Group. Net change in working capital corresponds to movements in working
capital, excluding cash paid for exceptional and one-off items and including
movements in working capital related to capital expenditure.
6 Recurring free cash flow has been represented based on the updated structure
of the management cash flow. It is defined as portfolio free cash flow less
net payment of interest and net change in working capital.
7 Discretionary capital additions include acquisition, growth and upgrade
capital additions.
8 Cash paid for exceptional and one-off items, and proceeds on disposal of
assets include project costs, deal costs, deposits in relation to
acquisitions, proceeds on disposal of assets and non-recurring taxes.
Gross debt, net debt, net leverage and cash & cash equivalents
Net leverage decreased by 0.4x year-to-date to 3.6x (Q4 2024: 4.0x) and
reduced 0.2x quarter-on-quarter from 3.8x.
30 September 31 December
2025 2024
US$m US$m
External debt(1) 1,706.0 1,672.8
Lease liabilities 231.3 223.7
Gross debt 1,937.3 1,896.5
Cash and cash equivalents (216.8) (161.0)
Net debt 1,720.5 1,735.5
Annualised Adjusted EBITDA(2) 480.4 436.4
Net leverage(3) 3.6x 4.0x
(1 ) External debt is presented in line with the balance sheet
amounts at amortised cost.
(2 ) Annualised Adjusted EBITDA calculated as per the Senior Notes
definition as the most recent fiscal quarter multiplied by four. This is not a
forecast of future results.
(3 ) Net leverage is calculated as net debt divided by annualised
Adjusted EBITDA.
Return on Invested Capital
Return on invested capital increased by 0.9ppt year-to-date (Q4 2024: 12.9%) and increased 0.2ppt quarter-on-quarter.
30 September 31 December
2025 2024
US$m US$m
Property, plant and equipment 1,112.4 981.0
Accumulated depreciation 1,302.1 1,236.5
Accumulated maintenance and corporate capital expenditure (331.7) (302.0)
Intangible assets 534.1 531.4
Accumulated amortisation 126.0 106.7
Accounting adjustments and deferred consideration for future sites (314.9) (240.4)
Total invested capital 2,428.0 2,313.2
Annualised portfolio free cash flow(1) 334.3 298.4
Return on invested capital 13.8% 12.9%
(1) Annualised portfolio free cash flow is calculated as portfolio free
cash flow for the last twelve months.
Capital expenditure
The following table shows capital expenditure additions by category during the
9-month period ended 30 September 2025:
2025 2024
% of % of
US$m Total capex US$m Total capex
Acquisition - - 5.2 4.6%
Growth 55.0 54.1% 58.9 52.0%
Upgrade 17.0 16.7% 18.1 16.0%
Maintenance 24.6 24.2% 26.4 23.3%
Corporate 5.1 5.0% 4.7 4.1%
101.7 100.0% 113.3 100.0%
Certain defined terms and conventions
We have prepared the annual report using a number of conventions, which you
should consider when reading information contained herein as follows. All
references to 'we', 'us', 'our', 'HT Group', 'Helios Towers' our 'Group' and
the 'Group' are references to Helios Towers, plc and its subsidiaries, taken
as a whole.
'2G' means the second-generation cellular telecommunications network
commercially launched on the GSM and CDMA standards.
'3G' means the third-generation cellular telecommunications networks that
allow simultaneous use of voice and data services, and provide high-speed data
access using a range of technologies.
'4G' means the fourth-generation cellular telecommunications networks that
allow simultaneous use of voice and data services, and provide high-speed data
access using a range of technologies (these speeds exceed those available for
3G).
'5G' means the fifth generation cellular telecommunications networks. 5G does
not currently have a publicly agreed upon standard; however, it provides
high-speed data access using a range of technologies that exceed those
available for 4G.
'Adjusted / Adj. EBITDA' is defined by management as profit/loss before tax
for the period, adjusted for finance costs, other gains and losses, interest
receivable, loss on disposal of property, plant and equipment, amortisation of
intangible assets, depreciation and impairments of property, plant and
equipment, depreciation of right-of-use assets, deal costs for aborted
acquisitions, deal costs not capitalised, share-based payments and long-term
incentive plan charges, and other adjusting items. Adjusting items are
material items that are considered one-off by management by virtue of their
size and/or incidence.
'Adjusted EBITDA margin' means Adjusted EBITDA divided by revenue.
'Adjusted gross margin' means Adjusted Gross Profit divided by revenue.
'Adjusted gross profit' means gross profit adding back site and warehouse
depreciation.
'Airtel' means Airtel Africa.
'amendment revenue' means revenue from amendments to existing site contracts
when tenants add or modify equipment, taking up additional vertical space,
wind load capacity and/or power consumption under an existing site contract.
'anchor tenant' means the primary customer occupying each site.
'Analysys Mason' means Analysys Mason Limited.
'annualised Adjusted EBITDA' means Adjusted EBITDA for the last three months
of the respective period, multiplied by four, adjusted to reflect the
annualised contribution from acquisitions that have closed in the last three
months of the respective period.
'annualised portfolio free cash flow' means portfolio free cash flow in the
trailing twelve months, adjusted to annualise for the impact of acquisitions
closed during the period.
'average remaining initial life' means the average of the periods through the
expiration of the term under certain agreements, excluding future automatic
renewals.
'APMs' Alternative Performance Measures are measures of financial performance,
financial position or cash flows that are not defined or specified under IFRS
but used by the Directors internally to assess the performance of the Group.
'average grid hours' or 'average grid availability' reflects the estimated
site weighted average of grid availability per day across the Group portfolio
in the reporting year.
'Axian' means Axian Group.
'build-to-suit' (BTS) means sites constructed by our Group on order by a MNO.
'carbon emissions per tenant' is the metric used for our intensity target. The
carbon emissions include Scope 1 and 2 emissions for the markets included in
the target and the average number of tenants is calculated using monthly data.
'colocation' means the sharing of site space by multiple customers or
technologies on the same site, equal to the sum of standard colocation tenants
and amendment colocation tenants.
'colocation tenant' means each additional tenant on a site in addition to the
primary anchor tenant and is classified as either a standard or amendment
colocation tenant.
'committed colocation' means contractual commitments relating to prospective
colocation tenancies with customers.
'Company' means Helios Towers plc.
'Congo Brazzaville' otherwise also known as the Republic of Congo.
'contracted revenue' means total undiscounted revenue as at that date with
local currency amounts converted at the applicable average rate for US Dollars
held constant. Our contracted revenue calculation for each year presented
assumes: (i) no escalation in fee rates, (ii) no increases in sites or
tenancies other than our committed tenancies (which include committed
colocations and/or committed anchor tenancies), (iii) our customers do not
utilise any cancellation allowances set forth in their MLAs (iv) our customers
do not terminate MLAs early for any reason and (v) no automatic renewal.
'corporate capital expenditure' primarily relates to furniture, fixtures and
equipment.
'downtime per tower per week' refers to the average amount of time our sites
are not powered across each week within our seven markets that Helios Towers
was operating in across 2024 and 2025.
'Deloitte' means Deloitte LLP.
'DRC' means Democratic Republic of Congo.
'FRS 102' means the Financial Reporting Standard Applicable in the UK and
Republic of Ireland.
'free cash flow' means recurring free cash flow less discretionary capital
additions and cash paid for exceptional and one-off items, and proceeds on
disposal assets.
'Ghana' means the Republic of Ghana.
'GHG' means greenhouse gases.
'gross debt' means non-current loans and current loans and long-term and
short-term lease liabilities.
'gross leverage' means gross debt divided by annualised Adjusted EBITDA.
'gross profit' means revenue after deducting cost of sales.
'growth capex' or 'growth capital expenditure' relates to (i) construction of
build-to-suit sites (ii) installation of colocation tenants and (ii) and
investments in power management solutions.
'Group' means Helios Towers plc and its subsidiaries.
'GSMA' is the industry organisation that represents the interests of mobile
network operators worldwide.
'hard currency Adjusted EBITDA' refers to Adjusted EBITDA that is denominated
in US Dollars, US Dollar pegged, US Dollar linked or Euro pegged.
'hard currency Adjusted EBITDA %' refers to Hard currency Adjusted EBITDA as a
% of Adjusted EBITDA.
'Helios Towers Congo Brazzaville' or 'HT Congo Brazzaville' means Helios
Towers Congo Brazzaville SASU.
'Helios Towers DRC' or 'HT DRC' means HT DRC Infraco SARL.
'Helios Towers Ghana' or 'HT Ghana' means HTG Managed Services Limited.
'Helios Towers Oman' or 'HT Oman' means Oman Tech Infrastructure SAOC.
'Helios Towers plc' means the ultimate Company of the Group.
'Helios Towers South Africa' or 'HTSA' means Helios Towers South Africa
Holdings (Pty) Ltd and its subsidiaries.
'Helios Towers Tanzania' or 'HT Tanzania' means HTT Infraco Limited.
'IFRS' means International Financial Reporting Standards as adopted by the
European Union.
'independent tower company' means a tower company that is not affiliated with
or majority owned by a telecommunications operator.
'ISO accreditations' refers to the International Organisation for
Standardisation and its published standards: ISO 9001 (Quality Management),
ISO 14001 (Environmental Management), ISO 45001 (Occupational Health and
Safety), ISO 37001 (Anti-Bribery Management) and ISO 27001 (Information
Security Management).
'IVMS' means in-vehicle monitoring system.
'Lean Six Sigma' is a renowned approach that helps businesses increase
productivity, reduce inefficiencies and improve the quality of output.
'lease-up' means the addition of colocation tenancies to our sites.
'Lost Time Injury Frequency Rate' means the number of lost time injuries per
one million person-hours worked (12-month rolling period).
'LTIP' means Long-Term Incentive Plan.
'Madagascar' means Republic of Madagascar.
'Malawi' means Republic of Malawi.
'maintenance capital expenditure' means capital expenditures for periodic
refurbishments and replacement of parts and equipment to keep existing sites
in service.
'Mauritius' means the Republic of Mauritius.
'MENA' means Middle East and North Africa.
'Middle East' region includes thirteen countries namely Hashemite Kingdom of
Jordan, Kingdom of Bahrain, Kingdom of Saudi Arabia, Republic of Iraq,
Republic of Lebanon, State of Kuwait, Sultanate of Oman, State of Palestine,
State of Qatar, Syrian Arab Republic, The Republic of Yemen, The Islamic
Republic of Iran and The United Arab Emirates.
'MLA' means master lease agreement.
'MNO' means mobile network operator.
'mobile penetration' means the amount of unique mobile phone subscriptions as
a percentage of the total market for active mobile phones.
'MTN' means MTN Group Ltd.
'MTSA' means master tower services agreement.
'near miss' is an event not causing harm but with the potential to cause
injury or ill health.
'NED' means Non-Executive Director.
'net debt' means gross debt less cash and cash equivalents.
'net leverage' means net debt divided by annualised Adjusted EBITDA.
'net receivables' means total trade receivables (including related parties)
and accrued revenue, less deferred income.
'Oman' means Sultanate of Oman.
'Omantel' means Oman Telecommunications Company SAOG.
'Orange' means Orange S.A.
'organic tenancy growth' means the addition of BTS or colocations not as a
result of M&A activities.
'our established markets' refers to Tanzania, DRC, Congo Brazzaville, Ghana
and South Africa.
'our markets' or 'markets in which we operate' refers to Tanzania, DRC, Congo
Brazzaville, Ghana, South Africa, Senegal, Madagascar, Malawi and Oman.
'population coverage' refers to the Company estimated potential population
that falls within the network coverage footprint of our towers, calculated
using WorldPop source data.
'portfolio free cash flow' defined as Adjusted EBITDA less maintenance and
corporate capital additions, payments of lease liabilities (including interest
and principal repayments of lease liabilities) and tax paid.
'PoS' means points of service, which is an MNO's antennae equipment
configuration located on a site to provide signal coverage to subscribers. At
Helios Towers, a standard PoS is equivalent to one tenant on a tower.
'power uptime' reflects the average percentage our sites are powered across
each month, and is a key component of our service offering to customers. For
comparability, figures presented only reflect portfolios that are subject to
power SLAs for both the current and prior reporting period. This includes
Tanzania, DRC, Senegal, Congo Brazzaville, South Africa, Ghana and Madagascar.
'Project 100' refers to our commitment to invest US$100 million between 2022
and 2030 on carbon reduction and carbon innovation.
'recurring free cash flow' means portfolio free cash flow less net payment of
interest and net change in working capital.
'road traffic accident frequency rate' means the number of work-related road
traffic accidents per 1 million kilometres driven (12-month roll).
'ROIC' means return on invested capital and is defined as annualised portfolio
free cash flow divided by invested capital.
'rural area' while there is no global standardised definition of rural, we
have defined rural as milieu with population density per square kilometre of
up to 1,000 inhabitants. These include greenfield sites, small villages and
towns with a series of small settlement structures.
'rural coverage' is the population living within the footprint of a site
located in a rural area.
'rural sites' means sites which align to the above definition of 'rural area'.
'Senegal' means the Republic of Senegal.
'SHEQ' means safety, health, environment and quality.
'site acquisition' means a combination of MLAs or MTSAs, which provide the
commercial terms governing the provision of site space, and individual ISA,
which act as an appendix to the relevant MLA or MTSA, and include
site-specific terms for each site.
'site agreement' means the MLA and ISA executed by us with our customers,
which act as an appendix to the relevant MLA and includes certain
site-specific information (for example, location and any grandfathered
equipment).
'SLA' means service-level agreement.
'South Africa' means the Republic of South Africa.
'standard colocation' means tower space under a standard tenancy site contract
rate and configuration with defined limits in terms of the vertical space
occupied, the wind load and power consumption.
'Tanzania' means the United Republic of Tanzania.
'TCFD' means Task Force on Climate-Related Financial Disclosures.
'telecommunications operator' means a company licensed by the government to
provide voice and data communications services.
'tenancy' means a space leased for installation of a base transmission site
and associated antennae.
'tenancy ratio' means the total number of tenancies divided by the total
number of our sites as of a given date and represents the average number of
tenants per site within a portfolio.
'tenant' means an MNO that leases vertical space on the tower and portions of
the land underneath on which it installs its equipment.
'the Trustee' means the trustee(s) of the EBT.
'total colocations' means standard colocations plus amendment colocations as
of a given date.
'total recordable case frequency rate' means the total recordable injuries
that occur per one million hours worked (12-month roll).
'total tenancies' means total anchor, standard and amendment colocation
tenants as of a given date.
'tower contract' means the MLA and individual site agreements executed by us
with our customers, which act as a schedule to the relevant MLA and includes
certain site-specific information (for example, location and equipment).
'towerco' means tower company, a corporation involved primarily in the
business of building, acquiring and operating telecommunications towers that
can accommodate and power the needs of multiple tenants.
'tower sites' means ground-based towers and rooftop towers and installations
constructed and owned by us on property (including a rooftop) that is
generally owned or leased by us.
'UK Corporate Governance Code' or 'the Code' means the UK Corporate Governance
Code published by the Financial Reporting Council and dated July 2018, as
amended from time to time.
'UK GAAP' means the United Kingdom Generally Accepted Accounting Practice.
'upgrade capex' or 'upgrade capital expenditure' comprises structural,
refurbishment and consolidation activities carried out on selected acquired
sites.
'Viettel' means Viettel Tanzania Limited.
'Vodacom' means Vodacom Group Limited.
'YAS' means the brand name of Axian's mobile network operation in Tanzania.
Disclaimer:
This release does not constitute an offering of securities or otherwise 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 (the 'Group'), nor
should it be construed as legal, tax, financial, investment or accounting
advice. This release contains forward-looking statements which are subject to
known and unknown risks and uncertainties because they relate to future
events, many of which are beyond the Group's control. These forward-looking
statements include, without limitation, statements in relation to the
Company's financial outlook and future performance. No assurance can be given
that future results will be achieved; actual events or results may differ
materially as a result of risks and uncertainties facing the Group.
You are cautioned not to rely on the forward-looking statements made in this
release, which speak only as of the date of this announcement. The Company
undertakes no obligation to update or revise any forward-looking statement to
reflect any change in its expectations or any change in events, conditions or
circumstances. Nothing in this release is or should be relied upon as a
warranty, promise or representation, express or implied, as to the future
performance of the Company or the Group or their businesses.
This release also contains non-GAAP financial information which the Directors
believe is valuable in understanding the performance of the Group. However,
non-GAAP information is not uniformly defined by all companies and therefore
it may not be comparable with similarly titled measures disclosed by other
companies, including those in the Group's industry. Although these measures
are important in the assessment and management of the Group's business, they
should not be viewed in isolation or as replacements for, but rather as
complementary to, the comparable GAAP measures.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
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