20th May 2021 10:57
(Alliance News) -Â Helios Towers PLC on Thursday reported revenue and earnings growth for the first quarter of 2021, holding its full-year guidance.
Revenue for the first quarter amounted to USD103.6 million, up 2% year-on-year, which the telecommunications infrastructure company said was driven by tenancy growth.
Quarter-on-quarter, revenue fell 2%, due to a USD3 million decrease in revenue from the Democratic Republic of the Congo following a catch-up payment for amendment revenue in the fourth quarter.
Adjusted earnings before interest, tax, depreciation and amortisation grew 3% to USD55.8 million, with the margin strengthening 1 percentage point to 54%. Quarter-on-quarter, adjusted Ebitda fell 7%, due to the decline in DRC revenue and higher costs in that market.
"It has been a transformational start to 2021 for the company. We signed acquisition agreements that upon closing, increase our operational presence to 11 markets and bring site count close to 15,000 towers, including the BTS commitments from customers," said Chief Executive Kash Pandya.
"We are also delighted to achieve record power uptime in the quarter, delivering best-in-class service for our customers," said Pandya. "While adjusted Ebitda declined slightly in Q1, importantly our full-year guidance remains unchanged and we continue to expect the business to deliver another year of sustainable growth."
Shares were down 4.1% at 162.40 pence in London on Thursday.
By Lucy Heming;Â [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Helios Towers