2nd Nov 2023 10:53
(Alliance News) - Helios Towers PLC on Thursday said that adjusted earnings and operating profit rose, with tenancies and sites growing comfortably.
The London-based telecommunications infrastructure company said operating profit in the first nine months of 2023 surged 79% to USD112.6 million from USD62.9 million a year prior. Revenue climbed 31% to USD533.7 million from USD408.8 million.
Adjusted earnings before interest, tax, depreciation and amortisation increased 30% to USD269.2 million from USD206.8 million.
Notably, sites rose 29% to 14,024 from 10,872, while tenancies grew 27% to 26,624 from 20,913.
Net debt however increased 51% to USD1.73 billion from USD1.15 billion. Net leverage increased to 4.5 times from 4.1 times. It is an alternative performance ratio relating to company debt, with a lower figure generally being more sound financially.
Looking ahead, Chief Executive Officer Tom Greenwood expects the momentum to continue into 2024, eyeing double-digit organic adjusted Ebitda growth and a reduction in net leverage to below 4.0 times.
Helios Towers shares rose 12% to 68.80 pence each on Thursday morning in London.
By Tom Budszus, Alliance News reporter
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