Helios bullish on Oman, Gabon tower deals - Mobile World Live

Helios bullish on Oman, Gabon tower deals

18 AUG 2022
tower

Helios Towers predicted planned deals to buy passive tower infrastructure assets in Oman and Gabon will close in H2, despite some regulatory challenges in the latter country.

In an earnings statement, Helios Towers noted a move to acquire Airtel Africa’s towers in Gabon is subject to receiving a passive infrastructure licence.

Helios Towers expects to spend $650 million on acquisitions across the full year, including deals in Malawi “and deferred acquisition payments in Senegal and Madagascar”.

Overall capex is targeted at $810 million to $850 million this year.

Helios Towers CEO Tom Greenwood, who took over from Kash Pandya in April, noted site acquisitions and organic tenancy growth continue to boost the company’s results following a strong performance in 2021.

“We have delivered strong organic tenancy growth in the first half of the year, which combined with the successful integration of acquired assets in Senegal, Madagascar and Malawi has resulted in impressive year-on-year financial performance.”

Earnings
H2 revenue increased 25 per cent year-on-year to $265.4 million, with pre-tax loss up from $43.6 million to $122.2 million due to higher non-cash expenses related to borrowings and foreign exchange movements.

The total number of sites increased 24 per cent to 10,694 with tenancies up 20 per cent to 20,549.

For the full year, Helios Towers is targeting organic tenancy additions of between 1,200 and 1,700, of which 60 per cent are expected to be new sites.

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Anne Morris

Anne Morris is a freelance journalist and contributes news and analysis to Mobile World Live.

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