Helios Towers raises 2026 guidance after record tenancy additions

Helios Towers reported a 13% rise in first-half tenancies to 34,455 and raised its full-year outlook, citing accelerating network investment across Africa and the Middle East.

"The long-term opportunity for Helios Towers has never been more compelling," Chief Executive Tom Greenwood said, pointing to rising smartphone adoption and data consumption driving multi-decade infrastructure demand.

Revenue rose to $466.3 million from $418.3 million a year earlier, though pretax profit fell to $39.9 million from $77.3 million as finance costs jumped to $125.8 million. Adjusted EBITDA increased 14% to $257 million, while recurring free cash flow surged 52% to $105.8 million. The company declared an inaugural dividend of 0.604 pence per share.

Shares rose 5.3% to 213 pence in London trading. The raised outlook is backed by record future contracted revenue of $5.9 billion, with 98% from large multinational operators and 70% from investment-grade customers carrying an average remaining initial life of 6.5 years.

The tenancy ratio improved to 2.26 times from 2.11, reflecting more tenants per tower. Helios Towers now expects 3,500 to 4,000 tenancy additions for the full year, up from a prior range of 3,000 to 3,500. Adjusted EBITDA guidance was raised to $520 million to $535 million, and recurring free cash flow guidance was lifted to $220 million to $235 million.

The guidance raise suggests management expects sustained demand from mobile network operators expanding coverage and capacity across the company's markets. Investors will watch second-half tenancy additions for confirmation of the upgraded 3,500 to 4,000 target.

This article is for informational purposes only and does not constitute investment advice.