Helios bullish on Oman, round offers in Gabon
Helios Towers predicted that planned deals to buy passive tower infrastructure assets in Oman and Gabon will close in the second half, despite some regulatory challenges in the latter country.
In an income statement, Helios Towers noted that a decision to acquire Airtel Africa’s towers in Gabon is subject to obtaining a passive infrastructure license.
Helios Towers plans to spend $650 million on acquisitions over the full year, including deals in Malawi “and deferred acquisition payments in Senegal and Madagascar.”
Overall investments are targeted between $810 and $850 million this year.
Helios Towers CEO Tom Greenwood, who took over from Kash Pandya in April, noted that site acquisitions and organic rental growth continue to drive the company’s results after a strong performance in 2021.
“We recorded strong organic rental growth during the first half of the year, which, combined with the successful integration of the acquired assets in Senegal, Madagascar and Malawi, resulted in an impressive financial performance of year after year.”
Second-half revenue increased 25% year-over-year to $265.4 million, with pre-tax loss rising from $43.6 million to $122.2 million due to higher non-tax expenses. cash related to borrowings and foreign exchange movements.
Total sites increased 24% to 10,694, with rentals up 20% to 20,549.
For the full year, Helios Towers is targeting organic tenant additions between 1,200 and 1,700, of which 60% are expected to be new sites.
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