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Helios Towers PLC on Thursday backed annual guidance after first half revenue growth.
Helios reported revenue of $265.4 million for the half-year to June 30, up 25% from £212.4 million.
However, the company's pretax loss ballooned to $122.2 million from $43.6 million. Finance costs surged to $104.7 million from $64.5 million.
Adjusted earnings before interest, tax, depreciation and amortisation rose 19%, however, to $136.1 million from $114.2 million a year earlier.
Helios Towers assured that it is protected from rising inflation through its contracts.
‘Consumer price index and power price escalators embedded into customer contracts provides an effective hedge against inflation and fuel price movements over a full-year cycle,’ it stated.
Tenancies grew 20% year-on-year to 20,549. A tenant is a mobile network operator that leases space on a tower.
‘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. Despite broader global macroeconomic uncertainty, our uniquely positioned platform, highly visible base of quality earnings and unparalleled structural growth continues to drive sustainable value creation for all of our stakeholders,’ Chief Executive Tom Greenwood said.
Looking ahead, the Africa-focused mobile phone tower developer backed guidance of 1,200 to 1,700 organic tenancy additions.
The firm still expects an adjusted Ebitda margin between 51% and 53% in 2022, down from 53.6% in 2021. The first half adjusted Ebitda margin fell to 51% from 54% a year prior.
Meanwhile, Helios on Thursday said its Non-Executive Deputy Chair Kash Pandya resigned from his role on Wednesday to pursue other non-executive opportunities.
Helios Towers shares rose 2.2% to 138.02 pence each in London on Thursday morning.
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