Helios FY operating profit hits record

Helios Towers reported a rise in annual operating profit increased driven by adjusted core earnings growth, partially offset by higher depreciation due to the increase in acquired and organic sites.

The company on Thursday said operating profit rose by 36% to a record $80.3m. Adjusted EBITDA increased by 18% year- to $282.8m.

Losses before tax increased to $162.5m from $119.4m, driven by a $54.1m increase in non-cash expenses related to fair value movements of the embedded derivatives in the group's bond and foreign exchange movements, primarily on euro and US dollar denominated intercompany borrowings.

Helios guided for 2023 Adjusted EBITDA of $350m - $365m, reflecting year-on-year growth of 24% - 29%.

Reporting by Frank Prenesti for Sharecast.com