Helios Towers narrows FY losses as revenues grow

Telecommunications infrastructure company Helios Towers said on Wednesday that full-year adjusted underlying earnings and group revenues had both increased during the twelve months ended 31 December.

Helios reported full-year revenues of $414.0m, up 7.0% year-on-year, driven by continued growth in the number of sites and tenancies across the group, while adjusted underlying earnings increased 10% to $226.6m, driven again by tenancy growth as well as continued improvements in operational efficiency.

The number of Helios' tenants rose 7.0% to 15,656, with the number of sites rising 5.0% to 7,356.

While Helios still posted a pre-tax loss of $20.9m for the year as a whole, this figure was a marked reduction on the $74.8m pre-tax loss recorded in 2019.

As a result, the FTSE 250-listed firm recommended that no dividends be paid for the year. However, Helios added that given its expectations for the future growth of the business and improving free cash flow, there may be scope to pay a dividend in the medium-term.

Looking forward, Helios stated 2021 was shaping up be "another exciting year of growth", with the company looking to close its Senegal acquisition and expand operations in the country as it targets $110.0m-140.0m of capital expenditure across existing markets throughout the year.

As of 0900 GMT on Thursday, Helios shares had slumped 9.29% to 152.40p.