Helios Towers revenue swells 25% after Africa M&A activity
Helios Towers’ revenue rose around 25% from US$212.4 million to US$265.4 million for the first half of 2022.
The telecoms firm said this was driven by acquisition in Senegal Madagascar and Malawi, along with strong organic tenancy growth, CPI and climbing power prices.
The firm, which focuses on the Middle East and Africa, has seen its tower sites jump from 2,000 to around 10,700 across both regions this year.
“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,” Tom Greenwood, Helios Towers CEO said.
“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.”
Helios Towers operating profit rose to US$39.8 million compared to US$26.9 million last year as it continued to expand its operations.
Helios says it will continue to pursue acquisitions as it targets capital expenditure of over US$800 million for this year.
Acquisition made up around US$650 million of its revenue in 2022 alone.