Independent telecommunications infrastructure company Helios Towers plc (HTWSF), on Thursday, reported Q1 revenue of $194.6 million, an increase of 14%, compared to $170.8 million last year.
Adjusted EBITDA for the quarter rose 21% to $102.2 million from $84.7 million reported a year ago.
Operating profit was $67.3 million for the first quarter of 2024 versus $33.0 million in the same period of last year.
Tom Greenwood, Chief Executive Officer, said, "We have started the year well, continuing the momentum from 2023 to deliver strong operational and financial performance with revenue and Adjusted EBITDA increasing 14% and 21% year-on-year respectively. This was one of our strongest quarters for tenancy additions, supporting tenancy ratio expansion to close to 2.0x and towards our 2026 target of 2.2x."
Looking ahead, the company reiterated its full-year guidance as it continues to focus on organic growth, deleveraging, and an inflection in free cash flow.
For fiscal 2024, the company continues to project organic tenancy additions of 1,600 - 2,100, adjusted EBITDA of $405 million - $420 million, with capital expenditure of $150 million - $190 million, and portfolio free cash flow of $275 million - $290 million.
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