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(Sharecast News) - Telecommunications infrastructure company Helios Towers said on Thursday full-year revenues and adjusted underlying earnings had both increased in 2021.
Helios said full-year revenues had grown 8% to $449.1m in the twelve months ended 31 December, while adjusted EBITDA increased 6% to $240.6m and operating profits improved 5% to $59.0m. Adjusted EBITDA margins slipped one percentage point to 54%.
Sites increased by a record 2,204 year-on-year to 9,560, reflecting 507 organic site additions and the acquisition of 1,697 sites during the year, while tenancies increased by a record 3,120 year-on-year to 18,776 tenants, reflecting 1,262 organic tenancy additions and 1,858 acquired tenancies through the year.
Cash generated from operations slipped 7% to $195.9m, due to working capital movements, while net debt increased 37% to $948.5m.
Chief executive Kash Panda said: "I am delighted with the team's performance over the past year. We delivered record site and tenancy additions, as a result of one of our best ever years of organic tenancy growth complemented by two acquisitions closed in the year.
"We also continued to reduce our cost of capital and combined with the announced acquisitions targeted to close in 2022, we have positioned the Company well for high-quality growth and returns going forward."
As of 0855 GMT, Helios shares were up 1.04% at 136.60p.
