Helios Towers lifts earnings view as data demand drives tenancy growth

(Alliance News) - Helios Towers PLC on Thursday raised guidance for 2026 adjusted earnings to reflect a "significant" tenancy pipeline amid "exceptionally strong" demand for data.

In response, shares in the London-based telecommunications tower owner shot up 16% to 235.80 pence each in London on Thursday, by far the best performing stock on the FTSE 250.

Adjusted earnings before interest, tax, depreciation and amortisation rose 14% to USD127.2 million in the first quarter from USD111.1 million the year before, driven by tenancy growth.

Operating profit increased 6.8% to USD81.8 million from USD76.6 million.

Revenue increased by 12% to USD229.2 million from USD203.8 million, driven by tenancy growth, with mobile network operators continuing to expand coverage to meet growing data demands.

Tenancies grew 11% on-year to 33,350 from 30,074 and Helios Towers said its tenancy pipeline this year is "significant."

As a result, the firm now targets a record 3,000 to 3,500 tenancy additions for 2026, increased by 1,000 compared to prior guidance.

Helios Towers said the incremental tenancies are expected to deliver more than USD15 million annualised adjusted Ebitda for 2027.

For 2026, the firm now expects adjusted Ebitda of USD515 million to USD530 million, raised from USD510 million to USD525 million before.

It expects recurring free cash flow of USD215 million to USS230 million for 2026, increased from USD210 million to USD225 million previously.

"Demand for data and connectivity across Africa and the Middle East remains exceptionally strong, with our mobile operator customers accelerating investment, driving significantly increased demand for our infrastructure," commented Chief Executive Tom Greenwood.

The company said business is underpinned by future contracted revenues of USD5.3 billion, of which around 70% is from "investment grade customers", with an average remaining initial life of 6.7 years.

By Jeremy Cutler, Alliance News reporter

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