With its African and Middle Eastern portfolios continuing to perform strongly, the independent tower operator has set aside a further $650 million for acquisitions in 2022
This week, Helios Towers have announced its latest financial results, showing a revenue increase of 25% from $212.4 million in HY1 2022 to $265.4 million in H2.
Helios attributes this significant bump to the strong performance of its newly acquired towers in Africa in recent years, with the company gaining towers from Free Senegal in Senegal in May 2021 and Airtel Africa in Madagascar and Malawi in November 2021 and March 2022, respectively.
In total, the company’s tower portfolio has increased by around 2,000 towers this financial year, with the company’s complete tower holdings numbering around 10,700 in eight African markets: Senegal, Ghana, Congo, Democratic Republic of the Congo, Tanzania, Malawi, South Africa, and Madagascar.
The company also recently entered the Middle East by purchasing almost 3,000 towers in Oman last year from state-run telco Omantel.
“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,” explained Helios CEO Tom Greenwood, who took over the role back in April.
Following these positive results, Helios says it will continue its M&A push in Africa and the Middle East, which it views as two exciting markets for connectivity infrastructure, given their young, growing population and strong GDP expansion forecasts.
The company says that its targeted capex for 2022 is between $810 million and $850 million for 2022, with up to $650 million of this earmarked for further acquisitions.