Helios Towers plc (HTWSF) Q2 2023 Earnings Call Transcript

Helios Towers plc (OTCPK:HTWSF) \ Q3 2023 Earnings Conference Call November 2, 2023 5:30 AM ET

Company Participants

Tom Greenwood – Chief Executive Officer

Manjit Dhillon – Chief Financial Officer

Conference Call Participants

Emmet Kelly – Morgan Stanley

John Karidis – Numis

Rohit Modi – Citi

David Wright – Bank of America

Stella Cridge – Barclays


Hi, everyone, and welcome to the Helios Towers Q3 2023 performance and outlook call. Very good to talk to everyone today as always and I hope you and your family, as well. Thanks very much for your time today. So today we’ll be talking through our performance year-to-date. Our FY23 outlook and guidance upgrade and providing some early guidance on our FY24 view.

So first up page 2, we have the usual lineup to you, and me, Tom, Manjit Dhillon, and Chris Baker-Sams who got the business and financial update slides. And then we’ll open to Q&A at the end.

So now looking at Page 5. We are very pleased to report that we’ve delivered very strongly year-to-date. And therefore, we’re upgrading guidance across all our key metrics for FY23. Alternative editions are already above 2100, which was previously the top end of our guidance. So consequently were up increasing that and the large level of communications delivered so far has driven our tenancy ratio up from 1.8 to 1.9 year-to-date and importantly, we’ve seen our future contracted revenue increase 13% quarter-on-quarter and 37% year-over-year. So it’s highest ever level of $5.5 billion underpinning our future cash flows and return of growth.

Financial performance in Q3 was especially strong year-over-year with revenues up 28% EBITD dollar 35%, of which 22% was organic and our margin up 3 percentage points driven by the tenancy ratio increase I mentioned earlier. Also, our last 12 months portfolio free cash flow is

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