LONDON (ShareCast) - (Sharecast News) - Telecommunications infrastructure firm Helios Towers lifted its full-year outlook on Thursday as it posted an uptick in third-quarter adjusted EBITDA.
For 2024, it now expects to add 2,400 tenancies, up from previous guidance of between 1,900 and 2,100. Meanwhile, adjusted earnings before interest, tax, depreciation and amortisation are seen at around $420m, up from a previous forecast of $410m to $420m.

It expects portfolio free cash flow of around $290m, from prior guidance of $280m to $290m and its guidance for capital expenditure was narrowed to between $170m and $180m from between $155m and $190m.

Helios said third-quarter adjusted EBITDA edged up 2% quarter-on-quarter to $105.7m.

Chief executive Tom Greenwood said: "Our Q3 results reflect continued execution of our 2.2x by 2026 strategy, with strong tenancy growth supported by our leading positions in structurally high-growth markets.

"Accordingly, we have increased our FY 2024 guidance for tenancy additions to over 2,400, and we now expect to deliver adjusted EBITDA and portfolio free cash flow at the high-end of our prior guidance ranges, supporting our targeted net leverage reduction.

"Looking forward to FY 2025, we expect further progress in our tenancy ratio expansion strategy. Combined with our resilient business model and focus on efficiencies through AI and digitalisation, we expect this to drive low double-digit Adjusted EBITDA growth, continued return on invested capital expansion and further deleveraging, supporting sustainable value creation for all our stakeholders."

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