Independent telecommunications infrastructure company Helios Towers Plc (HTWSF) on Thursday turned to profit in fiscal 2024, helped by higher tenancy growth. Revenues also climbed 10 percent from last year. The company provided a positive outlook for fiscal 2025.
The company posted profit before tax of $44.2 million in fiscal 2024, compared to loss before tax of $112.2 million last year.
Profit for the year was $27 million, compared to loss of $111.8 million a year ago. On a per share basis, profit was 3 cents, in contrast to a loss of 10 cents.
Tenancies in fiscal 2024 were up 9 percent to 29,406 from 26,925 in the previous year.
The company's revenues for the year climbed to $792.0 million from $721.0 million in the prior year. Adjusted EBITDA was $421.0 million in full-year 2024, up 14 percent from last year's $369.9 million.
In its fourth quarter, Helios Towers recorded revenues of $207.3 million, up 11 percent from $187.3 million in the previous-year period. Adjusted EBITDA for the three-month period rose 8 percent to $109.1 million from $100.7 million a year ago.
Looking ahead to fiscal 2025, the company expects tenancy additions in the range of 2,000 - 2,500. Adjusted EBITDA is expected between $460 million and $470 million. Capital expenditure of between $150 million and $180 million is expected in the year ahead.
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