Helios Towers (LSE:HTWS), the independent mobile tower company operating across Africa and the Middle East, reported record tenancy additions in the six months to 30 June, driving a broader upgrade to its full-year outlook.
Adjusted EBITDA rose 14% year-on-year to $257m, while revenue climbed 11% to $466.3m, both driven largely by tenancy growth and colocations on existing sites.
"We are well positioned to deliver another record year," said Chief Executive Officer Tom Greenwood, adding that the tenancy pipeline "underpins our confidence to further upgrade our FY 2026 financial and operational guidance."
The company now targets 3,500 to 4,000 tenancy additions for the year, up from a prior range of 3,000 to 3,500, and raised its Adjusted EBITDA guidance to $520m-$535m from $515m-$530m.
Helios Towers completed $27m of share buybacks in the first half, taking cumulative repurchases to $58m since the programme began in November 2025, and declared an inaugural interim dividend of 0.604p per share, payable 14 September.
Net leverage fell 0.4 times year-on-year to 3.4 times, aided by a Moody's upgrade to Ba3 in February and a refinancing that cut the group's cost of debt to 6.7%.
The company reiterated its target to return more than $75m to shareholders in 2026 through combined buybacks and dividends.
News Intelligence what this means for the company
Helios Towers reported record tenancy additions of 2,511 in H1, driving 14% Adjusted EBITDA growth to $257m and prompting its second FY 2026 guidance upgrade this year. The company raised its full-year tenancy target to 3,500–4,000 additions (from 3,000–3,500) and Adjusted EBITDA guidance to $520m–$535m, while initiating its first dividend and maintaining a $75m+ shareholder return commitment, all underpinned by an active pipeline and improving leverage (3.4x, down 0.4x year-on-year).
Consecutive guidance upgrades and record operational momentum reinforce the thesis that Helios's African and Middle Eastern tower portfolio is capturing sustained tenancy demand. The inaugural dividend and buyback program signal confidence in cash generation, though the $75m return target against $520m–$535m Adjusted EBITDA guidance (14–14.3% payout) leaves room for debt reduction—net leverage of 3.4x remains elevated relative to mature tower peers, a constraint on total shareholder yield.
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