Helios Towers plc (HTWS), the independent mobile tower company operating across Africa and the Middle East, has reported record year-to-date tenancy additions of 3,435 and 13% year-on-year Adjusted EBITDA growth for the nine months ended 30 September 2026. The group has tightened its full-year 2026 guidance upwards, now targeting approximately 4,000 tenancy additions and Adjusted EBITDA of approximately US$535m. The update also confirms an expanded share buyback programme of US$175m authorised through to December 2027, reflecting the board's stated confidence in the business outlook.

Key Points

  • Helios Towers plc (HTWS) — independent mobile tower operator across nine countries in Africa and the Middle East
  • Record 3,435 tenancy additions year-to-date, with total tenancies reaching 35,379 and tenancy ratio expanding to 2.26x
  • Year-to-date revenue of US$718.8m (+13%); Adjusted EBITDA of US$392.2m (+13%); recurring free cash flow of US$133.7m (+10%)
  • Investors may watch full-year delivery against the tightened c.4,000 tenancy additions target and progress on the US$175m buyback programme

Record Tenancy Additions Drive 13% Revenue and Adjusted EBITDA Growth Across Africa and the Middle East

For the nine months ended 30 September 2026, Helios Towers reported group revenue of US$718.8m, up 13% from US$634.5m in the equivalent prior-year period, with the increase primarily attributable to tenancy growth in the DRC, Tanzania and Malawi. Adjusted EBITDA rose 13% to US$392.2m, with the Adjusted EBITDA margin expanding one percentage point to 55%, supported by margin-accretive tenancy ratio growth. Operating profit increased 23% year-on-year to US$259.1m. The group's contracted revenue backlog stands at US$6.2bn, with 98% derived from large multinational mobile network operators and approximately 70% from investment grade customers.

FY 2026 Guidance Tightened Upwards as Helios Towers Targets c.US$535m Adjusted EBITDA

Helios Towers has tightened its full-year 2026 guidance upwards across all key metrics. The group now targets approximately 4,000 tenancy additions for the full year, up from prior guidance of 3,500–4,000, representing 13% growth on FY 2025 actuals of 2,538. Full-year Adjusted EBITDA guidance has been raised to approximately US$535m from a prior range of US$520–535m, against FY 2025 actuals of US$471m. Recurring free cash flow guidance is set at greater than US$235m, compared with prior guidance of US$220–235m. Chief Executive Officer Tom Greenwood stated that the company expects to deliver over 3,000 tenancies in 2027, supporting continued double-digit Adjusted EBITDA growth.

Share Buyback Expanded to US$175m and Inaugural Interim Dividend Paid as Capital Returns Accelerate

In September 2026, the board authorised an increase of US$100m to its share buyback programme, bringing the total authorisation to US$175m through to 31 December 2027. As of 30 September 2026, the company had allocated US$48m towards buybacks in the year-to-date period and US$72m cumulatively since the programme launched in November 2025. An inaugural interim dividend of 0.604p gross per ordinary share was paid to shareholders on 14 September 2026. Net leverage remained stable at 3.4x, while return on invested capital expanded 0.4 percentage points year-on-year to 14.2%.

Structural Demand Across Nine Markets Supports IMPACT 2030 Strategy in Its First Year

Helios Towers operates over 15,000 tower sites across nine countries, with segments spanning Middle East and North Africa (Oman), East and West Africa (Tanzania, Senegal, Malawi), and Central and Southern Africa (DRC, Congo Brazzaville, Ghana, South Africa, Madagascar). The company's colocation model — hosting multiple mobile network operators on individual sites — underpins its revenue model, with 69% of revenues denominated in hard currency as of 30 September 2026. The announcement states the group is tracking ahead of its IMPACT 2030 strategic targets in the strategy's first year, though currency risk and fuel price volatility remain company-specific factors that investors may monitor closely.