Helios Towers Plc (LSE:HTWS) reported fourth-quarter results that came in ahead of expectations for new site additions, profitability, and free cash flow, according to a report released Thursday by Jefferies.
The telecommunications infrastructure provider recorded revenue growth of 5.9% year-over-year during the quarter, while earnings before interest, taxes, depreciation and amortization rose 15% compared with the same period last year. Recurring free cash flow increased by 2.4% in the quarter.
For the full year 2025, Helios generated approximately $66 million in free cash flow on a last-twelve-months basis, marking a 249% year-over-year increase. The company exceeded EBITDA forecasts by about 40 basis points and delivered recurring free cash flow roughly 17% above expectations.
During the fourth quarter, Helios added 413 tenancies, including 125 new sites and 288 colocations. These additions lifted the company’s tenancy ratio to 2.2x for fiscal 2025, representing a 0.1x improvement from the previous year. Return on invested capital reached 13.5% for the year.
Looking ahead to 2026, Helios guided for organic net tenancy additions between 2,000 and 2,500, compared with the company consensus estimate of 2,301. Adjusted EBITDA is expected to range from $510 million to $525 million, versus consensus projections of $520.3 million.
The company forecast discretionary capital expenditure of $110 million to $140 million, with a midpoint of $125 million. This outlook reflects an increase compared with consensus expectations of $162.2 million for total capital spending.
Jefferies said the higher capex outlook signals sustained demand from customers and underpins the company’s growth projections.
Recurring free cash flow for 2026 is expected to reach $210 million to $225 million, above the consensus estimate of $207.1 million.
Helios also plans to complete a $51 million share buyback next year, representing the remaining portion of its previously announced $75 million repurchase program. In addition, the company expects to pay a dividend of $25 million for the fiscal year.
More about Helios Towers
Helios Towers Plc (LSE:HTWS) operates telecommunications tower infrastructure across several African and Middle Eastern markets. The company provides tower space and related services to mobile network operators, enabling network expansion while supporting shared infrastructure and improved connectivity.
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