Helios Towers, the telecommunications-infrastructure company, has announced a narrowed pretax loss of $39.4 million for the first half of the year. This is a significant improvement from the $122.2 million loss in the same period last year. The reduction in loss can be attributed to a fair-value gain of $0.9 million from derivative instruments, compared to a loss of $57.7 million last year.
Additionally, Helios Towers has seen an increase in revenue and adjusted earnings before interest, taxes, depreciation, and amortization (Ebitda). The adjusted Ebitda for this period was $173.8 million, compared to $136.1 million last year.
Revenue has also shown substantial growth, totaling $350.2 million for the first half of the year compared to $265.4 million in the previous year. This can be attributed to a 30% increase in sites and a 26% increase in tenancies.
As a result of these positive financial figures, Helios Towers has revised its full-year guidance upwards. The company now expects an adjusted Ebitda between $355 million and $365 million, previously estimated at $350 million to $365 million. Tenancy additions are also expected to be higher than initially projected, with a range of 1,900 to 2,100, up from 1,600 to 2,100.
This positive news has been well received by investors, as shares in the company rose by 7.0% to 89.9 pence per share.