Who we are

We are a leading independent telecoms infrastructure company, having established one of the most extensive tower portfolios across Africa and the Middle East.

Our purpose

To drive the growth of mobile communications across Africa and the Middle East.

Our mission

Our business model promotes tower infrastructure sharing, and enables mobile network operators (MNOs) to deliver mobile connectivity more quickly, reliably, cost effectively and with a lower environmental footprint. In turn, this supports the expansion and quality of mobile connectivity, driving sustainable development in our markets.

To deliver exceptional customer service through our business excellence platform, and create sustainable value for our people, environment, customers, communities and investors.

Our values

  • - Integrity

  • - Partnership

  • - Excellence

  • 1 Please see Glossary for definitions and methodologies of our non-financial KPIs.

  • Δ Alternative Performance Measures are defined on pages 74-76.

Governance ReportFinancial Statements

Welcome to our Annual Report and Financial Statements 2022

This year, we have adopted integrated reporting as this best reflects our approach to sustainable business. We have a complementary Reporting Supplement which includes additional ESG information and our disclosures against reporting frameworks such as the Global Reporting Initiative: heliostowers.com/investors.

We hope you enjoy reading this report, and we welcome any feedback at:investorrelations@heliostowers.com.

02

Strategic Report

  • 03 Our business model

    • 03 What we do

    • 04 Our value creation

    • 05 How we do it

    • 06 Our impact

    • 07 Fastest growing mobile markets

    • 08 Our markets

    • 09 Why invest?

  • 11 Chair's statement

  • 14 Group CEO's statement

  • 17 Q&A with our Group CEO and CFO

  • 19 Our strategic KPIs

  • 20 Impact report

    20 Digital inclusion

    24 Climate action

    30 Local, diverse, talented teams

    36 Responsible governance

  • 40 Market and operating review

  • 50 Group CFO's statement

  • 53 Section 172(1) Statement

  • 57 Non-financial information statement

  • 58 Risk management

  • 59 Principal risks and uncertainties

  • 64 TCFD disclosures

  • 72 Viability statement

  • 74 Alternative Performance Measures

77

Detailed financial review

84

Governance Report

  • 85 Chair's introduction to the Governance Report

  • 86 UK Corporate Governance Code compliance

  • 87 Board of Directors

  • 89 Executive Committee

  • 90 Board diversity at a glance

  • 91 Governance framework

  • 92 Board leadership and Company purpose

  • 96 Division of responsibilities

  • 98 Composition, succession and evaluation

  • 99 Nomination Committee Report

  • 103 Audit Committee Report

  • 109 Directors' Remuneration Report:

    114 Directors' Remuneration Policy

    123 Annual report on remuneration

  • 138 Other Statutory Information

  • 141 Statement of Directors' responsibilities

142

Financial Statements

  • 143 Independent auditor's report

  • 152 Consolidated Income Statement

  • 152 Consolidated Statement of Other Comprehensive Income

  • 153 Consolidated Statement of Financial Position

  • 154 Consolidated Statement of changes in Equity

  • 155 Consolidated Statement of Cash Flows

  • 156 Notes to the Consolidated Financial Statements

  • 191 Company Statement of Financial Position

  • 191 Company Statement of Changes in Equity

  • 192 Notes to the Company Financial Statements

  • 195 List of subsidiaries

  • 196 Officers, professional advisors and shareholder information

    Governance Report

  • 197 Glossary

Financial Statements

A transformational year

2022 was a year of substantial expansion, establishing a stronger and more diversified platform, primed for the next stage of value creation. Our platform has nearly doubled in size since IPO in 2019.

Strategic Report

  • 03 Our business model

    • 03 What we do

    • 04 Our value creation

    • 05 How we do it

    • 06 Our impact

    • 07 Fastest growing mobile markets

    • 08 Our markets

    • 09 Why invest?

  • 11 Chair's statement

  • 14 Group CEO's statement

  • 17 Q&A with our Group CEO and CFO

  • 19 Our strategic KPIs

  • 20 Impact report

    20 Digital inclusion

    24 Climate action

    30 Local, diverse, talented teams

    36 Responsible governance

  • 40 Market and operating review

  • 50 Group CFO's statement

  • 53 Section 172(1) Statement

  • 57 Non-financial information statement

  • 58 Risk management

  • 59 Principal risks and uncertainties

  • 64 TCFD disclosures

  • 72 Viability statement

  • 74 Alternative Performance Measures

  • 77 Detailed financial review

Governance ReporrttFFininaanncciaial lSStattaetemmeenntsts

Our business model

What we do

Our principal business is building, acquiring and operating telecommunications towers that can accommodate and power the needs of multiple tenants.

Our tenants are the major MNOs, and we serve them across nine high-growth markets. We offer a comprehensive passive infrastructure solution that includes site selection and preparation, maintenance, security, power management and hosting of active equipment such as antennae.

Our infrastructure-sharing model reduces the need for duplicate infrastructure, which drives more sustainable expansion of mobile connectivity. MNOs can rollout and densify mobile coverage more quickly, more reliably, more cost-effectively and with a lower environmental impact.

We therefore play a pivotal role in advancing access to mobile communications in our markets, which in turn, contributes to driving social and economic development.

What we do

ACQUIRE AND BUILD TOWERS

Disciplined approach to acquisitions, focused on attractive portfolios that support strong growth potential and high-quality earnings.

Build-to-suit (BTS) sites are entirely demand driven and only constructed after receiving a contractual order from an MNO.

COLOCATION LEASE-UP

Add additional tenants to our towers, sharing space and power equipment.

Central to our business model; lease-up drives earnings growth with minimal additional costs.

Substantial operating leverage with c.80% Adjusted EBITDA margin flow-through.

Utilise Lean Six Sigma principles tocontinuously improve operations.

DRIVE OPERATIONAL IMPROVEMENTS

Optimise power through grid connections and hybrid and solar solutions, reducing our carbon emissions.

Value for our stakeholders

Customers

More cost-effective tower usage: our leases are priced at a substantial discount to an MNO's total cost of ownership.

Reduction in MNOs' passive infrastructure capex burden, allowing them to focus their resources on active equipment and technology upgrades.

Communities, economies and the environment

Contribution to local economies and extending network coverage to reach rural locations, helping to connect the unconnected.

Reduced environmental footprint through infrastructure-sharing and improved power and maintenance efficiencies.

Our people and partners Employment, founded on a culture of safety, with training and development opportunities for a diverse localised workforce - both with us and our partners.

Investors

Opportunity to capture the unparalleled structural growth in mobile across Africa and the Middle East, with a robust and resilient business model.

Governance ReportFinancial Statements

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Helios Towers plc published this content on 27 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 March 2023 13:07:16 UTC.