Helios Towers FY 2023 Results
MANAGEMENT CASH FLOW
12 months ended 31 December
2023
US$m
Adjusted EBITDA
Less:
Maintenance and corporate capital additions
Payments of lease liabilities(1)
Corporate taxes paid
Portfolio free cash flow (2)
Cash conversion % (3)
Net payment of interest (4)
Net change in working capital(5)
Levered portfolio free cash flow
369.9
2022
282.8
(35.5)
(20.3)
(45.3)
(40.8)
(20.9)
(20.3)
268.2
201.4
73%
71%
(127.9)
(97.7)
(47.1)
(86.5)
93.2
17.2
Discretionary capital additions (6)
(167.5)
(745.0)
Cash paid for exceptional and one-off items, and proceeds on disposal of assets (7)
Free cash flow
(6.8)
7.2
(81.1)
(720.6)
Transactions with non-controlling interests
(11.8)
Net cash flow from financing activities (8)
Net cash flow
Opening cash balance
Foreign exchange movement
Closing cash balance
75.7
327.4
(5.4)
(405.0)
119.6
(7.6)
528.9
(4.3)
106.6
119.6
36
Helios Towers FY 2023 Results
ུས ཀྱབ 6
(1)
Payment of lease liabilities comprises interest and principal repayments of lease liabilities.
(2)
Refer to reconciliation of cash generated from operating activities to portfolio free cash flow in the Alternative
Performance Measures section.
(6)
corresponds to movements in working capital, excluding cash paid for exceptional and one-off items and including
movements in working capital related to capital expenditure.
Discretionary capital additions includes acquisition, growth and upgrade capital additions.
(3)
Cash conversion % is calculated as portfolio free cash flow divided by Adjusted EBITDA.
(7)
(4)
Net payment of interest corresponds to the net of 'Interest paid' (including withholding tax) and 'Interest received' in the
Consolidated Statement of Cash Flow, excluding interest payments on lease liabilities.
Cash paid for exceptional and one-off items and proceeds on disposal of assets includes project costs, deal costs,
deposits in relation to acquisitions, proceeds on disposal of assets and non-recurring taxes.
(8)
(5) Working capital means the current assets less the current liabilities for the Group. Net change in working capital
Net cash flow from financing activities includes gross proceeds from issue of equity share capital, share issue costs, loan
drawdowns, loan issue costs, repayment of loan and capital contributions in the Consolidated Statement of Cash Flows.
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