Helios Towers FY 2023 Results
ROIC BREAKDOWN
US$m
2020
2021
2022
2023
Property, plant and equipment
594.7
708.2
907.9
918.3
Accumulated depreciation
713.0
833.3
934.0
1,127.5
Accumulated maintenance and corporate capital expenditure
(180.6)
(202.7)
(224.8)
(260.3)
Intangible assets
23.2
231.4
575.2
546.4
Accumulated amortisation
56.4
24.5
50.4
75.6
Accounting adjustments and deferred consideration for future sites
Total invested capital
Annualised portfolio free cash flow(1)
Return on invested capital(2)
(1)
38
Helios Towers FY 2023 Results
Annualised portfolio free cash flow is calculated as portfolio free cash flow for the respective period, adjusted to
annualise the impact of acquisitions closed during the respective period.
(2)
Return on invested capital (ROIC) is defined as annualised portfolio free cash flow divided by invested capital.
(93.2)
(70.7)
(180.1)
1,206.7
1,501.5
2,172.0
2,227.4
174.4
177.3
223.8
268.2
14.5%
11.8%
10.3%
12.0%
Invested capital is defined as gross property, plant and equipment and gross intangible assets, less accumulated
maintenance and corporate capital expenditure, adjusted for IFRS 3 and IAS 29 accounting adjustments and
deferred consideration for future sites.
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