Wendel : HTN Towers announce Full Year Results for 2015 and First Half of 2016.

HTN - FY 2015 and Q1 2016(10jun) Investor Report_sent[3] (Read-Only)

Strictly Private and Confidential

BUSINESS PERFORMANCE UPDATE

FY 2015 Q1 2016

DISCLAIMER

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THIS PRESENTATION IS CONFIDENTIAL AND DOES NOT CONSTITUTE OR FORM PART OF, AND SHOULD NOT BE CONSTRUED AS, AN OFFER OR INVITATION TO SUBSCRIBE FOR, UNDERWRITE OR OTHERWISE ACQUIRE, ANY SECURITIES OF HELIOS TOWERS FINANCE NETHERLANDS B.V. (THE "ISSUER"), HELIOS TOWERS NIGERIA LIMITED ("HTN") OR ANY SUBSIDIARY OR AFFILIATE RELATED TO HTN NOR SHOULD IT OR ANY PART OF IT FORM THE BASIS OF, OR BE RELIED ON IN CONNECTION WITH, ANY CONTRACT TO PURCHASE OR SUBSCRIBE FOR ANY SECURITIES OF THE ISSUER, HTN OR ANY SUBSIDIARY OR AFFILIATE OR RELATED TO HTN NOR SHALL IT OR ANY PART OF IT FORM THE BASIS OF OR BE RELIED ON IN CONNECTION WITH ANY CONTRACT OR COMMITMENT WHATSOEVER. ANY OFFER OF SECURITIES OF THE ISSUER, HTN OR ANY SUBSIDIARY OR AFFILIATE RELATED TO HTN WILL BE MADE BY MEANS OF AN OFFERING MEMORANDUM THAT WILL CONTAIN DETAILED INFORMATION ABOUT THE ISSUER, HTN AND ITS MANAGEMENT, AS WELL AS FINANCIAL STATEMENTS. ANY PERSON CONSIDERING THE PURCHASE OF ANY SECURITIES OF THE ISSUER, HTN OR ANY SUBSIDIARY OR AFFILIATE RELATED TO HTN MUST INFORM HIMSELF INDEPENDENTLY BASED SOLELY ON SUCH OFFERING MEMORANDUM (INCLUDING ANY SUPPLEMENT THERETO). THIS CONFIDENTIAL INFORMATION IS BEING MADE AVAILABLE TO YOU SOLELY FOR YOUR INFORMATION AND BACKGROUND AND IS SUBJECT TO AMENDMENT. THE CONFIDENTIAL INFORMATION (OR ANY PART OF IT) MAY NOT BE REPRODUCED OR REDISTRIBUTED, PASSED ON, OR THE CONTENTS OTHERWISE DIVULGED, DIRECTLY OR INDIRECTLY, TO ANY OTHER PERSON (EXCLUDING THE RELEVANT PERSON'S PROFESSIONAL ADVI SERS) OR PUBLISHED IN WHOLE OR IN PART FOR ANY PURPOSE. NO PART OF THIS PRESENTATION MAY BE TRANSMITTED INTO THE UNITED STATES WITHOUT THE EXPRESS WRITTEN CONSENT OF THE ISSUER.

The information c ontai ned herein has been obt ained from sources believed by HTN to be reliable. However, t his presentati on is provided to y ou (each referred to hereafter as a "Recipient") for information purposes only and should not be relied upon by t he Recipients and no liability, responsibility, or warranty of any kind is expressed, assumed or implied by HTN for the accuracy, inaccuracy, interpretati on, misinterpretation, application, misapplication, use or misuse of any statement, claim, purported fact or financial amount, prediction or expectation and does not c onstitut e an off er to sell notes or other securities or the s olicitation of an off er to buy not es or other securities, nor shall t here be any offer or sale of notes or other s ecurities in any jurisdiction in which such offer or sale would be unlawful prior to registration or qualification under the sec urities laws of s uch j urisdiction. In particular, this present ation does not c onstitut e an of fer for sale of, or a solicitation to purchas e or subscribe for, any securities in t he United States. No securities of the Issuer, HTN or any of its subsidiaries have been, or will be, registered under the US Securities Act of 1933, as amended (the "Securities Act"), and securities of the Issuer, HTN and its subsidiaries may not be offered or sold in t he United Stat es absent an ex emption from, or in a transaction not subject t o, t he registration requirements of the Sec urities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States. There will be no offering of securities in the United States.

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2

Strictly Private and Confidential

BUSINESS PERFORMANCE UPDATE

FY 2015

STRONG HISTORICAL PERFORMANCE OF KPIS

•

1 Continued growth in POS tenants: 608 POS tenancies (including 361

1. POS Tenancies per Live Site (excl. CDMA Churn)(1)
2. Monthly Tower Cash Flow per Live Site (US$)

MS(1)) added in the last 12 months representing 32% growth in new business. Strong dormant to live sites conversion: 38 sites converted in the last 12 months on HTN portfolio.

963

1,383

1,777

(2)

1,874

(3)

2,482

58%

4,519

64%

4,241

•

1. Tower cash flow margins improved from 58% to 64% excluding the Visafone early termination fee (ETF) Tower cash flow per live site reduced due to the effect of the SWAP MS sites which have a lower

   2011 2012 2013 2014 2015

2. Adjusted Revenue (US$ m)

   2014 2015

   Tower cash flow margin

3. Adjusted EBITDA (US$ m)

colocation ratio.

•

3 Revenue has grown at a CAGR of 20% in the past five years.

4

50.9

69.278.0

93.7

ETF

(4)

Other Income

n.m. 23% 41%45%56%

42.5

35.5

28.7

(5)

• Improving EBITDA margins to 56% 37

(excluding ETF) in 2015 due to increasing lease-­ups and realization of cost efficiencies from the

76.0

11.5

Solar/Hybrid program.

2011 2012 2013 2014 2015

(7.4)

2011 2012 2013 2014 2015

1. POS is defined as Point of Service tenancies per customer per tower;; MS refers to Managed Services tenancies)

2. 1,874 sites is post restatement of 108 Technology tenants and 74 LRE tenants of Swift, Vodacom, & Swift Talk as microwave installation not considered as tenants. (3) 2,482 includes 361 tenancies of MS sites

1. Excluding Visafone ETF of $17.7m and includes FX Impact. (FX: Average FY 2014 1$=155.45Naira, FY 2015 1$ = 192.6Naira).

2. Excluding Visafone ETF of $17.7m

Adjusted EBITDA margin

4