February 27, 2017– In the fourth quarter 2016, American Tower saw total revenue increase 20.3 percent to $1,540 million and property revenue increase 21.6 percent to $1,521 million. Those results were in line with the full year 2016 numbers, which included a 21.3 percent increase in total revenue to $5,786 million and property revenue increase of 22.1 percent to $5,713 million
“In 2016, we once again generated double digit growth in our property revenue, Adjusted EBITDA and Consolidated AFFO per share,” Jim Taiclet, American Tower’s CEO, said. “At the same time, we continued to expand our asset base through our active tower construction program and accretive acquisitions like the Viom transaction in India and ended the year with nearly 145,000 towers and small cell systems.”
Tower growth is being driven by increases in smartphone penetration and monthly data consumption, including in the U.S., where the average smartphone user now consumes over 4.4 gigabytes of data per month, according to Taiclet.
“We expect that these trends will in turn result in continued network investment and underpin our expectations for 2017, which include organic tenant billings growth of over 7 percent and consolidated AFFO growth of over 10 percent,” he said. “Further, we continue to target annual dividend per share growth of at least 20 percent, remain committed to our target net leverage range and expect to evaluate both accretive acquisition opportunities and a reinstatement of our share repurchase program during the course of the year.”