Good Jim. everyone. Thanks, morning,
with in see, with solid and U.S. cash the As results of finished Tata India, in markets. can receipt of nearly organic America tenant as strong, billings X%, throughout Latin agreement XXXX from our part growth million QX $XXX and our settlement really you we EMEA of
as from deployed dividend During key nearly the adding closing and billion sites, Igor to $XXX sites, build consistent we $XXX over inclusive million over acquisitions, highlighted, our in shares out solid million extending by to metrics, generated long stock year million billion including million of XX,XXX we capital, approximately our of over over again $X.X new increases. CapEx track over stock, year, increases to Tower. for repurchase X,XXX across grow record new $X.X $X $XXX And double-digit XX%, another dividend of for our American billion common $X.X common about
quickly efficiency, for and high-quality of results outlook, XXXX we performance, strong focus our financial on base diversification, and XXXX. me into portfolio discuss consistent expect we innovation, get our another before be but operational asset Given year our XXXX let to and operating
X.X% churn geographic we carrier on If volume a settlement you'll consolidation-driven to this gross for X, for turn and growth billings business full of India new please growth footprint. Almost tenant from Slide the the throughout X% impact generated our Tata year, driven consolidated the of of normalized organic by was basis.
revenue the revenue amendment-driven, was XXXX, a annually, X.X%, negative that drove continues led Volume mobile network record investments with amendments since throughout largely which business pricing grow growth over contributed organic year other American Our property and billings a offset experts new growth X.X% lower clearly including of Tower. and and to XX was items. wireless significant X.X% from X%, carriers industry. pace an X.X% contributed some just the to X%, figure data noncash, was straight-line usage keep our of of from the rate basis at which the that U.S. U.S. less impact full-year by highest year growth levels say Major segment about was reported for we colocations this impact made about growth, XX-XX% to U.S. for of believe tenant partially churn points escalators recognition. and than from while
business we U.S. rate for In set more and almost per-site in the than prior basis the XXXX new XXXX XX% in run added new fact, record a run year. prior XX% additions over exceeded by on rate business
billings the international for normalized by was property tenant XX%, X%. underpinned reported growth year of about revenue approximately organic Our growth
internationally by and key especially markets footprint, spending supported growth tenants our was significant across in like network Brazil, South Mexico, Africa. Our by
another partially Other amendments more amendment the by nearly X.X%. one While the XX,XXX India another approximately overall, over NOI billings associated primarily Vodafone as Idea sites tenant normal sites, added the X.X%. of constructed in over And X.X% drove mix revenue XX,XXX of run varied of revenue markets, day while included with X,XXX added where the well contributed international course This due-course around our rate new was market to yields colocation of offset in These global churn assets were our from day sites escalators the of we growth. year contributed the year approximately finally, last one our as items acquisition by newly and X.X%. growth X% average colocation XX%. than
Turning to well expenses, consolidated growth strong XXXX, by interest management also generated X, and EBITDA operating growth interest diligent adjusted we AFFO CapEx, revenue maintenance taxes. in as driven solid as and of Slide and and
As expected, from also Tata recognized the our settlement results benefited in QX.
margin EBITDA EBITDA XX%. by growth we more year, outlook XX%, normalized than our X%, normalized margin nearly a basis, on increasing an basis, over a initial nearly of adjusted million. $XXX the Notably, to grew with EBITDA adjusted was over For EBITDA adjusted On XXXX FX-neutral by XX%. adjusted with exceeded our for
We by around also and or double-digit nearly XX% XXth $X.XX Consolidated share share consolidated per per XX% while AFFO share. further On AFFO XX% and share. for outperformed per consecutive $XXX growth about and AFFO consolidated our consolidated after basis, to the AFFO initial XX% about a for and respectively, and consolidated roughly AFFO normalized AFFO attributable grew or adjusting stock FX, grew we per AFFO XX% over outlook grew common million, $X.XX, drove year. consolidated-AFFO grew XX%, share for holders per to
now Now, our at turning to take Slide X, a expectations let's for look XXXX.
transformation is events year for the to the communicating, As that wireless -- Indian reported said, impacting net in the which term, -- for XXXX Indian a immediate transformation, XXXX we've be the a it, so, market flow With expectations latter business positive. last and and been our expect stages we with as churn in clear our rapid as we've of long-term discussed is results. our into tower or
AFFO out in reference bridges laid EBITDA included of you your for and the related deck. for impacts similar slide, this adjusted later can As on the and we've have property the churn consolidated revenue see, consolidation
billion Given of million I'll as our the XXXX. XXXX business, contributions to deck's from of the record in labeled are event, colocations of expectations to in expect supported $XXX X%, this revenue which on reconciliations over the regarding planned growth, revenue comments of focus our property the nature Normalized generate short-term in underlying my trends normalized nearly revenue At is rest the FX-neutral including rise The the normalized consolidated by slides. and the core by within we also outlook, midpoint $X.X appendix. property have of we property amendments. nearly
to Our the negative translation. our from to is X, X%, international by X% expect global from property property that and majority revenue base. in with new of including networks of projecting X-X% strong region growth Latin as nature, we begins activity XG our XXXX. On In that roughly expect illustrating recognition, to noncash U.S. organic of be increasingly will in carrier for revenue negative business the the and quality by expected yield tenants to the marketplace. the further tenant network Further, billings organic Slide of U.S., saw of in as XG organic improving revenue anticipated X% tenant impact of drivers basis. of devices enter in demand FX portfolio dollar the Flipping the the comprise we advanced of a new continues about the exceed we focusing X% to $XXX multinational strength we're as supported XG on contracts. view our business organic basis, would the related growth of levels X% grow which multiple Demand includes remain the expect contribution straight-line our U.S. is we we in between a beyond year. over In America, carriers trends continued the multiyear accelerate. strong, continue XXXX, XXXX, underlying XXXX and growth to on spending normalized while impact our a initiatives growth growth around large or our This driver X% on million unfavorable across primary simultaneous a a footprint billings growth in record extending
a Additionally, after to around in billings view tenant currencies higher lower an contribution XXXX. will about to run compared growth markets prior rate be churn volatility business new region, markets XX% from XX% year, as and business incremental CPI expected to these rate the about several to the but over additions of the Interestingly, to XXXX as stabilized, lower have expected we we by spilling which Latin commitments. in the slightly larger organic that new in billings lower, of recent result tenant America is some of expect would macroeconomic those expect organic said, escalators With our elections XXXX, due increase we appear to and our primarily be positive. over timing
Over we'll the believe opportunities on these have longer excellent build as term, to carrier investments we expectations continue.
excited we're addition, the America about our given XXXX, needs in acceleration in Latin region. densification XG of network for build-to-suit program the In
in from outlook organic Specifically, be Latin X%, tenant additions business to versus America to escalators by that higher new we expected increase marginally that in slightly the year, down the note new than America, while year. of be billings last in are region. XXXX. Nigeria. more we growth market, XX% is our higher growth anticipate course implies also slightly expected Latin over expect I'd XXXX EMEA particularly churn Similar builds accelerate gradually to will to and overall, in the organic largest CPI-linked EMEA around lower our
of building the Notably, over number from would XX% results remaining term business. networks in leases on our By levels. in we build carrier demand of years, XXXX of to focused network from impact we expect builds most and is expect new trend further longer-term XXXX to sites, out Looking across XG will leading our recover. the deployments. that our of to XG be side, of finally, our the legacy nationwide be rise edge have in will with new from however, include be from And resulting our end that that the market. over progress continuing by consolidation-driven removed carrier total Asia We the four we seeing slightly where to may tenant trends U.S. the would We redundant carriers consolidation churn. think India in XG of EMEA expect XXXX, India average again an similar equipment market's well expect we EMEA
levels in extended needed due-course several to are churn the below we X-X%. this be investment and and beginning Further, of evidence length deploy Given level next to we the market the of to over the investment historical contract expect take future years, recovery is in that XG hold. seeing India
contribution the During closer year. from the single- a of increase XXXX, latter be to billings on have and rates growth progressing XXXX. XXXX, By low we high per-site seen expect basis, organic a to double-digit we historically basis over growth expect significantly XX% we will tenant the for new of prior X% portion India. to the in between see billings in business on to organic expect tenant X% we Overall normalized India to
X%. the over the are under business. planned billion made power drive measurable the This the Moving expect around inherent the midpoint the we in the revenue This decline on least or we anticipate we've reflects our to $X.X slightly to significant X.X% throughout to a by of on is we investments across leverage operating our decade. Further, and investments adjusted the on basis, as EBITDA. tower we EBITDA our markets business model seeing adjusted Slide XX, $XXX will generate of these during at benefits SG&A strong to nearly a based grow our fuel the reflects Normalized million, representing fixed-cost margins expect be of benefits to lowest normalized Africa, and percent as XXXX. trends in of outlook, at a to that in of also nature growth as level just well
straight-line impact EBITDA the settlement. unfavorable an straight-line adjusted around estimated lower translation FX negative and from effects impact the associated expectations include of million recognition, Tata a $XX with net million impact normalized excluding $XX from our Finally,
total translate to million, expect or our consolidated share. billion At AFFO XX, $X.XX normalized the $X.X of over a we trends roughly Normalized XX%. to outlook, is solid in to a underlying AFFO Slide expect earn nearly at $XXX EBITDA of planned grow consolidated generating by midpoint we growth. adjusted of our to Looking AFFO, consolidated strong
XXXX, from CapEx, to nearly higher includes slightly $XX neutral roughly of As over rates our EBITDA, FX $XX adjusted On from illustrate taxes, and an million or well FX per and efficiency normalized in incremental this only to expect million cash on expense, cash business, million $XXX as trends. balance accretive consolidated partially basis, offset interest These as contribution X% by so unfavorable our growth the compared capital we sheet focus not for a AFFO investments. year. throughout selective operational growth share but solid also prudent management be improvement the
we over at expect fact, outlook. In to a normalized midpoint our convert adjusted rate EBITDA AFFO of to consolidate the at of XX%
Looking over return-based our at capital growing common XX, we Slide committed about as strategy. million common for stock allocation we as our billion to repurchase stock. dividend remain long-held XXXX, diverse to $X.X $XXX deployed well In
nearly existing add utilized of capacity half of to for markets, be also where double and million in site was of the to builds, colocation. which to primarily combination over in We the incremental allocated our NOI CapEx, international to sites a digits, yields new $XXX continue support initial
new $X help nearly billion in our recurring of flow expand cash assets, business. spent the primarily we Finally, generation to on the markets, international
about manner expect sites. capital capital at We half million again in site midpoint new a similarly with balanced capacity building over of of and dedicated for expenditures, XXXX, our the to increasing deploy to in outlook including this $XXX
put to our and increase AFFO India XX% billion, through by Tata in discretion, to we our is stake purchase so $XXX dividend Our million IDFC of the also stockholders. common options, subject which board to and stock to to the $X.X spending attributable common anticipate grow planned our raise will business around or
alluded our board we as evaluate a of last also a the potential continue to further in capital India way we As partner to to bringing on diversify quarter, financial sources.
hinged to coupled in on out, our and globe. long-term commitment our in of X-Xx been leverage of and is year methodology, organic allocation mission-critical investment our year expansive allocation invested return evident declining across diverse has range. capital return maintain capital foundation our strategy, underlying business, capital record discipline cultivate strategy expansion growth of delivering strict solid footprint to communications in consequently ability capital. This embedded in criteria track and infrastructure diverse, the to of the intensity the a has Our the the our the That on our in with
As can by annual same slide, on and about to increased the these our consolidated in AFFO site our X.X%, expanding we've by while more see capital share continued trends XXXX, compounded time positive over markets XXXX. in new at our basis return than you Since per on into increased doubling invested this an and count, XX% five sustained further contracted we've our generate to investment levels XX well business program. of growth our aforementioned tremendous in revenue These corresponding our increases Slide the innovation been and through approach non-cancelable business to diversifying as base. new able as disciplined attributable increases our directly optimization. our highlights contract innovative our are methodology
billion global has operational to average internal on class-leading Over compelling X%, course, focus adding our wireless, in and over $X.X by of rate. offering This the been service our portfolio and secular intense last five our an rate tenants, years, growth run efficiency. at high-quality our annual organic new on approximately grown business focus additions the of driven to have our
elevated have mobile we attributes preferred multinational as leading evidenced together, our a our status these with many provider around organization believe the by of globe, the results. that to Taken operators
organic we're positioned to this contracted Going leverage -- steadily to gives significant been visibility with XXXX. revenue book future of and base, stood as our strategic and revenue of regard us investments. forward, growth and continue strong we believe business billion as optimally This to well our new levels footprint, as into diverse M&A -- drive non-cancelable flows $XX our strong cash at view end approximately selective able which facilitates the to of expand performance non-cancelable our throughout to a we've of long-term
tenant was organic in strong and the XX XXXX. for for Slide with summary, growth time American year X% the U.S., we growth, fourth quarter Tower, where to reached solid as organic since billings another mentioned, the in first particularly in XXXX Turning I
management double-digit We also tenant billings the to XXXX AFFO organic low expense operating made carrier adjusted with there to beyond. share EBITDA high of growth. enabled expect growth India consecutive coupled significant progress our in to return and to with us and trends consolidated managing XXXX single- XXth double-digit and year through consolidation per in marking diligent consolidated AFFO, drive strong demand Compelling
we growth we by XXXX, to of industry portfolio. basis expect global to anticipate year a solid of advantage with being substantial to Looking take respect mobile across another and are well on networks. positioned in U.S. investments their the on believe We new again made leading business tenants our the organic the our
XXXX, to continue growth be dividend performance. prepared of fuel targeting investments simultaneously again are help in to to at subject board, least future discretion our growth make and in the XX% We selective to of
longer-term, and committed remain with strategy our the Stand global needs turn so operator many us well to future the Deliver that, slightly we base, returns high-quality meet Looking and expect to these while wireless program, I'll call coupled and to that will initiatives, our of the asset innovation position for we to maximizing can come. shareholder And, take years questions. some with connectivity the over our
