for Good Thanks, thank and to morning Tom. call. joining you everyone today's
technological we heard growth Tom, American secular runway will encouraged that very growth industry long we drive you and for believe of the from the in by a trends are As continued Tower.
QX the through key on our leasing of from and details the and of revised I demand the Before touch several trends strength volatility footprint will outlook, first quarter, results evident across our walk collections developments I renewed including in India. and
newly which on the accelerate, organic approach with leasing First, and gross day to investments those growth our translated as across US We XG on X,XXX into same footprint, to we constructed double-digit demand one, in continue complemented leasing strong sequential earning returns low and continue the by sites we see in further in XG nearly XXXX. expect quarter we internationally driven average, this particularly growth trend solid trends. and driving
solutions Additionally, remains resulted US in platforms digital CoreSite. infrastructure fueled IT such enterprises results, with demand the portfolio our suited for by from another continuation IT for of interconnection-rich optimally on-premises hybrid access, to moving data center facilities of strong their healthy. as and cloud co-location leasing quarter direct This
growth data through $X.X valuation CoreSite will the closed MLA on million and in our of as deployment center Also, new XG our quarter data Verizon end investment a deploy further should leverage by tangible the which the a seek of terms. provides while US with our upsized to the another have center signed execute of agreement illustrating years. partnership XG fundamental This that evidence multiyear is a initial the our strategy. next a long-term at the we August, after to portfolio, end establishing business billion at and in Next, their expected This August, value in allow our our which US solid capabilities several is which differentiated characteristics we Verizon runway customers we to period. comprehensive over point, scale rapidly yet another to US of Stonepeak's criticality nationwide on highlights further data portfolio over efficiently was same accelerate business and $XXX network
with region. Africa's across and contractually this multi-market among with Under Africa, pipeline opportunities. a secured other new Additionally, Uganda Airtel build-to-suit to largest a the we our existing executed portfolio, attractive Niger along Kenya, agreement, support Airtel deployment, new terms customer in Nigeria, our XG MLA committed, long-term we've attractive
this and which Importantly, with program. focus wireless connectivity Airtel to sustainable communities Africa, our digital expand deploy manner, a sites commitment in we low-carbon a advancing share through on represented a is in agreement
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a Together, million not with anticipated booked a in now includes income billing debt AFFO in could half books that additional in monitor set VIL, full provide the associated strategic approximately laid at Consequently, of with we removal as and which adjusted $XXX repay XXX% temporary. revised an held associated in charges time, reduction It express stabilized as of to should expectations about and of Indian does revised AGR EBITDA cash also found was our XXXX QX government. bad start currently taken also include intangibles million. outlook including on these impairment million the VIL assume against result, guidance. we reserves did in have the reserves, reserves and this balances, that our potentially our QX and its out path which that any reversal prior was QX. the attributable result of we in equity is to a conversion and the $XX commitment shortfall certain net of to for more At with As be payment revenue the its associated a goodwill assumed that pass-through has year our shortfall outstanding opportunity on take to additional in $XX prudent flows in steps it in by payment, of revert VIL also we've the viewed a back It the to being consistent reverse VIL interest certain the closely will into noted future. guidance.
However, our of path potentially forward, VIL are reflected can continued we collections believe then, optionally In a we have actively the with our on meantime, expect notes, we which VIL existing revised risks could outlook. converting AR portion and those uncertainty until in which include the better for secure in receivables. working into convertible its
incorporate new With unfold next review property QX please X, and revenue that, February's call. our growth. this that I'll and guidance We will months the over XXXX several for developments our Slide organic into tenant on to billings turn
our $X.X you execution billion property revenue on compared of organic as during QX with Sprint revenue can partially year and headwinds international approximately in India business, consolidated associated Growth was X% X% on data XX% taken from and over period. churn. over the FX-neutral US build another XX% driven contributions to of the As offset reserves solid in basis our related as by discussed, by prior new program leasing, primarily center from by our quarter, increased an see
see we our highest consolidated sequential was X.X% $XX including organic new in acceleration achieved side XXXX. a of right QX quarter. since growth in business can at billings X.X%, quarter US the QX million, organic organic Canada, a gross step-up slide, the expected, you growth net from slightly meaningful the $XX million in of of as tenant In to of the and Moving for positive
come with within be timing the contractually year, full were a continue the our expect MLAs. through in QX quarter, last consistent where Though escalators certain drive XXXX, the churn, metric. comprehensive expect to growth impact by X.X%, our year-over-year we we growth will year, impacted This the will by which this for in Sprint will even to and have have right largest X% QX year-over-year headwinds offset further around MLAs. was of growth mechanics our in historical of X%, and As to we step consistent churn in over committed down Escalators tranche with which, continues trends. into were acceleration contractual throughout as negative large of our lapped portion indicated of Sprint
standing Africa densification the active continue putting best in with just as constructing and On strong on generated another is activity quarter in sites the year record business of X.X%, of the on the prior international billings Africa, modestly X.X%. later saw drive over in side, now new track organic Europe, which higher normalized gross trends, line was its due In prior also capital some an growth returns strong business new with complemented churn X%, strong initiatives at we XXX and Starting new a we across organic expectations year. more leasing growth at included growth and for year deployments delays we organic XG quarter organic on Growth organic growth quarter saw we largely region. the of program, pushed tenant level to anticipated with to X.X%, now past build see coverage the our than healthy continuing in to top base.
as business new agreement, was growth continuation offset highlighted decommissioning quarter with X,XXX line further on previous APAC, elevated to churn, quarter. which with new accelerate includes we of associated which with America. growth certain constructed saw primarily build comes by sites we calls. of Moving solid was the organic activity in X.X%, earnings and X% In partially approximately through during escalations Growth expect of which in Latin from another our to Organic X.X%, alongside X. QX, expectations, a organic escalations.
to slide Turning seven.
together conversion higher nearly adjusted partially Our with Adjusted on and impacts growth margin XXX $X.X or lower growth. third churn, year-over-year, headwinds controls, of to and Sprint to fuel over negative the X% X.X% approximately resulting was EBITDA revenue along revenue driven offset basis, assets, Idea by XX.X%, reserves Vodafone billion, acquired quarter Idea points from of impacts an Vodafone related revenue over FX-neutral with by down strong and EBITDA cost costs. margin basis churn, representing reserves X% of the newly Sprint profile the pass-through grew
Moving approximately each and respectively, a Growth to the across right AFFO, an attributable Vodafone Idea AFFO with over and per our FX. X% otherwise headwind X% the by X%, including was side share associated operations. by meaningfully offset attributable global X% and the resilient performance strong of Sprint combining churn, and impacted slide, reserves decreased for with related to
by year Let's few to the where full reviewing revised drivers. outlook, now our turn a I'll start of high-level key
power our our First, increases, and for EBITDA and primarily with performance the straight-line strong are as Together across business raising remains and connectivity year. fuel, MLAs, new portfolio regions. our pass-through adjusted networks of solid demand related to guidance we're rollout with along for volumes across the property wireless our next-generation from fueling revenue the executed benefit recently
and using Second, which of $XX we outlook headwind outlook property standard revenue, have revised $XX EBITDA our consolidated our to respectively. has million, AFFO, million FX methodology, resulted adjusted assumptions in for and million $XX
$XX incorporated relative have bad to QX our Vodafone incremental our assumption of and million for in This we around earlier, associated with in incremental the million. reserves outlook, of includes million prior reserves, noted revenue approximately debt QX, $XX as reversals and Finally, $XXX split and previous between Idea. removal
communicated As resume I in Vodafone XXXX. recurring full payments Idea its mentioned, has to intention
our full discuss However, the let's of expectations. the at that, for this year. to adjustments details revised appropriate we current year With these time, be believe
approximately Verizon of fuel total As straight-line million $XX eight, recently along our upside Africa our America, see in outlook various approximately raising MLAs including higher million, million by the on and slide property This non-recurring with primarily to which executed you outperformance we can revenue are includes now $XX midpoint. Airtel settlements full with year. associated benefits, million we and expect accelerated pass-through decommissioning-related $XX costs, driven the Latin in for by $XX revenue at
billings raise growth related by contribute million outperformance revenue our FX. across $XX upside some by on a incremental modest to several Vodafone I'll offset $XX partially shortly. to segments, helping outlook, organic and touch Idea in guidance of was This supported also revisions in revenue tenant reserves Our the million was to recurring our which to
Moving see Slide our prior as as a we segment, APAC Africa. US X, for Canada revising are billings well on our Europe, outlook International, the slightly while Latin and and organic our expectations tenant America will basis you and to we consolidated growth are for expectations, reiterating
are from organic to a in approximately approximately our we our approximately X.X% greater reflecting Latin organic XXXX. where expectations of X.X%, growth we're In to churn, X% greater into from in are our seeing modestly Europe, region. delays expect our Africa, from increasing guidance, in are growth America, we X% up we X%, in the earlier. up prior approximately in organic growth from mentioned international, the In previously. raising commencements our our further we our CPI-linked up we prior adjusted continuation For escalation business than expectations reflecting new guidance, In the benefits organic anticipated than growth expectations shift have to increasing X% than prior I as approximately X%, greater to X% outlook, to
carryover as we anticipate decline America into be tenant and in year reminder, prior to as head exit X% expect Africa, with what As consistent to resulting consolidation-driven some we sequential organic QX, Latin churn events in a impacts the we growth XXXX. and in drive assumptions, X.X% we respectively, in growth approximately billings a with
in we X%, afforded reiterating are tenant XXXX, organic organic three carriers around of big with US outlook, to with plus contractual our visibility improvement prior DISH. MLAs we see backstopped by the in QX our Canada, and where growth through billings growth Lastly, expect the the comprehensive further
Moving to Slide XX.
providing to upside to million with continued previous our high meaningful as prudent Vodafone property our benefits as for partially outperformance by with million in prior $XX midpoint reserves million adjusted delivered services assumed along previously through cost by controls EBITDA compared $XXX our volumes, offset associated incremental discussed compared the we're revenue $XX FX. outlook, as raising seeing are a conversion These where of We elevated Idea, are expectations. and
Turning XX. to Slide
Idea strong AFFO reserves approximately adjustment which on approximately guidance we of $X.XX FX-neutral was million to what per an $XX outperformance business, attributable downside, have our across a basis. We translating very into basis. which per Vodafone This $X.XX taken, share our attributable lowering is per by is on otherwise share performance $X.XX represented the share offsetting are or
XX. Moving to Slide
midpoint deployment reflect are Let's capital and returns. for our driving updated which to dedicate prior shareholder our outlook start growth our the slightly Within year, taking to we and expectations our continue at are on to our decreasing towards reiterating deployment plan, XXXX $X.X per AFFO share to look capital a savings compared CapEx, sustained by approximately focus dividend. as expectations subject With by our $XX our are timing plan. by prior we million, adjustments some to reducing with regard the decreasing $XX compared billion, and million total $XX Board approval our result redevelopment and start-up by to million, of
We business, approximately to globally development the X,XXX continue data with center associated million of assume construction $XXX new US and towards largely roughly sites our spend.
scale of remains which our to our redeployment as $X.X largely CapEx cash accretion and a building to benefit we've to allocate highlighted years discretionary yield for after through we generated flows. a of with come. financed past, returns customer build our way locally years billion As ability base through accretive strategic nearly credibility in to view program, further and towards the scale drive exceptional in generate global We continue the high projects compelling
buyback delevering not the opportunistically restart as highlight to like program. incorporated revised into capacity additional with to we guide, have share although we I'd that our plan, have we outpace currently we expect our Finally, our
great fundamentals and strong against drive over the further sight. other current we Given of as particularly recent market to anticipate we value line capital our our forms of a business long-term, performance deployment shareholder in this the opportunity see in
we of the a the past sheet several like light position, market liquidity rates side the review occurring to of slide, I'd to moment start in and the right made balance take the progress to in and volatility up shore unprecedented the year particularly have to the Moving since months. our of rise over
plan to target. using offerings, with our terms floating our term and bank that through XX% end at long-term rate of to XXXX. acquisition of As temporarily with leverage borrowings senior we and times of note and the moving and at all our you in exposure line capital against around short-term the ahead X.X pricing. and facilities the challenging X.X loans, rate out leverage our common private recall, times closed solid at termed exposure backdrop, have unsecured our strategically Today, stands floating XX%, CoreSite equity, Since time we
our us we continue rate while flexibility Looking cash access delevering ahead, short-term debt, the to predictable is on financial typical to believe appropriate flows exposure to us execute pre-payable given this profile and and as we path, low nature the which our contractual providing offers curve. of
currently offering which portion terms euro and meaningful than a also the us floating US. more a structure, provides competitive capital addition, denominated, debt those hedge diversified of while debt natural available in rate In our is pre-payable at
advantage investment-grade our facing we meaningful our investment-grade robust our we competitive access headwinds And serve rating to present it our Although we'll comfortable to This financing expect management. years. constructive policies more the certain challenges In we're the position maturities and against as including several the our a various we next growth established XXXX capital may we've today. navigate to sources from all in access feel the flexibility, of well sheet we challenges healthy today, maintaining sheet backdrop. diversified believe current will proven upcoming stemming diversified and economic environment, sources we capital near-term, solid position balance a long-standing near-term provide credit believe growth our rate our XXXX where on although approach to focus coupled as short, and the anticipate opportunistically includes with liquidity and us cycles, see us we manage the ability continued allowing to balance appears to of liquidity with certain markets over
and Finally, we backdrop. operating of XX. leasing on QX with a in our business And strong resilient summary, economic performance, challenging face global accelerated slide across had solid the in demand even a
the Africa and and through closing was Stonepeak customer and the Airtel of data in growth During Verizon of and positioning portfolio key business. to our center nature compelling in our with our US quarter, sustained further agreements highlighted drive long-term the partnership assets critical of subsequent upsizing
investment-grade growth next diversified key pressure competitive capital and likely decade we the on experience balance a as our associated and Although, we sheet, see in growth interest as advantage the our liquidity in with sources near-term we rates, rise of continued will the beyond. strategy some over execute
over for augment ahead to demand our the come. meet to look proven networks our excited to turn positioning Question-and-Answer long that, the positioned us our and our we the and and capabilities data-driven operator With of scale term, global years are customers communications extend As over assets and creation about we believe global I'll value Session growth exploding as and incremental portfolio sustainable back for the shareholders Q&A. drive to of have their call for
