v3.24.0.1
Revenue
12 Months Ended
Dec. 31, 2023
Revenue.  
Revenue

6.Revenue

The Group’s revenue accrues from providing telecommunication support services. The Group provides infrastructure sharing and leasing known as colocation (which includes colocation rental revenue and colocation services) and to a limited extent, managed services.

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​

​

​

​

​

​

​

​

    

2023

    

2022

    

2021

​

​

$’000

​

$'000

​

$'000

​

​

​

​

​

​

​

Lease component

​

1,736,864

​

1,534,415

​

1,233,816

Services component

​

388,675

​

426,884

​

345,914

​

​

2,125,539

​

1,961,299

​

1,579,730

​

The following table shows unsatisfied performance obligations which represents the services component of future minimum receipts expected from customers under non-cancellable agreements in effect at December 31, as follows:

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​

​

​

​

​

​

​

    

2023

    

2022

    

2021

​

​

$’000

​

$'000

​

$'000

​

​

​

​

​

​

​

Within one year

 

302,046

 

418,137

​

351,071

1-2 years

 

271,463

 

386,416

​

309,861

2-3 years

 

214,028

 

309,326

​

255,791

3-4 years

 

203,051

 

288,244

​

211,615

4-5 years

 

184,186

 

276,816

​

190,018

After 5 years

 

704,110

 

1,149,649

​

858,912

​

​

1,878,884

 

2,828,588

​

2,177,268

​

The Group leases space on its towers under leases over periods ranging between 5 and 20 years.

The lease component of future minimum receipts expected from tenants under non-cancellable agreements in effect at December 31, were as follows:

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​

​

​

​

​

​

​

    

2023

    

2022

    

2021

​

​

$’000

​

$'000

​

$'000

​

​

​

​

​

​

​

Within one year

 

1,597,832

 

1,589,439

​

1,284,692

1-2 years

 

1,311,962

 

1,478,221

​

1,177,665

2-3 years

 

1,236,565

 

1,194,924

​

1,083,942

3-4 years

 

1,197,965

 

1,136,303

​

847,224

4-5 years

 

1,129,060

 

1,098,901

​

749,839

After 5 years

 

3,980,847

 

4,008,713

​

2,703,888

​

​

10,454,231

 

10,506,501

​

7,847,250

​

Certain customer contracts allow for the cancellation of a proportion of sites during the contract term without payment of termination penalties. The minimum service and lease revenue in the tables above assumes that each customer will fully utilize this Churn available to them under the contract. Where rentals are denominated in US Dollar, which is not the functional currency of the subsidiary, they have been included in the above table at the exchange rate at the end of the reporting period.