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Cellnex revenues up 48% to EUR 723 mln in H1, lifts FY guidance

2020-07-21 09:22:00| Telecompaper Headlines

(Telecompaper) Spanish operator Cellnex Telecom, Europe's largest mobile towers company, reported revenues of EUR 723 million in the first half of 2020, up 48 percent year on year, with EBITDA rising 64 percent to EUR 527 million thanks mainly to the series of acquisitions made in 2019 in France and Italy (Iliad), Switzerland (Salt), the UK (BT), Ireland (Cignal) and Spain (Orange), as well as the purchase of OMTEL in Portugal, which closed in January. The financial costs of these investments and higher amortisation prompted a net loss of EUR 43 million in the same period, up from EUR 30 million in the first three months of 2020, a negative result that's expected to continue "in the coming quarters", said Cellnex.

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Category:Telecommunications

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