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Cellnex’s core earnings grow 63% in 2021, net loss doubles -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: A placard with the logo of SpainÕs telecoms infrastructures firm Cellnex is seen attached to the wall of main telecom tower “Torrespana” , known as “Piruli”, in Madrid, Spain, March 10, 2016. REUTERS/Sergio Perez

BARCELONA (Reuters – Europe’s leading mobile operator Cellnex announced Friday that its net loss increased to 351 millions euros ($394.35 Million) due to costs associated with its expansion, but it achieved its forecast because core earnings grew by 63%.

Spanish firm’s adjusted earnings (before interest, taxes and depreciation) was 1.92 billion euro. However, revenue increased 58% to 2.53 billion euros. Both figures are slightly more than the company’s expectations and Refinitiv estimates.

Cellnex projects that in 2022 its EBITDA growth will be between 2.65 and 2.7 Billion euros. Revenues are expected to increase to 3.460 billion-3.510 Billion euros. The company maintained its 2020 target to achieve an EBITDA of 3 billion euros, and revenues in excess of 4 billion euros.

($1 = 0.8926 euros)

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