Vodafone's Vantage Towers Unit Reports Financials Ahead of Planned IPO
By Adria Calatayud
Vodafone Group PLC's European telecommunications tower unit
Vantage Towers on Tuesday presented financial results for the first
time ahead of its planned initial public offering in Frankfurt next
Vantage, which owns around 68,000 tower sites across nine
countries, said pro forma adjusted earnings before interest, taxes,
depreciation and amortization after leases for the first half of
fiscal 2021 were 267 million euros ($316.5 million), in line with
management's expectations. Revenue for the six months to Sept. 30
was EUR479 million.
For the year ended March 31, the company's pro forma adjusted
Ebitda after leases was EUR680 million on revenue of EUR945
million. This includes its share of Infrastrutture Wireless
Italiane SpA's earnings for 2019, as Vantage owns a stake in the
Italian telecom-infrastructure company.
Vantage said commitments for 7,100 new sites are expected to
generate a contribution to adjusted Ebitda after leases of EUR130
million by fiscal 2027.
"We have a powerful base from which to capture exciting organic
and inorganic value accretive growth opportunities," Chief
Executive Vivek Badrinath said.
Vodafone on Monday said Vantage's IPO was on track for early
Write to Adria Calatayud at email@example.com
(END) Dow Jones Newswires
November 17, 2020 02:43 ET (07:43 GMT)
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