By Mauro Orru

 

Cellnex Telecom SA said Thursday that its net loss in the first nine months widened amid higher costs for acquisitions as the group targets geographic expansion.

The Spanish wireless-telecommunications company posted a net loss of 145 million euros ($168.2 million) compared with EUR84 million in the first nine months last year.

Cellnex has struck sizeable acquisition deals in Poland, the Netherlands and France this year, with investments of roughly EUR9 billion.

Deals include an agreement with Polish media and telecommunications group Cyfrowy Polsat SA to buy its subsidiary Polkomtel Sp zoo, a separate deal with Altice France and Starlight Holdco Sarl to buy telecoms tower company Hivory, and an agreement with Deutsche Telekom AG to merge their Dutch mobile communications infrastructure companies.

Cellnex said revenue in the first nine months climbed to EUR1.76 billion from EUR1.15 billion, while adjusted earnings before interest, taxes, depreciation, and amortization rose to EUR1.33 billion from EUR838 million.

The company confirmed its targets for the year, with revenue expected in excess of EUR2.50 billion and adjusted Ebitda of more than EUR1.90 billion.

 

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

 

(END) Dow Jones Newswires

October 28, 2021 11:57 ET (15:57 GMT)

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