Cellnex's Nine-Month Loss Widened Amid String of Acquisitions
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
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
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 firstname.lastname@example.org; @MauroOrru94
(END) Dow Jones Newswires
October 28, 2021 11:57 ET (15:57 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.