Cellnex Telecom (OTC) ( (CLNXF) ) has released its Q3 earnings. Here is a breakdown of the information Cellnex Telecom (OTC) presented to its investors.
Cellnex Telecom, a leading telecommunications infrastructure operator in Europe, manages a portfolio of over 138,000 sites across 12 countries, providing shared telecommunications infrastructure services to reduce access barriers and enhance connectivity. As part of the IBEX35 and Euro Stoxx 100, Cellnex is committed to sustainability, featuring prominently on major indices like CDP and FTSE4Good.
In its latest earnings report for the first nine months of 2024, Cellnex Telecom reported revenues of €2,903 million, marking a 7% increase compared to the previous year. The company achieved a 9.5% growth in Points of Presence (PoPs) at its sites, and organic EBITDAaL grew by 9.8%, reflecting strong operational performance. Additionally, Cellnex continues to focus on generating free cash flow, reducing debt, and enhancing shareholder returns.
Key financial highlights include an EBITDAaL of €1,723 million, a 8.9% increase from the previous year, and a free cash flow of €326 million. The company is progressing with strategic asset sales in Austria and Ireland, with plans to accelerate shareholder returns post-completion. Cellnex’s net financial debt stands at approximately €17,500 million, with 80% at a fixed rate.
Strategic advancements include new and extended partnerships in key markets, such as a long-term agreement with Vodafone UK and Virgin Media O2, and an ongoing negotiation with MasOrange in Spain. Cellnex is also reinforcing its commitment to renewable energy, aiming for 100% renewable electricity consumption by 2025.
Looking ahead, Cellnex management remains optimistic about meeting their strategic objectives, emphasizing contract extensions and market expansion. The company plans to enhance shareholder returns while maintaining its investment-grade rating and financial stability.
