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Inwit ( (IT:INW) ) has provided an announcement.
INWIT’s board has reviewed its relationship with key anchor tenants TIM and Fastweb, now aligned with Vodafone assets under Swisscom, amid rising contractual tensions and a proposed joint venture between the operators to build new Italian mobile towers. The company argues that this planned JV conflicts with long-term Master Service Agreements signed in 2020, under which INWIT invested about €10 billion to acquire tower infrastructure and was designated preferred supplier for new sites.
Management says the increasingly confrontational stance of TIM and Fastweb, combined with reduced discretionary investments by tenants, is weighing on growth plans and has already hit INWIT’s share price. As a result, INWIT has cut its 2026 guidance, now projecting revenues of €1.05–1.09 billion, an EBITDA margin of about 90%, EBITDAaL margin around 72%, recurring free cash flow of €550–590 million, and leverage at 5.5 times, while pledging to keep dividends at least in line with 2025.
Looking to the medium term, INWIT now assumes only low single-digit annual revenue growth, continued EBITDAaL margin expansion, and roughly €200 million of yearly capex, while maintaining its leverage target range of 5–6 times and a minimum dividend of €0.55 per share. The company notes these projections exclude any potential upside from restoring a more constructive relationship with its anchor tenants, renewed network densification, or broader expansion across digital infrastructure, underscoring the strategic importance of resolving its dispute with TIM and Fastweb.
The most recent analyst rating on (IT:INW) stock is a Hold with a EUR9.50 price target. To see the full list of analyst forecasts on Inwit stock, see the IT:INW Stock Forecast page.
More about Inwit
Infrastrutture Wireless Italiane (INWIT) is an Italian telecommunications infrastructure company that owns and manages mobile tower assets across the country. It provides passive infrastructure services, including hosting for mobile network operators, with a business model based on long-term contracted revenues and a focus on supporting network evolution and densification for major telecom tenants such as TIM and Fastweb.
Average Trading Volume: 4,407,898
Technical Sentiment Signal: Sell
Current Market Cap: €6.23B
Find detailed analytics on INW stock on TipRanks’ Stock Analysis page.