Cellnex Cuts Its Losses By 40%, Down To €9 M; Exceeds €1 Bn In Revenue

Today Cellnex presented its 2019 results, with a 40% reduction in losses, reported at 9 million euros. Cellnex increased its revenue to more than 1 billion (EUR 1.035 billion), which is a 15% year-on-year improvement. Group EBITDA increased by 16% year-on-year to EUR 686 million and net operating profit (EBIT) was 142 million euros. However, the 32% increase in net financial interest (the group has debt of EUR 3.938 billion, compared with EUR 3.166 billion in 2018) resulted in a net loss of 9 million euros (versus a loss of 15 million in 2018). The Board of Directors has approved the dividend policy for the 2020-2022 period, which remains at a rise of 10% per year.

During the results presentation, Cellnex and Bouygues Telecom announced an agreement to deploy and operate a fibre optic network in France to accelerate the deployment of 5G in that country. A 31,500 kilometer network will connect Bouygues’ telecommunication towers, 5,000 of which are owned by Cellnex. The planned investment will be 1 billion euros until 2027.