Deutsche Bank | Our sector outlook recognises that the share price performance of Cellnex (and Italy’s INWIT) will depend on thematic consolidation in telecommunications in general. Although we remain confident in the short-term strength of MSAs, the market continues to seek reassurance despite examples in Spain and the UK of strengthened contracts. The slowdown in the company’s revenue growth has been a setback, but this is due to a high…

Link Securities | Cellnex Finance, a wholly owned subsidiary of Cellnex, yesterday successfully completed the pricing of two series of euro-denominated bonds, intended for qualified investors, under its Euro Medium Term Note Programme (EMTN Programme) and guaranteed by Cellnex: I. Series A: for a total nominal amount of €750 million, maturing on 19 January 2031, which will accrue a coupon of 3.000% payable annually and will be issued at a…

Link Securities | Cellnex (CLNX) CEO Marco Patuano said in an interview with Expansión newspaper that his company plans to invest between €2.5 billion and €3 billion in the coming years in the purchase of land where its towers are located. Last year, the company created Celland, a subsidiary specialising in this type of business. Patuano also identified defence, densification, transport and energy as the central pillars of growth in…

Link Securities | The Board of Directors of Cellnex (CLNX), based on the authorisation granted by the General Shareholders’ Meeting held on 9 May 2025, agreed on Thursday to distribute part of the share premium reserve amounting to €500,000,000. This amount will be paid in two instalments: €250,000,000 in January 2026 and €250,000,000 in July 2026. The gross amount per share, as well as the detailed schedule (ex-dividend date, record…

Renta 4 | Revenues grew in line with estimates, up 1.1% (6% pro forma) thanks to pro forma organic growth of 4% in points of presence (the remainder coming from placements and BTS, lifting pro forma tower business revenues by 5.2%), with a margin rising slightly thanks to the management of operating expenses and rents, allowing pro forma organic growth in EBITDA after rents of 8.1%, improving our outlook due…