Cellnex, Spanish multinational group leader of transmission towers tops i first nine months of 2022. The Spanish company of the towers has scored revenues equal to 2,572 billion euros (+46%), while theEbitda adjusted grew to 1,937 billion euros (+45%) thanks - explains the company - to organic growth and the consolidation of the various acquisitions made in 2021 and operating profit jumped to 137 million, from 117 million. Confirmation also arrived with the accounts.acquisition of the activities of the telecommunication towers of CK Hutchison in the UK. The agreement, together with the boom in profits and revenues in the third quarter of 2022, is particularly supportive of the title, which gains more than 2% on the Spanish Stock Exchange (after reaching a peak of 6 points during the day).
“We had a strong third quarter driven by organic growth,” he commented Tobias Martinez, CEO of Cellnex –. Based on our experience successfully integrating acquisitions over the months and years, we continue to deliver double-digit increases in revenue, EBITDA and recurring cash flow. This gives us confidence in our goals for the year. “In the medium term,” adds the manager, “we see further momentum coming from our plans to build more than 21 new sites by 2030 for our existing customers, as well as significant potential in key growth areas. We expect sustained demand for Fiber-to-the-Tower, DAS, transport connectivity projects, edge data centers and RAN sharing projects, as evidenced by our agreement with Polkomtel in Poland.”
Cellnex: what were the results of the first 9 months of 2022
Cellnex closes on third quarter 2022 with a jump in revenues and double-digit profits but one perdita of 255 million euros, an increase from last year's loss of 145 million. This is due to higher depreciation (+52% compared to the first nine months of 2021) and financial charges (up by 28% compared to the first nine months of 2021) again linked to the consolidation of group acquisitions and integrations and the consequent expansion of its geographical presence.
Cellnex concludes with the purchase of Ck Hutchinson towers in the United Kingdom
Cellnex announced that it has completed the acquisition of the assets of telecommunications towers by CK Hutchison in the United Kingdom, after the British Competition and Markets Authority (CMA) accepted the definitive commitments proposed by the two companies and following Cellnex's agreement to transfer around 1.100 of Cellnex's existing sites to the infrastructure operator British telecommunication Wireless Infrastructure Group (WIG). As the Spanish group points out, this closes the last transaction included in the agreements stipulated between Cellnex and Ck Hutchison in November 2020 which envisaged the acquisition by Cellnex of Hutchison's telecommunications sites in 6 European countries (Austria, Ireland, Denmark, Sweden, Italy e Kingdom Unito). These six transactions amount to a total investment of €10 billion, and the agreements also foresee the installation of new sites by 2030, representing a further investment of €1,15 billion.
The total transaction perimeter will therefore amount to approx 30.000 sites by 2030, once all programs are completed, with an adjusted annual Ebitda of approximately 970 million euros and a leveraged recurring free cash flow of approximately 620 million euros.
As expected, and previously announced, in connection with the November 2020 settlements, upon completion of the UK transaction, CK Hutchison received approximately 34,1 million shares (approximately 27,1 million newly issued shares and 7 million treasury shares) representing approximately 4,8% of Cellnex's share capital, as part of the consideration for this transaction.
