Attributed to the expansion of tower deployment, the telecoms giant also reported a 7% rise in revenues to €2.9 billion ($3.11 billion).
Meanwhile, Cellnex reported a reduced net loss of €140 million compared to €198 million during the same period last year. The company attributed this year’s loss to negative impacts from its assets in Austria, among other factors.
Subscribe today for free
According to the company, the sale of its Austrian unit is planned before the year ends, with the sale of its Ireland business expected in the first quarter of 2025.
The company also revealed it is in discussions with credit rating agencies to explore the possibility of accelerating shareholder returns in 2025.
Meanwhile, Cellnex also revealed it has entered into a Power Purchase Agreement (PPA) to procure renewable electricity, further solidifying its goal of achieving 100% renewable electricity consumption by 2025, as part of its Energy Transition Plan outlined in the ESG Master Plan 2021-2025.
Cellnex CEO, Marco Patuano, said: “The strength of our key indicators quarter after quarter – from revenues to cash flow to key business metrics related to the expansion of points of presence at our sites – in line with our short and medium-targets and thus confirming the outlook for 2024.
“Furthermore, we are making progress in extending and broadening contracts with our customers in the main markets in which we operate.”
He added: “In just over a year, we’ll have achieved many of the main strategic objectives we set for the next chapter of Cellnex, which we expect to complete with the acceleration of shareholder returns –once the sales deals in Ireland and Austria have been completed– thus fulfilling each and every one of our commitments to the market.”
RELATED STORIES
