Cellnex Telecom has revealed its financial performance and main achievements for the first half of 2024.
Cellnex Telecom, a leading telecom tower company, said its revenue rose 7.1 percent to €1.921 billion in the first half of 2024.
Sites for telecommunications operators contributed 82 percent of revenue, or €1.573 billion (c.+6 percent).
DAS, Small Cells and other Network services contributed 6 percent of revenue, or €123 million (c.+17 percent).
Fibre (wholesale), Connectivity and Co-Location Services (Housing) contributed 5 percent of revenue, or €96 million (c.+24 percent).
Broadcasting contributed 7 percent of revenue with €129 million (c.+3 percent).
Cellnex has 113,216 operational sites: 24,340 in France, 22,572 in Italy, 16,409 in Poland, 13,417 in the United Kingdom, 8,770 in Spain, the Group’s five main markets.
In addition, Cellnex has 27,708 sites in the other countries — 6,672 in Portugal, 5,518 in Switzerland, 4,654 in Austria, 3,992 in the Netherlands, 3,212 in Sweden, 1,666 in Denmark and 1,994 in Ireland). Besides, Cellnex has 1,903 broadcasting and other sites and 10,865 DAS nodes and Small Cells.
EBITDA after leases (EBITDAaL) stood at €1.114 billion (up 8.4 percent).
The recurring levered free cash flow (RLFCF) increased to €781 million from €741 million last year, and the free cash flow (FCF) reached €49 million vs negative €130 million in the same period of the previous year.
Marco Patuano, Cellnex CEO, said: “Our key organic indicators –from revenue to cash flow to the main business metrics relating to the expansion of points of presence at our sites – reflect a solid first half of the year, in line with our objectives.”
As part of the “Next Chapter” strategy, Cellnex in March announced the sale of its business in Ireland to Phoenix Tower International for c.€971 million. In addition, Cellnex is in advanced negotiations to sell Austrian business.