At a Glance:
- Cellnex reports a 63% rise in earnings in 2021.
- Cellnex is competing with American Tower Corp to increase its foothold in Europe.
- By 2030 it aims to control 130,000 masts in 12 European countries.
Cellnex has reported earnings are grown by 63% in adjusted core earnings in 2021 to $2.15 billion. The telecom operating is looking to expand into Germany Europe’s largest mobile phone tower operator.
Cellnex earnings is competing with American Tower Corp to expand its European footprint before the launch of 5G. The goal is to control around 130,000 masts in 12 European countries by 2030. Cellnex is planning to spend 9 billion Euros on acquisition this year.
Cellnex expanding its presence
Cellnex will be exploring the German market as it is the only big Western European country where the company is not present. The same was confirmed by the Chief executive of Cellnex, Tobias Martinez.
He said, “We would love to be in Germany but after six years (existing as a company) and being present in 12 countries this company does not depend on being in Germany.”
Cellnex earnings has reported for 58% surge in revenue for 2021 by beating its target and analyst estimates.
Cellnex plans for 2022
The analysts have predicted that Cellnex earnings before interest, taxes, depreciation, and amortization, will grow between 2.65 billion Euros and 2.7 billion Euros while the revenues are estimated to reach around 3.51 billion Euros by 2022.
In 2021, Cellnex invested 1.09 billion Euros for increasing stakes in companies in France and Poland fulfilling the purchase rights for Iliad and Play. It is anticipated that Cellnex will be spending 1.1 billion Euros it may raise from antitrust sales required by France and potentially in Britain. Cellnex will be waiting for approval in March for a planned 10 billion Euro deal to buy towers from Hong Kong’s CK Hutchinson.
