Cellnex reports strong rise in nine-month free cash flow, reduces net loss
Cellnex reports strong rise in nine-month free cash flow, reduces net loss Nov 5 (Reuters) - Europe's largest mobile phone tower operator Cellnex CLNX.MC on Thursday reported a 17% drop in its nine-month net loss, while its free cash flow more than doubled, helped by organic growth, lower investment spending and operating efficiencies.
The Spanish company also reiterated its 2026 and 2027 targets.
Net loss narrowed to €219 million from €263 million a year earlier
Revenue excluding pass-through items rose 2.4% to €3.01 billion
Free cash flow jumped to €474 million from €186 million a year ago as investment spending fell 22% to €860 million
The company reiterated its 2026 and 2027 guidance, including revenues of at least €4.08 billion this year and of €4.26 billion in 2027, and said it remains on track to return €1 billion to shareholders this year
It also said a new deal with Polkomtel in Poland would add about 3,200 co-locations to its portfolio by 2030 and support long-term cash generation
"We are selectively reinvesting where we see contracted opportunities to create attractive long-term returns," CEO Marco Patuano said in a statement.
(Reporting by Mireia Merino, editing by Andrei Khalip)
((Mireia.merino@thomsonreuters.com))