INWIT tumbles on outlook cut, deteriorating ties with anchor tenants

Swisscom AG

20/03/2026 09:23

** Shares in INWIT INWT.MI extend Thursday's losses and fall about 10% as the towers company cut its 2026 and mid-term outlook

** On Thursday, peers Telecom Italia TLIT.MI and Swisscom SCMN.S Fastweb announced plans to build 6,000 telecom towers across Italy, sending INWIT shares 16% lower

** INWIT sees 2026 revenue between 1.05-1.09 billion euros ($1.22-1.26 billion), with an EBITDA margin of 90%

** Broker Equita sees the margin revision  as "surprising", noting the remaining outlook suggests an ex-growth scenario with low visibility and weakened ties with anchor tenants

** Broker Intermonte says that possible low profit margins in the TIM-Fastweb JV, which might help secure low anchor tenant rents, may dissuade INWIT from exercising its right of first refusal on economic grounds

** The stock hovers around its lowest level since January 2019

** YTD, INWIT shares are down about 21%

($1 = 0.8637 euros)

(Enrico Sciacovelli)

((Enrico.sciacovelli@thomsonreuters.com))