Cellnex, 25,000 million purchases in 14 months: “We are the largest investors in Europe in telecommunications infrastructures”

In 2020, Cellnex revenues rose to 1,608 million euros, 55% above 2019, and EBITDA reached 1,182 million, 72% more than in the year previous. However, the final net result shows a loss of 133 million euros, in which the impact of depreciation is noted (94% more than in 2019) and all the financial costs associated with the acquisitions of a company that would bring together up to 128,000 telecommunications sites managed as a neutral operator. Likewise, net debt has increased to 6,500 million euros, 65% higher than that recorded at the end of the previous year.

MartÃnez has recognized the importance of gaining size for the company, which is encountering more and more rivals, from the tower businesses of telephone companies (such as Vodafone) to the emergence of giants from outside the continent (American Tower after purchasing Telxius infrastructures from Telefónica).

Cellnex, a Barcelona-based company spun off from Abertis, appreciated 38% in ibex in 2020, a year of pandemic and economic crisis. The forecasts of the group led by MartÃnez are equally optimistic: triple the current Ebitda for the year 2025, when they estimate that it will be between 3,300 and 3,500 million euros. Capex (investment in fixed assets) for the volume of income is around 3% for Cellnex, which intends to maintain this rate in the future; however, the rise of rivals for the management of telecommunications infrastructures could make future acquisitions more expensive and diminish in number.