Cellnex Telecom, the leading Spanish telecommunications-infrastructure company, has announced that it expects to achieve a positive free cash flow earlier than anticipated. Previously targeting a neutral free cash flow by the end of the year and turning positive in 2024, Cellnex Telecom now forecasts a free cash flow ranging between 100 million euros and 150 million euros ($106.7 million-$160.1 million) for this year.
In addition to this positive development, Cellnex Telecom has reported a reduced pretax loss for the first nine months of the year. The company’s pretax loss stood at EUR198 million, a significant improvement compared to EUR255 million for the same period last year.
Moreover, Cellnex Telecom has experienced growth in its revenue. In the first nine months of the year, the company’s revenue rose to EUR3.01 billion from EUR2.57 billion, indicating a noteworthy increase.
Adjusting for various factors including interest, taxes, depreciation, and amortization, Cellnex Telecom’s adjusted earnings also showed positive growth. The company’s adjusted earnings before interest, taxes, depreciation, and amortization rose to EUR2.25 billion from EUR1.94 billion, highlighting a substantial increase.
Cellnex Telecom has maintained its outlook for adjusted Ebitda and revenue for 2023, excluding energy costs reinvoiced to customers. However, the company has signaled that it expects lower revenue from energy pass-through.
These positive financial results position Cellnex Telecom as a strong player in the telecommunications industry, demonstrating its ability to generate improved financial performance. With its optimistic forecast for free cash flow and ongoing growth in revenue and earnings, Cellnex Telecom is poised for continued success.
