Reuters | May 07, 2020 17:00
BARCELONA (Reuters) - Cellnex (MC:CLNX), Europe's largest mobile phone towers operator, posted on Thursday a 64% rise in first-quarter core earnings, slightly beating forecasts, even as it swung to a net loss of 30 million euros(26.18 million pounds)due to acquisitions.
The Barcelona-based company said its adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose to 260 million euros, while its operating revenues grew 49%, to 358 million euros.
A poll of analysts provided by Cellnex had put EBITDA at 259 million euros and operating income at 360 million euros.
The company turned to a net loss due to higher amortizations and financial costs related to its ambitious expansion throughout Europe, Chief Financial Officer Jose Manuel Aisa told Reuters.
Written By: Reuters
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