Board Change • May 15
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Cynthia Gordon was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 01
First quarter 2026 earnings released First quarter 2026 results: €0.03 loss per share. Revenue: €984.0m (down 8.4% from 1Q 2025). Net loss: €20.0m (loss narrowed 59% from 1Q 2025). Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Telecom industry in Europe. Duyuru • Mar 30
Cellnex Telecom, S.A., Annual General Meeting, Apr 29, 2026 Cellnex Telecom, S.A., Annual General Meeting, Apr 29, 2026. Location: paseo de la castellana 81, madrid., Spain Reported Earnings • Mar 03
Full year 2025 earnings released: €0.53 loss per share (vs €0.051 loss in FY 2024) Full year 2025 results: €0.53 loss per share (further deteriorated from €0.051 loss in FY 2024). Revenue: €4.42b (up 8.6% from FY 2024). Net loss: €360.8m (loss widened €332.7m from FY 2024). Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Telecom industry in Europe. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jan 06
Upcoming dividend of €0.37 per share Eligible shareholders must have bought the stock before 13 January 2026. Payment date: 15 January 2026. The company is not currently making a profit and its cash payout ratio is 81%. Trailing yield: 1.4%. Lower than top quartile of British dividend payers (5.5%). Lower than average of industry peers (4.8%). Reported Earnings • Nov 07
Third quarter 2025 earnings released Third quarter 2025 results: €0.22 loss per share. Revenue: €995.0m (down 18% from 3Q 2024). Net loss: €148.0m (down 153% from profit in 3Q 2024). Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Telecom industry in Europe. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 01
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: €1.07b (up 3.5% from 2Q 2024). Net loss: €66.0m (loss narrowed 83% from 2Q 2024). Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Telecom industry in Europe. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. New Risk • Aug 01
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.8x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. This is currently the only risk that has been identified for the company. Upcoming Dividend • Jun 09
Upcoming dividend of €0.017 per share Eligible shareholders must have bought the stock before 16 June 2025. Payment date: 18 June 2025. The company is not currently making a profit but it is cash flow positive. Trailing yield: 0.2%. Lower than top quartile of British dividend payers (5.6%). Lower than average of industry peers (3.9%). Declared Dividend • May 12
Dividend reduced to €0.017 Dividend of €0.017 is 0.4% lower than last year. Ex-date: 16th June 2025 Payment date: 18th June 2025 Dividend yield will be 0.2%, which is lower than the industry average of 4.7%. Reported Earnings • May 09
First quarter 2025 earnings released First quarter 2025 results: €0.069 loss per share. Revenue: €964.0m (up 1.9% from 1Q 2024). Net loss: €49.0m (loss widened 26% from 1Q 2024). Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Telecom industry in Europe. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Duyuru • Apr 07
Cellnex Telecom, S.A., Annual General Meeting, May 08, 2025 Cellnex Telecom, S.A., Annual General Meeting, May 08, 2025. Location: calle de larra 14., madrid Spain Duyuru • Apr 02
Cellnex Is Said to Kick Off €2 Billion Sale of Switzerland Unit Cellnex Telecom, S.A. (BME:CLNX) has kicked off a sale of its majority stake in its Swiss business, which could fetch as much as €2 billion ($2.2 billion), according to people with knowledge of the matter. Cellnex is working with JPMorgan Chase & Co. and Societe Generale SA on the potential sale, the people said, asking not to be identified as information is private. Marketing materials were sent out last week, they said. Duyuru • Mar 18
Cellnex Telecom Announces Appointment of Maria Alonso Alcaide as Its Global Director of Brand and Content Cellnex Telecom announced the appointment of Maria Alonso Alcaide as its new Global Director of Brand and Content, tasked with strengthening the company's communications strategy in the ten countries in which it currently operates. She will be part of the Public and Corporate Affairs and Communications team led by Ignacio Jimenez Soler. Duyuru • Mar 01
Phoenix Tower International LLC completed the acquisition of Cellnex Ireland Limited and Cignal Infrastructure Limited from Cellnex Telecom, S.A. (BME:CLNX). Phoenix Tower International LLC agreed to acquire Cellnex Ireland Limited and Cignal Infrastructure Limited from Cellnex Telecom, S.A. (BME:CLNX) for €970 million on March 5, 2024.
The closing of this transaction is subject to regulatory approvals and Competition and Consumer Protection Commission (CCPC). Cellnex will use the proceeds of this deal to reduce its debt. As of July 25, 2024, Commission is unable, at this stage, to make a determination that the result of the Proposed Transaction will not be to substantially lessen competition in any market for goods or services in the State. Accordingly, the Commission intends to carry out a full investigation under section 22 of the Act. As of November 12, 2024, The assessment sets out the CCPC’s preliminary concerns about how the proposed acquisition could reduce competition in the passive infrastructure sector. Based on the timelines as set out in the CCPC’s merger review process, it is expected that the full investigation will conclude no later than February 2025. As of February 7, 2025, Ireland's Competition Authority has approved the sale of 100% of Cellnex's business in the country to Phoenix Tower International. The approval of the Irish Competition Authority is one of the regulatory approvals that the operation had to pass and now the final phase of the process prior to the formal closing of the transaction is underway, which will be completed in the coming weeks.
Nomura is serving as exclusive financial advisor and Connor Manning, Patrick Horan, Ailish Finnerty, Deirdre Sheehan, Aaron Boyle, Louise O’Byrne, and Olivia Mullooly of Arthur Cox is serving as legal counsel to PTI. Barclays and Santander are serving as financial advisors and George Brady, Katherine Hall, Rachael Toland Burke, Conor Blennerhassett, Hilda Wrixon, Niall Collins, Simon Shinkwin, Jessica Brannigan, Zainab Masood, Patricia Einfeldt and Kelly McGann of Matheson is serving as legal counsel to Cellnex.
Phoenix Tower International LLC completed the acquisition of Cellnex Ireland Limited and Cignal Infrastructure Limited from Cellnex Telecom, S.A. (BME:CLNX) on February 28, 2025. Phoenix Tower International has acquired 100% of Cellnex's business in Ireland for approximately €971 million. Following the closing and as announced in January, the Company will start its share buyback programme of up to €800 million. Reported Earnings • Feb 26
Full year 2024 earnings released Full year 2024 results: Revenue: €3.94b (up 3.6% from FY 2023). Net loss: €28.0m (loss narrowed 91% from FY 2023). Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Telecom industry in Europe. Duyuru • Jan 15
Cellnex Telecom, S.A. (BME:CLNX) announces an Equity Buyback for €800 million worth of its shares. Cellnex Telecom, S.A. (BME:CLNX) announces a share repurchase program. Under the program, the company will repurchase up to €800 million worth of its common stock. The purpose of the program is to take advantage of the current level of the share price and reduce the company's share capital by amortising said shares. The repurchase plan is valid till December 2025. Reported Earnings • Nov 12
Third quarter 2024 earnings released Third quarter 2024 results: EPS: €0.39. Revenue: €1.22b (up 7.2% from 3Q 2023). Net income: €278.1m (up €282.6m from 3Q 2023). Profit margin: 23% (up from net loss in 3Q 2023). Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Telecom industry in Europe. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Declared Dividend • Nov 11
First half dividend of €0.046 announced Shareholders will receive a dividend of €0.046. Ex-date: 19th November 2024 Payment date: 21st November 2024 Dividend yield will be 0.2%, which is lower than the industry average of 4.7%. Reported Earnings • Aug 02
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: €975.0m (up 10% from 2Q 2023). Net loss: €379.0m (loss widened 270% from 2Q 2023). Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Telecom industry in Europe. Declared Dividend • Jun 03
Dividend of €0.017 announced Shareholders will receive a dividend of €0.017. Ex-date: 13th June 2024 Payment date: 17th June 2024 Dividend yield will be 0.2%, which is lower than the industry average of 4.7%. Reported Earnings • Apr 26
First quarter 2024 earnings released First quarter 2024 results: €0.055 loss per share. Revenue: €946.0m (down 4.0% from 1Q 2023). Net loss: €39.0m (loss narrowed 57% from 1Q 2023). Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Telecom industry in Europe. Duyuru • Mar 21
Cellnex Telecom, S.A., Annual General Meeting, Apr 25, 2024 Cellnex Telecom, S.A., Annual General Meeting, Apr 25, 2024, at 11:30 Central European Standard Time. Location: Vandergoten street, 1, (Building of the Royal Tapestry Factory), 28014 Madrid Spain Agenda: To consider the individual annual accounts and management report and the consolidated annual accounts and management report (financial statements) for the year ended 31 December 2023; to consider the non-financial information contained in the consolidated management report for the year ended 31 December 2023; to consider the allocation of profit or loss for the year ended 31 December 2023; to consider the Board of Directors's management and activity in the year ended 31 December 2023; to consider the appointment of the auditors of the Company and its consolidated group for the financial year 2025, 2026 and 2027; to consider the re-election of directors; o consider the annual report on directors' remuneration for the year ended 31 December 2023; and to consider the other matters. Reported Earnings • Mar 02
Full year 2023 earnings released Full year 2023 results: Revenue: €4.05b (up 25% from FY 2022). Net loss: €297.0m (flat on FY 2022). Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Telecom industry in Europe. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 6% per year. Duyuru • Mar 01
Boldyn Networks Communications Uk Limited completed the acquisition of Edzcom Oy from Cellnex Telecom, S.A. (BME:CLNX). Boldyn Networks Communications Uk Limited agreed to acquire Edzcom Oy from Cellnex Telecom, S.A. (BME:CLNX) on November 10, 2023. Cellnex's private networks business unit -the Edzcom team- will become part of Boldyn's Group Strategy team as a strategic part of the company's future growth. The transaction is subject to customary regulatory and other consents and It’s expected to close in Q1 2024. DLA Piper LLP (US) acted as legal advisor to Boldyn Networks Communications Uk Limited. Bird & Bird Attorneys Ltd acted as legal advisor and PwC Corporate Finance as Financial advisor to Edzcom Oy and Cellnex Telecom, S.A.
Boldyn Networks Communications Uk Limited completed the acquisition of Edzcom Oy from Cellnex Telecom, S.A. (BME:CLNX) on March 01, 2024. Duyuru • Feb 15
Asterion, SBA Communications and Phoenix Reportedly Circle Cellnex's Irish Unit SBA Communications Corporation (NasdaqGS:SBAC), Phoenix Tower and Asterion Industrial Partners are vying for Cellnex Telecom, S.A. (BME:CLNX) Irish unit, according to five sources familiar with the matter. Mobile phone tower operator Cellnex is advised by Santander (SAN.MC), and Barclays (BARC.L), on the deal and binding offers from the three parties are expected next week, three of the sources added, speaking on condition of anonymity. A deal would value Cellnex's Irish unit, which manages almost 2,000 sites in the country, close to EUR 1 billion ($1.08 billion), the fourth person said. Cellnex declined to comment. Duyuru • Feb 02
Cellnex Telecom, S.A. Names Daniel Pataki as New Director of Regulation and European Affairs Cellnex Telecom, S.A. has announced the appointment of Daniel Pataki as the group's new Director of Regulation and European Affairs. Pataki will report directly to Cellnex CEO Marco Patuano, and will join the Group's Executive Committee. Duyuru • Jan 23
Cellnex Reportedly Considers Polish Unit Stake Sale, Taps Advisers Cellnex Telecom, S.A. (BME:CLNX)is considering selling a minority stake in its Polish operations, four sources close to the talks said, which would be the latest asset disposal by the mobile phone tower operator as it seeks to reduce its debt. Any deal would likely value the Polish unit above EUR 3 billion (USD 3.27 billion) excluding debt, two of the people said. Cellnex is working with advisers including JPMorgan to evaluate the sale of a stake in its Polish business, as it seeks to raise financing for a potential agreement with Iliad Group in Poland, said the people, who spoke on condition of anonymity. BNP Paribas is also working on the sale, one of the people said. Cellnex and Iliad are in talks over a possible arrangement for the Spanish company to expand the telecoms infrastructure that it manages for Iliad in Poland, a second person said. A formal sale process for the stake is scheduled to kick off before the summer, the sources said. However, the plans may still be changed or dropped, they cautioned. Spokespeople for Cellnex, JPMorgan and BNP declined to comment. Iliad did not respond to requests for comment. Duyuru • Dec 01
Stonepeak Partners LP completed the acquisition of 49% interest in Cellnex Sweden and Cellnex Denmark from Cellnex Telecom, S.A. (BME:CLNX). Stonepeak Partners LP reached an agreement to acquire a 49% interest in Cellnex Sweden and Cellnex Denmark from Cellnex Telecom, S.A. (BME:CLNX) for €730 million on September 29, 2023. Cellnex will continue to manage the day-to-day business of Cellnex Nordics and consolidate the results of its operations. Cellnex will use the proceeds of this deal to reduce its debt, in line with the objectives set in November 2022 which prioritize organic growth and achieving an investment grade credit rating by S&P. The transaction is subject to regulatory approvals and is expected to be completed by the first quarter of 2024 at the latest. Nomura International Plc is serving as lead financial advisor, Guggenheim Securities is serving as financial advisor to Stonepeak Partners LP. Gavin Williams, Casey Dalton, Veronica Roberts, Nicolás Martín, Daniel Alaminos from Herbert Smith Freehills LLP acted as legal advisors to Stonepeak. Setterwalls Advokatbyrå Ab and Plesner Advokatpartnerselskab acted as legal advisors and advised on Swedish and Danish aspects to Stonepeak Partners LP. AZ Capital is serving as financial advisor to Cellnex. Jorge Adell, Nick Rainsford and John Gustafson of Baker & McKenzie LLP are serving as legal counsels to Cellnex.
Stonepeak Partners LP completed the acquisition of 49% interest in Cellnex Sweden and Cellnex Denmark from Cellnex Telecom, S.A. (BME:CLNX) on November 30, 2023. Buying Opportunity • Nov 25
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 2.2%. The fair value is estimated to be €42.00, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 31% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 21% in 2 years. Earnings is forecast to grow by 84% in the next 2 years. Duyuru • Nov 21
Cellnex Reportedly Plans to Sell Assets in Austria, Ireland Spanish mobile phone masts operator Cellnex Telecom, S.A. (BME:CLNX) plans to sell its Austrian and Irish businesses or stakes in the two units as part of its strategy to cut its debt, newspaper Cinco Dias reported on November 20, 2023 citing unidentified market sources. A spokesperson for Cellnex declined to comment. Cellnex which had fuelled its fast expansion in many European countries through debt for several years, has switched to focus on reducing debt and upgrading its credit rating by next year. In September, Cellnex had announced the sale of a 49% stake in its Swedish and Danish units to infrastructure investor Stonepeak for €730 million ($796.21 million). Duyuru • Nov 12
Boldyn Networks Communications Uk Limited agreed to acquire Edzcom Oy from Cellnex Telecom, S.A. (BME:CLNX). Boldyn Networks Communications Uk Limited agreed to acquire Edzcom Oy from Cellnex Telecom, S.A. (BME:CLNX) on November 10, 2023. The transaction is subject to customary regulatory and other consents and It’s expected to close in Q1 2024. DLA Piper LLP (US) acted as legal advisor to Boldyn Networks Communications Uk Limited. Bird & Bird Attorneys Ltd acted as legal advisor, Bird & Bird Attorneys Ltd acted as legal advisor to Edzcom Oy and Cellnex Telecom, S.A. (BME:CLNX). Reported Earnings • Nov 12
Third quarter 2023 earnings released Third quarter 2023 results: €0.006 loss per share. Revenue: €1.14b (up 14% from 3Q 2022). Net loss: €4.56m (loss narrowed 95% from 3Q 2022). Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Telecom industry in Europe. Duyuru • Oct 25
Cellnex Telecom, S.A. Announces CFO Changes Cellnex Telecom has announced the appointment of Raimon Trias as the group's new chief financial officer, replacing Jose Manuel Aisa, who will step down on 31 October. Trias has more than 20 years of experience in industrial groups including Nueva Pescanova, Celsa and Natra, where he is currently CFO and a member of its board of directors. Duyuru • Oct 19
Cellnex Telecom, S.A. Announces Appointment of Luca Luciani as Managing Director Cellnex Telecom, S.A. announced appointment of Luca Luciani as the new managing director of its Italian unit, succeeding Gianluca Landolina, who takes over at the helm of Cellnex UK. Buying Opportunity • Aug 11
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 5.6%. The fair value is estimated to be €44.65, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 34% over the last 3 years. Earnings per share has declined by 24%. Revenue is forecast to grow by 24% in 2 years. Earnings is forecast to grow by 75% in the next 2 years. New Risk • Jul 28
New minor risk - Financial position The company has less than a year of cash runway based on its current free cash flow. Free cash flow: -€275m This is considered a minor risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Minor Risks Less than 1 year of cash runway based on current free cash flow (-€275m). Shareholders have been diluted in the past year (5.1% increase in shares outstanding). Duyuru • Jul 27
Cellnex Reportedly Explores Sale of a Slice in 1 Billion Euros Worth Sweden, Denmark Units Spain’s Cellnex Telecom, S.A. (BME:CLNX) is exploring a sale of a stake in its Nordic operations that could value the unit at to EUR 1 billion ($1.11 billion), people familiar with the matter said, as the company looks to pay down debt. The telecoms group is working with bankers at AZ Capital, a Spanish boutique financial advisory firm, to gauge interest in its Swedish and Denmark operations, said the people, who spoke on condition of anonymity. Upcoming Dividend • Jun 07
Upcoming dividend of €0.017 per share at 0.1% yield Eligible shareholders must have bought the stock before 14 June 2023. Payment date: 16 June 2023. Trailing yield: 0.1%. Lower than top quartile of British dividend payers (5.8%). Lower than average of industry peers (4.3%). Board Change • May 03
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director María Ballester Fornés was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 28
First quarter 2023 earnings released First quarter 2023 results: €0.13 loss per share. Revenue: €985.0m (up 19% from 1Q 2022). Net loss: €90.0m (loss narrowed 3.2% from 1Q 2022). Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 1.6% growth forecast for the Telecom industry in Europe. Buying Opportunity • Mar 17
Now 21% undervalued Over the last 90 days, the stock is up 9.4%. The fair value is estimated to be €43.49, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 40% over the last 3 years. Earnings per share has declined by 49%. Revenue is forecast to grow by 30% in 2 years. Earnings is forecast to grow by 65% in the next 2 years. Reported Earnings • Mar 02
Full year 2022 earnings released Full year 2022 results: Revenue: €3.50b (up 44% from FY 2021). Net loss: €297.0m (loss narrowed 16% from FY 2021). Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Telecom industry in Europe. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Buying Opportunity • Feb 23
Now 20% undervalued Over the last 90 days, the stock is up 6.5%. The fair value is estimated to be €45.56, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 42% over the last 3 years. Earnings per share has declined by 61%. For the next 3 years, revenue is forecast to grow by 7.1% per annum. Earnings is also forecast to grow by 53% per annum over the same time period. Reported Earnings • Nov 16
Third quarter 2022 earnings released Third quarter 2022 results: €0.13 loss per share. Revenue: €996.0m (up 34% from 3Q 2021). Net loss: €84.7m (loss widened 8.4% from 3Q 2021). Revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Telecom industry in Europe. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Reported Earnings • Jul 28
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: €862.0m (up 68% from 2Q 2021). Net loss: €77.0m (loss widened 222% from 2Q 2021). Over the next year, revenue is forecast to grow 19%, compared to a 3.0% growth forecast for the industry in the United Kingdom. Reported Earnings • May 01
First quarter 2022 earnings released First quarter 2022 results: €0.14 loss per share. Revenue: €828.0m (up 64% from 1Q 2021). Net loss: €93.0m (loss widened 116% from 1Q 2021). Over the next year, revenue is forecast to grow 29%, compared to a 2.6% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 101 percentage points per year, which is a significant difference in performance. Buying Opportunity • Apr 28
Now 20% undervalued Over the last 90 days, the stock is up 13%. The fair value is estimated to be €55.77, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 37% over the last 3 years. Earnings per share has declined by 85%. Revenue is forecast to grow by 55% in 2 years. Earnings is forecast to grow by 81% in the next 2 years. Buying Opportunity • Mar 22
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 13%. The fair value is estimated to be €54.24, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 37% per annum over the last 3 years. Earnings per share has declined by 85% per annum over the last 3 years. Breakeven Date Change • Mar 04
Forecast breakeven date pushed back to 2024 The 22 analysts covering Cellnex Telecom previously expected the company to break even in 2023. New consensus forecast suggests losses will reduce by 90% per year to 2023. The company is expected to make a profit of €75.4m in 2024. Average annual earnings growth of 61% is required to achieve expected profit on schedule. Reported Earnings • Feb 27
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: €0.58 loss per share (down from €0.35 loss in FY 2020). Revenue: €2.53b (up 62% from FY 2020). Net loss: €351.4m (loss widened 164% from FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 38%, compared to a 3.0% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 91 percentage points per year, which is a significant difference in performance. Reported Earnings • Oct 31
Third quarter 2021 earnings released: €0.12 loss per share The company reported a mediocre third quarter result with increased losses and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: €741.9m (up 67% from 3Q 2020). Net loss: €78.1m (loss widened 91% from 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 110 percentage points per year, which is a significant difference in performance. Breakeven Date Change • Sep 23
Forecast to breakeven in 2023 The 21 analysts covering Cellnex Telecom expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of €105.6m in 2023. Average annual earnings growth of 67% is required to achieve expected profit on schedule. Reported Earnings • Jul 30
Second quarter 2021 earnings released The company reported a mediocre second quarter result with increased losses and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: €553.3m (up 60% from 2Q 2020). Net loss: €23.9m (loss widened 82% from 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 100 percentage points per year, which is a significant difference in performance. Breakeven Date Change • Jul 30
Forecast breakeven moved forward to 2022 The 17 analysts covering Cellnex Telecom previously expected the company to break even in 2023. New consensus forecast suggests losses will reduce by 39% to 2021. The company is expected to make a profit of €736.5k in 2022. Average annual earnings growth of 87% is required to achieve expected profit on schedule. Breakeven Date Change • Jul 09
Forecast breakeven pushed back to 2023 The 15 analysts covering Cellnex Telecom previously expected the company to break even in 2022. New consensus forecast suggests losses will reduce by 68% per year to 2022. The company is expected to make a profit of €162.7m in 2023. Average annual earnings growth of 78% is required to achieve expected profit on schedule. Breakeven Date Change • Jun 26
Forecast breakeven pushed back to 2023 The 16 analysts covering Cellnex Telecom previously expected the company to break even in 2022. New consensus forecast suggests losses will reduce by 59% per year to 2022. The company is expected to make a profit of €143.2m in 2023. Average annual earnings growth of 77% is required to achieve expected profit on schedule. Upcoming Dividend • Jun 08
Upcoming dividend of €0.017 per share Eligible shareholders must have bought the stock before 15 June 2021. Payment date: 17 June 2021. Trailing yield: 0.1%. Lower than top quartile of British dividend payers (4.0%). Lower than average of industry peers (4.4%). Reported Earnings • May 13
First quarter 2021 earnings released: €0.088 loss per share The company reported a mediocre first quarter result with increased losses and weaker control over costs, although revenues improved. First quarter 2021 results: Revenue: €506.0m (up 41% from 1Q 2020). Net loss: €43.0m (loss widened 43% from 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 96 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Mar 06
New 90-day low: €40.66 The company is down 18% from its price of €49.83 on 04 December 2020. The British market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Telecom industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €27.83 per share. Is New 90 Day High Low • Feb 11
New 90-day low: €45.58 The company is down 16% from its price of €53.98 on 12 November 2020. The British market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Telecom industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €20.21 per share. Is New 90 Day High Low • Jan 06
New 90-day low: €47.66 The company is down 10.0% from its price of €52.96 on 08 October 2020. The British market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Telecom industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €17.76 per share. Is New 90 Day High Low • Dec 22
New 90-day low: €49.27 The company is down 5.0% from its price of €51.92 on 22 September 2020. The British market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Telecom industry, which is up 23% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €18.51 per share. Is New 90 Day High Low • Dec 04
New 90-day low: €49.43 The company is down 4.0% from its price of €51.42 on 04 September 2020. The British market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Telecom industry, which is up 25% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €23.83 per share. Upcoming Dividend • Nov 16
Upcoming Dividend of €0.036 Per Share Will be paid on the 25th of November to those who are registered shareholders by the 23rd of November. The trailing yield of 0.1% is below the top quartile of British dividend payers (5.0%), and is lower than industry peers (4.6%). Analyst Estimate Surprise Post Earnings • Nov 06
Revenue beats expectations Revenue exceeded analyst estimates by 0.6%. Over the next year, revenue is forecast to grow 31%, compared to a 9.0% growth forecast for the Telecom industry in the United Kingdom. Reported Earnings • Nov 06
Third quarter 2020 earnings released: €0.11 loss per share The company reported a mediocre third quarter result with increased losses and weaker control over expenses, although revenues were improved. Third quarter 2020 results: Revenue: €445.3m (up 58% from 3Q 2019). Net loss: €40.8m (loss widened 255% from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 75% per year but the company’s share price has increased by 40% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Oct 31
New 90-day high: €55.12 The company is up 3.0% from its price of €53.63 on 31 July 2020. The British market is down 4.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Telecom industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €24.76 per share.