By Joan Faus

BARCELONA (Reuters) -Spain's Cellnex, Europe's largest mobile phone tower operator, will launch a share buyback programme worth 800 million euros ($840 million) on March 3 after closing the sale of its Ireland business, hoping this will help boost its share price as it continues to cut debt.

CEO Marco Patuano said on Wednesday he expected the towers sector to further consolidate and his focus was on strengthening Cellnex's presence in 10 European countries where it already operates - such as Spain, Denmark or Sweden - rather than entering new ones. He did not rule out exiting some markets.

"It's been a good year," Patuano told a press conference, underlining the improved financial metrics and the 6.5% increase in the company's number of towers and other assets.

Cellnex shares traded 4% higher at 1130 GMT, at 34.16 euros.

Cellnex has prioritised keeping a high investment grade rating from agencies and reducing debt. It now faces a balancing act as it seeks to lift the share price without shedding the discipline that led to a strong rating.

Patuano said Cellnex would spend around 800 million euros again next year to boost shareholders remuneration, including an already committed 500-million-euro dividend plan while not ruling out launching another share buyback programme.

Cellnex reported an 8% hike in adjusted core earnings for 2024 as revenues grew 7.7% to 3.9 billion euros thanks to the deployment of more towers.

It booked a narrower net loss of 28 million euros from 297 million euros in 2023.

CFO Raimon Trias said the company aimed to swing back to profit but declined to specify a timeline. He highlighted that free cash flow doubled last year to 328 million euros.

The company slightly lowered its revenue and core earnings outlook for 2025 and 2027 after incorporating the impact of the sale of its Irish and Austrian businesses.

Cellnex expects 2025 revenues between 3.95 billion euros and 4.05 billion euros, and core earnings between 3.275 billion euros and 3.375 billion euros.

Its adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) reached 3.2 billion euros in 2024.

Cellnex reduced its net financial debt by 400 million euros between September and December of last year to 17.1 billion euros.

($1 = 0.9527 euros)

(Reporting by Joan Faus; Editing by David Latona, Alexandra Hudson)