Finance
Spain’s Cellnex nine-month core earnings rise 6.1%
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Company
BARCELONA (Reuters) – Spain’s Cellnex, Europe’s largest
BARCELONA (Reuters) – Spain’s Cellnex, Europe’s largest mobile phone tower operator, on Monday reported a 6.1% hike in adjusted core earnings in the first nine months of the year as revenues grew 7% to 2.9 billion euros ($3.11 billion) thanks to the deployment of more towers.
Cellnex booked a narrower net loss of 140 million euros from 198 million euros in the same period of last year. It attributed the loss this year to a negative effect of its assets in Austria among other factors.
The company plans to sell its unit in Austria before the end of the year and its Ireland business in the first quarter of 2025, it said.
($1 = 0.9332 euros)
(Reporting by Joan Faus, editing by Inti Landauro)
Adjusted core earnings refer to a company's earnings before interest, taxes, depreciation, and amortization, adjusted for non-recurring items, providing a clearer view of operational performance.
A net loss occurs when a company's total expenses exceed its total revenues, indicating that the company has lost money during a specific period.
Revenue growth is the increase in a company's sales over a specific period, often expressed as a percentage, indicating the company's ability to expand its business.
Mobile phone towers are structures that support antennas and other equipment for transmitting and receiving mobile signals, essential for mobile communication networks.
A financial report is a formal record of the financial activities and position of a business, providing insights into its performance, including income, expenses, and profitability.
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