EQS-News: EuroTeleSites Reports Revenue Increase to mEUR 68 with an EBITDAaL Margin of 58% in Q3/2024
EQS-News: EuroTeleSites AG / Key word(s): Quarterly / Interim Statement
EuroTeleSites Reports Revenue Increase to mEUR 68 with an EBITDAaL Margin
of 58% in Q3/2024
15.10.2024 / 19:00 CET/CEST
The issuer is solely responsible for the content of this announcement.
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• Revenues in Q3/2024 amounted to mEUR 68.0, aligns with expectations
• EBITDA at mEUR 58.4 with EBITDA margin at 86%
• EBITDAaL at mEUR 39.6 with EBITDAaL margin at 58%
• CAPEX at mEUR 13.7, most of it is invested in location upgrades
• Rollout of 35 new macro sites with a total of 13,568 macro sites
• Onboarding of 69 new tenants, whereof 53 third-party MNO tenants on
EuroTeleSites locations
• “We are pleased to report that we improve our results each quarter.
Revenue growth of 1.8%, EBITDA growth of 3.1% and EBITDAaL growth of
3.8% vs. the previous quarter is a testament to the strength of our
business model, and I am proud to see this as a clear validation of
our concept”, says Ivo Ivanovski, CEO of EuroTeleSites
With one year in operations, EuroTeleSites, has positioned itself as a
reliable and trustworthy partner within the mobile tower industry, being
the third largest listed TowerCo in Europe. Seeing the mobile data volume
in Austria surged by 17% in Q1*, clearly underscores the need for a robust
mobile infrastructure. EuroTeleSites’ vision is Building Europe’s Digital
Infrastructure: ensuring the assets meet both current and future customer
demands.
As an independent infrastructure provider, EuroTeleSites is being closely
intertwined with mobile communications operators in the region. The
company reports another successful quarter: in total, EuroTeleSites
onboarded 69 new tenants across all markets compared to Q2. This includes
53 third-party tenants and the roll-out of 35 new sites, whereof 19 are
greenfield towers, and 16 being rooftop towers. Resulting in a total of
13,568 sites across its six markets in Austria, Bulgaria, Croatia, North
Macedonia, Serbia and Slovenia. The tenancy ratio remains at 1.24x.
“We are pleased to report that we improve our results each quarter.
Revenue growth of 1.8%, EBITDA growth of 3.1% and EBITDAaL growth of 3.8%
vs previous quarter is a testament to the strength of our business model,
and I am proud to see this as a clear validation of our concept”, says Ivo
Ivanovski, CEO of EuroTeleSites. “A year after both spin-off and listing,
we can proudly say that we are well established in our day-to-day
business, that our processes are running smoothly, and we are a trusted
partner in the industry”.
CAPEX spent in Q3/2024 was at mEUR 13.7, mainly attributed to mandatory
upgrades of existing towers and the continuous roll-out activities.
Furthermore, in some of the markets solar panels and battery storages are
added to the service portfolio. This also supports ESG measures to the
telco side. Expansion and upgrades were again characterized by high number
and speed in Q3/2024, owed according to the master lease agreement with
the anchor tenant. Here too, figures are in line with the business plan
2024.
As a listed company that is obliged to compliance, high standards have
been set across all markets in the area of corporate governance and
employees have been educated accordingly. Overall, trainings especially in
the areas of Safety at Work, Compliance and Data Security & Privacy, are
given high priority.
Financial Results
EuroTeleSites business model resulted in a stable performance across all
key metrics. In Q3/2024, the company generated revenues of mEUR 68.0, that
is +1.8% in comparison to Q2/2024. EBITDA is at mEUR 58.4, which is an
increase of +3.1% in comparison to Q2/2024, with an EBITDA margin at
85.9%. EBITDAal amounts to mEUR 39.6 (+3.8% to Q2/2024) with the EBITDAal
margin at 58.2%, indicating high profitability of EuroTeleSites.
“Q3/2024 results meet our expectations. With our high revenue visibility,
high margins and predictable cash flows from day one, we will be able to
deleverage according to our predictions,” says Lars Mosdorf, CFO of
EuroTeleSites.
Mandatory upgrades that make the towers ready for the anchor tenant´s
standard configuration and for a second tenant, and the rollout activities
resulted in a CAPEX of mEUR 13.7. The investment-grade ratings from
Moody’s (July 2024) and Fitch (September 2024) were recently reaffirmed,
reflecting our solid financial standing.
“Furthermore, ‘after around 70 investors’ dialogues until year end and a
share price increase of around 35% (YTD), we are seeing further potential.
Latest updates of analyst reports are supporting our optimism, evaluating
EuroTeleSites with a “buy” recommendation and seeing our share price at up
to 5.90 EUR”, says Mosdorf.
Outlook
The results for the first nine months of 2024 confirm the revenue forecast
for 2024 as a whole, it is even expected that the revenue guidance of 5%
will be exceeded. The guidance for CAPEX, which are expected to account
for around 20% of revenues, remains unchanged. EuroTeleSites maintains its
strategic outlook.
Please find detailed information on the key data and segments at
[1] https://eurotelesites.com/investor-relations/
The investor call will take place on October 16 at 10am Vienna time.
*Source: RTR Telekom Monitor Q1/2024
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15.10.2024 CET/CEST This Corporate News was distributed by EQS Group AG.
www.eqs.com
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Language: English
Company: EuroTeleSites AG
Lassallestraße 9
1020 Wien
Austria
E-mail: info@eurotelesites.com
Internet: eurotelesites.com
ISIN: AT000000ETS9
Listed: Vienna Stock Exchange (Official Market)
EQS News ID: 2009035
End of News EQS News Service
2009035 15.10.2024 CET/CEST
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