Cellnex closed the first quarter of the year in the red by 43 million euros, up from the 30 million it lost a year earlier, due to the effect of higher amortisations and financial costs associated with “the intense process of acquisitions and the consequent expansion of the perimeter”.
Since January Cellnex has announced growth operations in France, the Netherlands and Poland with an associated investment of 9 billion euros. It has also completed the integration of the assets of CK Hutchison in Sweden and Play in Poland. Now, after successfully completing the EUR 7 billion capital increase, the company continues to be on the lookout for new opportunities.
In its income statement, its main indicators continue to reflect the expansion of the perimeter – following the integrations in 2020 and the first months of 2021 – and the strength of the group’s organic business.
Firstly, its net accounting result was in the red by 43 million euros, up from the 30 million lost in the same period a year earlier, due to “the effect of higher depreciation (+58% compared to the first quarter of 2020) and financial costs (+33%) associated once again with the intense process of acquisitions and the consequent expansion of the perimeter.