MADRID (Reuters) -Spain’s Cellnex, Europe’s largest mobile phone tower operator, said on Friday its core earnings in the first quarter rose 2.6%, in line with market expectations, as it kept deploying towers in the countries it operates in.
Cellnex’s adjusted earnings before interest, taxes, depreciation and amortisation in the first quarter increased to 798 million euros ($896.47 million). Analysts polled by LSEG had expected 799.5 million euros.
However, its net loss widened to 49 million euros from 39 million a year ago, as a result of the cost of a plan to cut 209 jobs.
It reiterated its guidance for this year and its targets for 2027 despite global macroeconomic instability.
After reducing its debt to achieve an investment grade rating last year, Cellnex said it would work on raising its share price, through financial discipline and buybacks, and focus on cutting operating costs.
The company has sold assets in several countries to lower its debt and is now considering selling its Swiss unit, though not at any price.
($1 = 0.8902 euros)
(Reporting by Inti LandauroEditing by David Goodman)
