EQS-News: EuroTeleSites reports revenues of mEUR 63.9 and an EBITDAaL Margin of 56.6% in Q1/2024

EQS-News: EuroTeleSites AG / Key word(s): Quarterly / Interim Statement
EuroTeleSites reports revenues of mEUR 63.9 and an EBITDAaL Margin of
56.6% in Q1/2024

16.04.2024 / 19:02 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Highlights

• Revenues amounted to mEUR 63.9, on track to achieve growth target
• EBITDA at mEUR 54.4 with EBITDA margin at 85.1%
• EBITDAaL at mEUR 36.2 with EBITDAaL margin at 56.6%, up from 55.7% at
year-end 2023
• CAPEX at mEUR 12.6, driven by mandatory site upgrades
• Rollout of 49 new macro sites and onboarding of 53 third party (MNO)
tenants on EuroTeleSites‘ location; in total 13,496 macro sites
• “Our solid performance in the first quarter of 2024 reflects our
growth model that we set out when listing at the Vienna Stock Exchange
last year,” said CEO Ivo Ivanovski

Relevant documentation on the results can be found at the following link:

[1] https://eurotelesites.com/investor-relations/

+[2]Data Book
+[3]Results Presentation

The investor call will take place on April 17th at 08:00 GMT or 10:00
CEST.

EuroTeleSites, a leading provider of telecommunications infrastructure and
solutions in the CEE region and Europe’s third largest listed tower
company, reported revenues of mEUR 63.9 and an EBITDAaL margin of 56.6%,
in line with the company’s targets in the first quarter of 2024.
While the overall economic activity in the first three month of 2024
remained subdued, EuroTeleSites onboarded 84 new tenants across all
markets, including 53 third-party partners from various industries and
business areas. The company now operates 13,496 sites across six markets,
up from 13,465 at the end of the year.

Despite the quarterly variation in construction activity, EuroTeleSites
completed 49 new sites during the first quarter of 2024, investing around
14% of CAPEX. The company spent the majority of CAPEX for mandatory
upgrades of the towers for the anchor tenant A1. This resulted in a total
CAPEX of mEUR 12.6 and a CAPEX ratio of 19.7%, in line with the company’s
business plans. “Our solid performance in the first quarter of 2024
reflects our growth model that we set out when listing at the Vienna Stock
Exchange last year,” said CEO Ivo Ivanovski. “We’re set to benefit from an
improved economic activity and faster digitalization across all industries
in our region. I’m particularly pleased that we managed to onboard 84 new
tenants across our six markets, confirming our attractive offer for our
customers.”

The reporting period was characterized by several milestones, with one
highlight being the acquisition of a 3.6 GhZ and 26 GhZ spectrum in
Austria by the three mobile network operators A1, Magenta and Hutchison.
In midterm the new spectrum potentially be positive for data growth and
locations demand. In addition, mandatory upgrades and new sites for the
anchor tenant A1 are on track.

Financial Results
The company´s business model, driven by increased data demand, resulted in
a robust performance across key metrics in the first quarter of 2024. This
is reflected both in revenues amounting to mEUR 63.9, and EBITDAaL at
mEUR 36.2. Both figures are in line with expectations and targeted
margins. The EBITDAaL margin of 56.6% (year-end 2023: 55.7%) is at a level
that demonstrates the high profitability of the business.

„We carried over the good momentum with which we started as an independent
company and further developed our growth potential,” said CFO Lars
Mosdorf. “We signed contracts with new tenants and third parties,
resulting in a stable tenancy ratio of 1.23x with a higher number of
sites, allowing us to keep our outlook for our business unchanged. For the
whole year, we’re expecting revenue growth of about 5%.”

EuroTeleSites expects CAGR revenue to grow between 4% to 6%, targets a
CAPEX ratio of 20% of revenues, and plans to further increase its tenancy
ratio from the current 1.23x. In addition, the company will explore
non-MNO business opportunities, develop an ESG strategy as it prepares for
CSRD compliance and work towards finishing the installation of a digital
asset management software by the end of the year.

 

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16.04.2024 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: 1881829

 
End of News EQS News Service

1881829  16.04.2024 CET/CEST

References

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