Cellnex loses 15 million for its staff adjustment plan - My Blog

Cellnex loses 15 million for its staff adjustment plan

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Cellnex loses 15 million for its staff adjustment plan

The telecommunications operator ensures that, without these effects, its result is a profit of 31 million euros, five more than in 2017

  The workforce adjustment plan carried out during 2018 led Cellnex Telecom to close the year with losses of 15 million euros, despite having won 26 million a year earlier. According to the operator of telecommunications infrastructures to the National Securities Market Commission (CNMV) on Friday, the losses are due to the costs of early retirement and voluntary redundancies in its Spanish subsidiaries Tradia and Retevisión, which had an impact of 46 millions of euros.

  Also, the company said that this amount will still have its consequence in the results of 2019. Of course, he indicated that the comparable net result, that is, without these effects, stands at 31 million euros, five more than last year. . In addition, the evolution of the business has allowed them to increase their revenues by 14% to 901 million euros, while the gross profit (Ebitda) stood at 591 million, 18% more than in 2017.

The CEO of Cellnex, Tobías Martínez , stressed that this is the fourth consecutive year with double-digit growth in the key indicators of the group. “It is a reflection of the operations of growth and expansion of the perimeter since the IPO in May 2015. Since then, Cellnex has multiplied the key magnitudes by two and by four the number of sites we manage in six European countries,” he explained. .

The company specializing in the management of telecommunications towers estimates its gross profit for this year between 640 and 655 million , well above the past. In addition, it plans to increase the dividend by 10%, in line with the policy agreed for the period 2017-19.

For Cellnex Spain it is the second most important market , with 28% of revenues. The first is Italy, with 48%, and in third place France, with 7%.

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