Cellnex closed the first three quarters of the year with losses of 263 million euros, 87% more than in the same period of the previous year, and a turnover of 2,937 million, 5.7% more proforma and (excluding Ireland and Austria), reported in the documentation sent to the National Securities Market Commission (CNMV) this Thursday.
The telecommunications tower and infrastructure company that until September They rate the results as solid and have announced a compensation plan for the shareholders.
Between January and September, the owner of telecommunications towers obtained revenues of 2,937 million euros, which represents a pro forma organic growth of 5.7% excluding Ireland and Austria.
The adjusted Ebitda was 2,436 million, 6.9% more, while the EbidaaL was 1,787 million, 7.5% more.
Specifically, the firm has announced that it will distribute dividends from the portion of the import share premium reserve of 500 million euros and that it will launch a share buyback program for another 500 million. 1,000 million euros in total for the next year.
The dividend will be made in two tranches of 250 million payable in January 2026 and July 2026, and the gross amount per share and the detailed schedule will be communicated in the future.
The purpose of the buyback program is to «reduce the company’s capital stock through the redemption of shares,» and of the total, 300 million have already been committed and 200 million will come from the sale of data centers in France.
In the period January-September 2025, Cellnex recorded revenues of 2,937 million euros, which represents a pro forma organic growth of 5.7% (excluding Ireland and Austria). Adjusted EBITDA increased to €2,436 million (+6.9%), while EBITDAaL reached €1,787 million (+7.5%).
Recurring leveraged free cash flow (RLFCF) amounted to €1.3 billion (+9.4%), with RLFCF per share growth of 13.2%, supported by the impact of share buybacks. Free cash flow (FCF) stood at €187 million.
Capital investment (CapEx) totaled 195 million euros, 44% more than in the same period in 2024, driven mainly by investment in land and efficiency programs. Operational indicators include 2,998 new BTS PoPs, 2,054 net new co-locations and a customer ratio of 1.60x.
As of September 30, 2025, Cellnex has 111,064 operational sites: 26,717 in France, 22,687 in Italy, 17,447 in Poland, 13,691 in the United Kingdom and 8,863 in Spain —the Group’s five main markets—, in addition to 21,659 locations in the rest of the countries in which it operates (6,743 in Portugal, 5,636 in Switzerland, 4,061 in the Netherlands, 3,496 in Sweden and 1,723 in Denmark).
Additionally, the portfolio includes 2,005 broadcasting and other uses sites, along with a total of 14,757 DAS and Small Cells nodes.