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

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