Cellnex : Accelerating organic growth leads to good, in-line results
>Results in line, with faster organic growth: PoPs +6.8%, revenues +7.9% - Cellnex’s Q1 2023 results were in line with our estimates (recurring EBITDA of € 730m vs € 730m for ODDO BHFe). Organic growth remained strong, accelerating to a 6.8% increase in PoPs in Q1 2023 excluding acquisitions, which was slightly above the initial guidance for >5% provided by the company, mainly thanks to an acceleration of the co-location up to 3.6% from the 2.9% reported in FY 2022. ...Cellnex Telecom SA is a Spain-based company engaged in the wireless telecommunications (telecom) business. Its activities are divided into three segments: Broadcasting infrastructure, Telecom site rental, as well as Network services and other. The Broadcasting infrastructure division comprises distribution and transmission of television (TV) and frequency modulation (FM) radio signals, operation and maintenance (O&M) of radio broadcasting network, as well as over-the-top (OTT) radio services, among others. The Telecom site rental division provides access to wireless infrastructure, primarily through infrastructure hosting and telecom equipment co-location, mainly for mobile network operators and other wireless and broadband telecom network operators. The Network services and other division offers connectivity services for a variety of telecom operators and radio communication, among others. The Company also develops 5th generation mobile networks (5G) through Alticom BV.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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