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James Ratzer
  • James Ratzer

MWC 2026 What caught our eye: Starlink and glasses!

We have just spent the past two days at Mobile World Congress (MWC) in Barcelona and amongst other things, we were taken by Starlink’s mobile announcement, wearable glasses and what wasn’t there on 6G.

Delphine Brault ... (+6)
  • Delphine Brault
  • Emira Sagaama
  • Juan Ros-Padilla
  • Luis de Toledo Heras
  • Marc Lavaud
  • Nathan Mietlicki
Delphine Brault ... (+6)
  • Delphine Brault
  • Emira Sagaama
  • Juan Ros-Padilla
  • Luis de Toledo Heras
  • Marc Lavaud
  • Nathan Mietlicki
Andres Bolumburu
  • Andres Bolumburu

CELLNEX: FY2025 RESULTS (ANÁLISIS BANCO SABADELL)

4Q'25 vs. 4Q'24 Results Sales: € 1.058 Bn (+1.9% vs. -1.4% BS(e) and +1.0% consensus); EBITDA: € 881.0 M (+2.1% vs. +0.1% BS(e) and +1.0% consensus); FY2025 vs. FY2024 Results Sales: € 3.995 Bn (+1.4% vs. +0.5% BS(e) and +1.1% consensus); EBITDA: € 3.317 Bn (+2.1% vs. +1.5% BS(e) and +1.8% consensus); Net Profit: € -361.0 M (€ -28.0 M in FY2024);

James Ratzer
  • James Ratzer

Cellnex (Buy, €34, +8%) Q4 25: Highest organic tenancy growth for 7 y...

We think Cellnex’s organic tower demand is the highest it has been for 7 years. We see that alone as supportive for the Cellnex story.

Andres Bolumburu
  • Andres Bolumburu

CELLNEX: RDOS. 2025 (ANÁLISIS BANCO SABADELL)

Rdos. 4T'25 vs 4T'24: Ventas: 1.058 M euros (+1,9% vs +1,4% BS(e) y +1,0% consenso); EBITDA: 881,0 M euros (+2,1% vs +0,1% BS(e) y +1,0% consenso). Rdos. 2025 vs 2024: Ventas: 3.995 M euros (+1,4% vs +1,2% BS(e) y +1,1% consenso); EBITDA: 3.317 M euros (+2,1% vs +1,5% BS(e) y +1,8% consenso); BDI: -361,0 M euros (-28,0 M euros en 2024).

Research Department
  • Research Department

IBERIAN DAILY 27 FEBRUARY + 4Q'25 RESULTS. PREVIEWS (ANÁLISIS BANCO SA...

NEWS SUMMARY: ACCIONA, ACCIONA ENERGÍA, ACERINOX, AMADEUS, CELLNEX, COLONIAL, ELECTRICITY SECTOR, FCC, GLOBAL DOMINION, GRIFOLS, IAG, MERLIN, OHLA, REDEIA, SACYR, SOLARIA, VISCOFAN. At the end of today’s report, and during the entire results season, we will include a presentation with positive and negative results highlights and previews for the 4Q’25 results to be released over the coming days in Spain. Doubts continue to plague Nasdaq, but software rallies after harsh punishment European s...

Research Department
  • Research Department

INFORME DIARIO 27 FEBRERO + RDOS. ESPAÑA Y EUROPA. PREVIEWS (ANÁLISIS ...

COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACCIONA, ACCIONA ENERGÍA, ACERINOX, AMADEUS, CELLNEX, COLONIAL, FCC, GLOBAL DOMINION, GRIFOLS, IAG, MERLIN, OHLA, REDEIA, S. ELÉCTRICO, SACYR, SOLARIA, VISCOFAN. EUROPA:.n/a. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 4T’25 que se publicarán en España y Europa en los próximos días. Siguen las dudas en e...

Rafael Bonardell
  • Rafael Bonardell

MELIÁ HOTELS: 4Q’25 RESULTS (ANÁLISIS BANCO SABADELL)

4Q'25 vs. 4Q'24 Results Sales: € 474.4 M (+0.7% vs. +0.9% BS(e) and -0.2% consensus); EBITDA: € 109.1 M (+1.3% vs. +0.8% BS(e) and -0.5% consensus); FY2025 vs. FY2024 Results Sales: € 2.078 Bn (+3.2% vs. +3.3% BS(e) and +3.0% consensus); EBITDA: € 544.9 M (+2.1% vs. +2.0% BS(e) and +1.7% consensus);

Rafael Bonardell
  • Rafael Bonardell
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