Cellnex keeps outlook after acquisitions boost H1 earnings

BARCELONA: Spain’s Cellnex reported on Thursday first-half core earnings of 1.28 billion euros ($1.29 billion), a 59% year-on-year increase, as it benefitted from its expansion plans and rising revenue. The company kept its 2022 outlook.

However, the net loss at Europe’s largest mobile phone tower operator doubled to 170 million euros due to higher amortisation and costs from its 2021 acquisitions.