Vodafone: Vantage Towers Portfolio Has Increased, Reaffirms Targets Ahead of Vantage IPO
February 15 2021 - 2:05AM
Dow Jones News
By Joe Hoppe
Vodafone Group PLC said its Vantage Towers portfolio rose over
the first nine months of fiscal 2021 and reaffirmed its full year
targets, ahead of the planned spin-off of the European telecom
tower company.
The U.K. telecommunications group said Vantage Towers' portfolio
in the nine months ended Dec. 31 rose by 450 new macro sites to
82,000 macro sites, with a presence in 10 European markets. Around
1,400 new tenancies were added over the period, and new agreements
were signed with Eir and Three in Ireland, and Spanish industry
body AOTEC.
Vodafone said that in the first nine months, Vantage Towers'
revenue was 725 million euros ($878.7 million), while adjusted
earnings before interest, taxes, depreciation and amortization was
EUR620 million.
The company reaffirmed its fiscal 2021 targets for Vantage
Towers, including a recurring cash flow of EUR375 million-EUR385
million, and an adjusted Ebitda of EUR520 million-EUR530 million,
after adjusting to reflect accounting reassessments under
accounting standard IFRS 16.
Vodafone said Vantage Towers is on track for a total dividend
payout of EUR280 million for fiscal 2021.
Vodafone said on Feb. 3 that an initial public offering of
Vantage Towers is firmly on track for early 2021.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
February 15, 2021 02:50 ET (07:50 GMT)
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