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Cellnex profits drop to €33 million in 2017
Cellnex closed the year 2017 with a net profit of €33 million, 17.5% less than a year earlier due to the effect of higher depreciation and financial costs associated with the significant growth of the group, in a year in which investments in acquisitions reached €1.2 billion. The teleco recorded revenues of €792 million, 12% up on the previous year, and its gross operating profit stood at €355 million, up 22% on 2016. CEO Tobias Martinez said the 2017 performance was “very good” despite the results.
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