Abertis' telecommunications subsidiary to operate as Cellnex Telecom from 1 April
Barcelona-based Abertis' telecommunications subsidiary, Abertis Telecom Terrestre, will operate as Cellnex Telecom, S.A. from 1 April, as approved by the company's Shareholder General Assembly on Tuesday. The new name and brand are part of the preparations for a potential stock market flotation, as announced last October in the context of Abertis' 2015-2017 Strategic Plan. However, neither the Catalan group's President Salvador Alemany, nor Vice President and CEO, Francisco Reynés, have set a precise date yet for its admission to trading, which will be announced during this year's first semester. The new company's slogan will be "driving telecom connectivity".
Salvador Alemany, President of Abertis, on Tuesday (by J. Molina) / ACN
First published: March 24, 2015 10:28 PM
Barcelona (ACN).- Barcelona-based Abertis' telecommunications subsidiary, Abertis Telecom Terrestre, will operate as Cellnex Telecom, S.A. from 1 April, as approved by the company's Shareholder General Assembly on Tuesday. The new name and brand are part of the preparations for a potential stock market flotation, as announced last October in the context of Abertis' 2015-2017 Strategic Plan. However, neither the Catalan group's President Salvador Alemany, nor Vice President and CEO, Francisco Reynés, have set a precise date yet for its admission to trading, which will be announced during this year's first semester. The new company's slogan will be "driving telecom connectivity".
Abertis Telecom Terrestre, soon to become Cellnex Telecom, S.A., currently serves over 100 million people throughout Europe. The Catalan multinational company remains steadfastly committed to the international expansion of its activities and aims to support the rollout of new generation infrastructures for the adoption of 4G and, in the future, of 5G. According to its press release, the new name and brand symbolise the start of a new stage where the company is the process of re-founding itself.
In early March, the Catalan group – through its telecommunications subsidiary – reached an agreement with Italian mobile telephone operator Wind for the purchase of 7,377 mobile phone towers in the Mediterranean country for a total of €693 million. In so doing, Abertis Telecom Terrestre has become the "largest European operator of telecommunications infrastructure for mobile telephony and audiovisual broadcasting", as was announced through a press release.
Barcelona-based Abertis, a global leader in toll road management and one of the world leading telecommunications infrastructure operators, is currently present in 12 countries both in Europe and the Americas, playing an especially important role in Spain, France, Brazil and Chile.
In the midst of the global economic crisis, the Catalan group closed the 4-year period 2011-2014 with a market cap increase of 50%, going from a capitalisation of around €10 billion to one of around €15 billion.
During the 2011-2014 period, Abertis paid out over €3 billion in dividends to its shareholders, with a 7% annual increase on the ordinary dividend, according to its own press release. In 2014 alone the amount of dividend paid out amounted to almost €600 million, 5% higher than the amount paid out in 2013.
At the same time, the company has invested a total of €8 billion (€8,000 million) in acquisitions and expansion, entering the Brazilian and Puerto Rican markets and strengthening its presence in Chile. It has also grown in the telecommunications sector by taking control of Hispasat and entering the mobile telephone tower market.
In 2014, Abertis' net profit rose to €655 million, a 6.2% increase on the previous year's figures, and the group's operating income stood at €4.89 billion, registering a 7% increase in comparison with 2013.
Vice President and CEO Francisco Reynés explained that the new 2015-2017 Strategic Plan focuses on two main streams: the consolidation of the toll road management and telecommunication businesses, and the company's internationalisation.
FranceBusinessCatalan CompaniesMultinationalBrazilAbertisSalvador AlemanyTechnologyTelecommunicationsMobile PhonesCell PhonesItalyNew TechnologiesChileCatalan TechnologyTollsroadsFrancisco ReynésCellnex Telecom