- 4.8% revenue growth YoY resulted in mEUR 70.0 revenues
- EBITDA in Q2 at mEUR 58.8 with EBITDA margin at 83.9%
- EBITDAaL in Q2 at mEUR 39.4 with EBITDAaL margin at 56.3%
- Rollout of 62 new sites in Q2 leads to 13,700 total sites
- Onboarding of 77 new tenants on existing and new sites in Q2
- CAPEX at mEUR 10.3, with more investments for rollout vs Q2/2024 driven by 62 new sites built
- Digitalization is progressing with the launch of two important software tools
The first half of 2025 has seen cautious optimism in the global and CEE telecom markets. The sector remains resilient, with steady growth, infrastructure investment in CEE, and improving EBITDA margins driven by cost control and operational efficiency. AI is increasingly used for network automation, predictive maintenance, and analytics, while satellite broadband is intensifying competition in rural areas. Telcos are responding by bundling broadband with cloud and enterprise services to protect margins and boost engagement.
“The first half of 2025 has once again proven EuroTeleSites operational excellence and delivery. We have reached a total of 13,700 sites, 5.3% revenue growth and 7.5% EBITDAaL growth in comparison of the previous half year. Smart investments and disciplined lease management will remain a priority in the years ahead. As a neutral host for all mobile network operators across CEE, we enable fair, efficient, and scalable network expansion that creates long-term value for all stakeholders”, says Ivo Ivanovski, CEO EuroTeleSites.
Financial Figures
In the second quarter, EuroTeleSites achieved revenues of mEUR 70.0, marking a year over year increase of mEUR 3.2 (+4.8%). This growth was primarily driven by the contractual inflation adjustments effective from 1 April 2025, and the expansion of third-party business relationships across the CEE region. 62 new sites were built in Q2 – 27 greenfield and 35 rooftop – bringing the total sites to 13,700. The newly constructed towers also contributed to revenue growth, as they generated additional rental income and further strengthened the network infrastructure.
EBITDA reached mEUR 58.8 in Q2, resulting in a strong margin of 83.9%. The slight decrease compared to the previous year reflects the impact of higher lease costs associated with the rollout of new sites and inflation-linked adjustments under existing contracts.
EBITDAaL stood at mEUR 39.4, with a margin of 56.3%, underlining the recurring profitability of the business. This development is in line with expectations, as the company continues to invest in infrastructure expansion while maintaining disciplined cost control and operational efficiency.
Capital expenditures amounted to mEUR 10.3, focused on mandatory 5G upgrades and rollouts. The 62 new sites built and the onboarding of 77 new tenants – including 39 third-party tenants – demonstrate EuroTeleSites role as a neutral host and key enabler of digital infrastructure in CEE. The successful go-live of the group-wide asset management platform “Sitetracker” further strengthen the foundation for sustainable growth.
„The successful launch of Sitetracker in May marks a key milestone in the digitalization of our tower operations. As a state-of-the-art asset management platform, Sitetracker enables us to manage all 13,700 sites efficiently and transparently. In cooperation with Farseer – our new financial planning software – we are continuously optimizing our processes,”, says Lars Mosdorf, CFO EuroTeleSites. “The confirmation of our investment grade rating by Moody’s and the positive impact of recent refinancing measures, reflected in lower interest costs, further support our solid financial performance. With targeted infrastructure investments across CEE and a clear focus on innovation, we are well positioned for the second half of 2025 and beyond.“
Outlook
Looking ahead, the demand for digital connectivity will further accelerate as technologies like 5G, IoT, AI, and cloud services continue to shape how we live and work. As user expectations rise and data consumption grows, the industry must invest in smart, future-proof solutions, balancing innovation with cost-efficiency. The ability to adapt quickly to shifting market needs and regulatory landscapes will be key to capturing growth and delivering long-term value.
Accordingly, the outlook for EuroTeleSites remains optimistic: For 2025, EuroTeleSites reaffirms its financial guidance, anticipating revenue growth of approximately ~4% (excluding the one-time effects in 2024). The CAPEX outlook remains unchanged, expected to represent around ~20% of revenues. In parallel, EuroTeleSites continues to strengthen its financial position by further reducing debt, aiming to uphold its investment grade ratings from Moody’s and Fitch.
Please find detailed information on the key data and segments at https://eurotelesites.com/investor-relations/.
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