Vodafone says Vantage Towers reaches ten markets as confirms guidance

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Vodafone Group PLC (LON:VOD) said its Vantage Towers Portfolio has expanded and confirmed guidance for 2021. 

The statement revealed Vantage Towers’ portfolio increased to around 82,000 macro sites, expanding its presence in 10 European markets – with leading positions in 9 of them. 

Vantage said it is also focusing on becoming a 5G ‘superhost’ in Europe, offering bespoke solutions for 5G connectivity across various verticals, including manufacturing, healthcare, e-gaming and agriculture.

READ: Vodafone confident on cash flow despite slow sales

In the nine months to December 31, the telecoms infrastructure firm added 1,400 new tenancies and 450 sites, so it’s “confident” of hitting its target of 550 new sites by the end of the financial year in March. Adjusted underlying earnings (EBITDA) came in at €620mln.

It also reaffirmed guidance of recurring free cash flow of €375-385mln.

The statement did not contain any updates on the Frankfurt IPO, which is expected for early this year.

Shares rose 1% to 135.4p early on Monday.

–Adds shares–

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