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    CLNX   ES0105066007

CELLNEX TELECOM, S.A.

(CLNX)
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Coronavirus, currencies, crimp second-quarter earnings at Spain's Telefonica

07/30/2020 | 12:35am EDT
FILE PHOTO: A general view shows the Telefonica headquarters in Madrid

Spain's Telefonica reported sagging quarterly earnings on Thursday, as measures to contain the coronavirus outbreak sapped demand for services including roaming and handset sales, but it reiterated guidance for organic revenue growth in 2022.

Telefonica launched a new plan to boost revenue in a crowded European sector long struggling to achieve strong growth last November, just a few months before the pandemic started sweeping its main markets: Spain, Britain, Germany and Brazil.

Reiterating guidance for an increase in the ratio of core earnings excluding capital expenditure over revenue in 2022, it maintained a 0.40 euros per share dividend and said it expected a "notable recovery in commercial activity" from June 2020.

Revenue fell 14.8% year on year on a reported basis, to 10.34 billion euros (9.38 billion pounds), compared with an analyst forecast provided by the company of 10.39 billion euros.

Core earnings before depreciation and amortisation (OIBDA) fell 25.3% to 3.315 million euros on a reported basis, below the consensus forecast, including the impact of an impairment charge in Argentina worth 109 million euros.

The unfavourable impact of foreign exchange movements increased in the second quarter, particular from its Brazilian business, dragging down OIBDA by 6.7 percentage points.

Telefonica's share price has been tracking gradually lower over the past five years, and investors have punished it with a 37% drop so far this year, compared with a 15% fall in the benchmark STOXX Europe 600 index.

(Reporting by Isla Binnie, editing by Inti Landauro and Ingrid Melander)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
CELLNEX TELECOM, S.A. 0.42% 53.02 Delayed Quote.23.56%
EURO / ARGENTINE PESO (EUR/ARS) -0.39% 113.1425 Delayed Quote.11.28%
EURO / BRAZILIAN REAL (EUR/BRL) 0.83% 6.0361 Delayed Quote.-4.47%
STOXX EUROPE 600 -1.58% 452.05 Delayed Quote.15.11%
STOXX EUROPE 600 NR -1.58% 1010.56 Delayed Quote.16.74%
SWISSCOM AG -0.49% 528.6 Delayed Quote.11.34%
TELEFÓNICA, S.A. -1.75% 3.966 Delayed Quote.24.39%
US DOLLAR / ARGENTINE PESO (USD/ARS) 0.03% 95.38 Delayed Quote.13.36%
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Financials
Sales 2021 2 394 M 2 842 M 2 842 M
Net income 2021 -120 M -142 M -142 M
Net Debt 2021 11 666 M 13 853 M 13 853 M
P/E ratio 2021 -292x
Yield 2021 0,12%
Capitalization 36 007 M 42 688 M 42 756 M
EV / Sales 2021 19,9x
EV / Sales 2022 14,9x
Nbr of Employees 2 008
Free-Float 87,6%
Chart CELLNEX TELECOM, S.A.
Duration : Period :
Cellnex Telecom, S.A. Technical Analysis Chart | CLNX | ES0105066007 | MarketScreener
Technical analysis trends CELLNEX TELECOM, S.A.
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 25
Average target price 61,61 €
Last Close Price 52,80 €
Spread / Highest target 49,6%
Spread / Average Target 16,7%
Spread / Lowest Target -31,8%
EPS Revisions
Managers and Directors
NameTitle
Tobías Martínez-Gimeno Chief Executive Officer & Executive Director
José Manuel Aisa Mancho CFO & Director-Corporate Development
Bertrand Boudewijn Kan Non-Executive Chairman
Sergio Tórtola Pérez Operations Director
Pierre Blayau Independent Director
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