July 26, 2019 / 6:14 AM / 4 months ago

Spain's Cellnex expects to reach top end of 2019 earnings target

MADRID, July 26 (Reuters) - Cellnex, Europe’s biggest phone towers group, said on Friday it was on track to reach the high end of its financial target for the full year, thanks to a 10% rise in first-half core earnings.

Adjusted core earnings before interest, tax, depreciation and amortisation (EBITDA) rose to 321 million euros ($357 million) between January and June from 291 million euros in the same period of the previous year.

The Spanish company is set to reach the upper half of its original EBITDA target range of 640-655 million euros for the full year, Chief Financial Officer Jose Manuel Aisa told Reuters, saying he now expected 647-655 million euros. (Reporting by Andrés González and Isla Binnie; Editing by Mark Potter)

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