Telxius Revenues up 14% in Q2 on Marea Cable Capacity Sale
July 25, 2019
Telefonica’s infrastructure subsidiary Telxius reported second-quarter revenues up 14.2 percent from a year earlier on an organic basis to EUR 216 million thanks above all to the exceptional sale of capacity on its new Marea submarine cable across the Atlantic Ocean. The company’s tower revenues grew 10.9 percent year on year to EUR 88 million while cable revenues climbed 16.8 percent to EUR 128 million. Operating income before depreciation and amortisation (OIBDA) came in at EUR 124 million, up 10.2 percent year on year, while the margin fell 1.6 percentage points to 57.5 percent.
The tower business acquired 658 towers from Telefonica Peru plus 158 newly-built sites in the quarter to reach a total portfolio of 17,550 at the end of June, with the tenancy ratio up slightly to 1.36x.
Capex fell 7.5 percent year on year to EUR 94 million after deployment of the Marea and Brusa (Brazil-Puerto Rico-US) submarine cables was completed.