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Cellnex posts wider 2020 net loss, expects 2021 core earnings to rise over 50%

BARCELONA, Feb 26 (Reuters) - Spanish phone tower operator Cellnex reported on Friday a 133 million euro ($161.36 million) net loss for 2020, widening fourteen-fold from the previous year, and said it expects core earnings to increase over 50% in 2021.

Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 72% to 1.18 billion euros in 2020, in line with the company’s outlook. In 2021, Cellnex expects Ebitda of between 1.82 billion and 1.86 billion.

Cellnex had said its bottom line would remain negative in 2020 due to larger amortizations and financial costs stemming from its active acquisition process. ($1 = 0.8243 euros) (Reporting by Joan Faus; Editing by Nathan Allen)

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