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Cellnex reports smaller net loss in 2019, core earnings reach target

BARCELONA, Feb 26 (Reuters) - Cellnex, Europe’s largest mobile phone towers operator, reported Wednesday its net loss narrowed in 2019 from the year before and added its core earnings were in-line with its target.

The company said it lost 9 million euros ($9.78 million) in 2019 compared to 15 million euros the year before.

The cell-tower operator said its earnings before interest, taxes, depreciation and amortization (Ebitda) rose 16% in 2019 to 686 million euros. The company had said in November it expected 2019 Ebitda would be between 680 million and 685 million.

$1 = 0.9201 euros Reporting by Joan Faus, Edited by Inti Landauro

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