Vodafone towers unit expects higher core earnings ahead of listing

FILE PHOTO: Different types of 4G, 5G and data radio relay antennas for mobile phone networks are pictured on a relay mast operated by Vodafone in Berlin, Germany April 8, 2019. REUTERS/Fabrizio Bensch

FRANKFURT (Reuters) – Vodafone’s VOD.L European towers unit, which is currently gearing up for a stock market listing, on Tuesday said its expects adjusted core earnings of up to 540 million euros (484.26 million pounds) next year.

Consolidated earnings before interest, tax, depreciation and amortisation, adjusted for special factors (EBITDAal), are expected to come in at 530-540 million euros in 2021. In 2020, adjusted EBITDal was 523 million euros.

Vodafone in July said that the listing of Vantage Towers would take place in early 2021 in Frankfurt.

Reporting by Christoph Steitz; editing by Thomas Seythal

source: reuters.com

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