BARCELONA, July 27 (Reuters) - Spain's Cellnex reported on Thursday a wider first-half net loss of 193 million euros ($215 million), which Europe's largest mobile phone tower operator attributed to its expansion process, although its acquisitions have slowed down.
Cellnex's expanding network across Europe boosted its revenues by 18.4% to 2 billion euros, while lifting its adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) by 16% to 1.5 billion euros.
A year ago, it registered a net loss of 170 million euros.
As it shifted its strategy last year towards reducing its debt and obtaining a credit rating upgrade, Cellnex on Thursday maintained its commitment of achieving that upgrade at the latest by 2024, as well as reaching a positive free cash flow. It also kept its revenues and EBITDA outlook for 2025.
($1 = 0.8989 euros) (Reporting by Joan Faus, editing by Andrei Khalip)