(Alliance News) - Inwit Spa, led by CEO Diego Galli, expects to surpass EUR1.00 billion in revenues by the end of the year, a significant jump from EUR750.0 million four years ago, according to a report Monday by Corriere della Sera in its L'Economia supplement.
The company, which operates more than 24,000 telecommunications towers in Italy, reported a 7.6 percent increase in revenues and 9.0 percent increase in margins in the third quarter, building more than 200 new towers. However, the stock market reaction was negative, in line with the tower sector, due to rising interest rate expectations.
Inwit has a EUR800.0 million investment plan to upgrade digital infrastructure, both outdoor and indoor. Key projects include network densification, the Italy 5G Plan funded with more than EUR300.0 million from the PNRR to bring 5G to rural and mountainous areas by 2026, and collaboration with A2A to install 5G microcells on light poles in urban centers.
The company is evolving from a simple tower operator to a broader infrastructure operator. Recent projects include 5G coverage of Milan's M4 subway and the Rome 5G program, which will modernize infrastructure for connectivity, Wi-Fi, cameras, and IoT sensors in the capital.
In 2023, Inwit distributed EUR450.0 million in dividends and completed a EUR300.0 million buyback plan, aiming to increase dividends by 7.5 percent annually. The growth, combined with deleveraging, opens room for new acquisitions, which will be evaluated to strengthen the company's position in the market.
By Antonio Di Giorgio, Alliance News reporter
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