Q3 2025 Infrastrutture Wireless Italiane SpA Earnings Call Transcript
Key Points
- Revenue grew by 4.1% in the third quarter, demonstrating resilience in a challenging market environment.
- EBITDA after lease increased by 4.4%, with a margin expansion to 73%.
- The company completed a EUR300 million share buyback and issued its first sustainability-linked bond, strengthening its financial position.
- INWIT continues to expand its infrastructure, adding 180 new towers and 70 new PoPs in the quarter.
- The company maintains a strong position in a concentrated market with high barriers to entry, leveraging its competitive advantages in assets and locations.
- Growth expectations for 2026-2030 have been adjusted to the low end of the target range due to postponed densification projects.
- The Italian telco sector faces financial challenges, limiting investments and impacting noncommitted revenue sources.
- Inflation is slightly lower than expected, affecting financial projections.
- The market improvement anticipated from transformative transactions in 2024 has not yet materialized.
- Leverage remains high at 5 times net debt to EBITDA, reflecting ongoing financial pressures.
Good morning. This is the chorus call conference operator. Welcome, and thank you for joining the third quarter 2025 INWIT financial results conference call.
(Operator Instructions) At this time, I would like to turn the conference over to Mr. Fabio Ruffini, Strategy, M&A and Investor Relations Director of INWIT. Please go ahead, sir.
Good morning, everyone, and thanks for joining us. With me today are Diego Galli, General Manager; and Emilia, CFO.
Before we begin, allow me to draw your attention to the safe harbor statement on page 2. As usual, following a brief presentation, we will be happy to take your questions. Over to you, Diego.
Thank you, Fabio, and good morning, everyone. It's a difficult (inaudible) following the updated growth expectation in the '26, 2030 period. It's important for us to answer the key questions
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