Slides
Page 1
Q2/2025 Results Presentation Vienna, 16 July 2025
Page 2
2 This presentation contains forward-looking statements. These forward-looking statements are usually accompanied by words such as 'believe', 'intend', 'anticipate', 'plan', 'expect' and similar expressions. Actual events may differ materially from those anticipated in these forward-looking statements as a result of a number of factors. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results or outcomes to differ materially from those expressed in any forward-looking statement. Neither EuroTeleSites AG nor any other person accepts any liability for any such forward-looking statements. EuroTeleSites AG will not update these forward-looking statements, whether due to changed factual circumstances, changes in assumptions or expectations. Alternative performance measures are used to describe the operational performance. Please therefore refer to the Databook, which is available on EuroTeleSites homepage. This presentation was created with care and all data has been checked diligently. Nevertheless, the possibility of layout and printing errors cannot be excluded. The use of automated calculation systems may give rise to rounding differences. This presentation does not constitute a recommendation or invitation to purchase or sell securities of EuroTeleSites AG. Cautionary Statement
Page 3
3 4.8% or +3.2 mEUR revenue growth vs Q2/2024 driven by ▪ Contractual inflation adjustments as of 1 April 2025 ▪ Portfolio growth ▪ Further expanded business relationship with third-party CAPEX at 10.3 mEUR, focused on: ▪ 5G upgrades and rollouts for the anchor tenant ▪ More investments for rollout vs Q2/2024. 62 new sites were built, with 27 being greenfield and 35 being rooftop sites resulted in 38 net adds Tenants ▪ 77 new tenants in Q2/2025, with 39 being third-party tenants Investment Grade Rating ▪ Moody’s confirmed rating for EuroTeleSites in June 2025 Digitalization at EuroTeleSites ▪ Sitetracker: Go Live of state-of-the-art asset management software for all 13,700 sites ▪ Farseer: Business planning that automates and streamlines processes Management Summary Q2/2025
Page 4
Total Revenues (mEUR) 66.8 70.0 EBITDA (mEUR) / Margin 56.7 / 84.8% 58.8 / 83.9% CAPEX (mEUR) 9.8 10.3 Q2/2024 vs. Q2/2025 EBITDAaL (mEUR) / Margin 38.1 / 57.0% 39.4 / 56.3% 17,043 Number of Tenants 13,700 Sites in 6 countries Q2/25 EUROTELESITES IS BUILDING EUROPE'S DIGITAL INFRASTRUCTURE
Page 5
5 In Q2 2025 Total Built 62 New Sites, Resulted in 38 Net Adds. 39 Third-Party Tenants Onboarded. Anchor Tenant Third-Party 56 16 69 25 38 30 June 2024 30 September 2024 31 December 2024 31 March 2025 30 June 2025 Net Adds 56 16 69 25 38 79 53 39 24 39 30 June 2024 30 September 2024 31 December 2024 31 March 2025 30 June 2025 New Tenants 13,552 13,568 13,637 13,662 13,700 +148 30 June 2024 30 September 2024 31 December 2024 31 March 2025 30 June 2025 Number of Total Sites 16,740 16,809 16,917 16,966 17,043 +303 30 June 2024 30 September 2024 31 December 2024 31 March 2025 30 June 2025 Number of Tenants
Page 6
6 More Investments for Rollout vs Q2/2024 Driven by 62 New Sites Built ▪ Rollout & Mandatory upgrades 62 new sites were built, with 27 being Greenfield and 35 being Rooftop sites ▪ In Q2, CAPEX investment was strategically focused on the rollout of new sites and the continued implementation of mandatory upgrades to the anchor tenants’ standard configurations, reinforcing our commitment to supporting robust 5G development Comments 7.4 9.6 9.9 8.0 5.3 1.9 3.7 5.0 3.2 3.5 0.5 0.5 4.3 1.1 1.5 9.8 13.7 19.2 12.3 10.3 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 CAPEX mEUR Mandatory Upgrades Maintenance Rollout
Page 7
Financial Details
Page 8
8 111.1 118.3 +6.5% HY 2024 HY 2025 EBITDA YTD (Margin) mEUR HY/2025 Group Results I/II Comments ▪ Revenue growth of 5.3% driven by contractual inflation adjustments, portfolio growth and tenants acquisition ▪ EBITDA development as a result of revenue increase and solid expenditure management According to the databook, all decimal places must always be considered when calculating changes. 85.9%85.0% 130.7 137.7 +5.3% HY 2024 HY 2025 Revenues YTD mEUR
Page 9
9 74.3 79.7 +7.3% HY 2024 HY 2025 EBITDA after leases YTD (Margin) mEUR HY/2025 Group Results II/II Comments According to the databook, all decimal places must always be considered when calculating changes. ▪ EBITDA after leases: IFRS16 lease liabilities increased primarily due to new locations and contractual obligations. Despite these expansions, we successfully maintained a strong EBITDA after leases margin at the new sites ▪ Cash flow improvement primarily driven by higher revenues (mEUR 4.7) and a positive development in working capital (mEUR 5), the latter resulting from periodical effects 56.8% 57.9% 85.0 96.2 HY 2024 HY 2025 Cashflow YTD (CF Operations - CAPEX paid) mEUR
Page 10
10 Q2/2025 Group Results I/II Comments ▪ Revenues driven by contractual indexation, third-party portfolio development and infrastructure portfolio growth ▪ EBITDA driven by a negative periodical cost shift from Q1 to Q2 ~mEUR 1 According to the databook, all decimal places must always be considered when calculating changes. 66.8 68.0 71.4 67.7 70.0 +4.8% Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Revenues mEUR 56.7 58.4 57.8 59.6 58.8 +3.7% Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 EBITDA mEUR
Page 11
11 Q2/2025 Group Results II/II Comments ▪ The increase in regular lease expenses (IFRS 16) is primarily due to the addition of new sites ▪ EBITDAaL developed in line with EBITDA and leasing cost trends ▪ Cash flow remained stable According to the databook, all decimal places must always be considered when calculating changes. 38.1 39.6 37.5 40.2 39.4 +3.4% Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 EBITDA after leases mEUR 47.0 37.9 30.9 49.5 46.8 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Cashflow (CF Operations - CAPEX paid) mEUR
Page 12
Guidance
Page 13
13 Guidance for 2025 and Mid-term CAGR: Compound Annual Growth Rate | *Base: excluding one-time effects of 4 mEUR OPERATIONAL GUIDANCE 2025 FINANCIAL GUIDANCE 2025 FINANCIAL GUIDANCE MID TERM Increase third-party revenues Revenue growth of ~4%*, as revenue growth 2024 was > 8% Revenue growth 3-5% CAGR, as revenue growth 2024 was > 8% ~200 net increase of Macro Sites CAPEX ~20% of revenues Keep high levels of margins Continue developing ESG strategy Annual result = debt reduction Keep annual average CAPEX of approximately ~20% of revenues Asset management software implemented in May Maintaining investment grade ratings from Moody’s & Fitch No dividend commitment in near future to reach leverage ~5x (FY24: 6.2x)
Page 14
14 EuroTeleSites CEO Ivo Ivanovski EuroTeleSites CFO Lars Mosdorf QUESTIONS & ANSWERS CONTACT INVESTOR RELATIONS Moritz Palmi E: Moritz.Palmi@eurotelesites.com M: +43 664 66 39 520
Page 15
Backup
Page 16
16 AMX, OeBAG América Móvil, Österreichische Beteiligungs AG Anchor Tenant Major customer of EuroTeleSites Build-to-suit Program Sites characterized by the construction of a new tower for an anchor tenant for which there is a "Built-to-suit" Program CAPEX - Capital Expenditures Total additions to intangible assets + total additional to property plant and equipment (excluding right of use additional according to IFRS 16) EBIT Earnings Before Interest and Tax. EBITD equals the operating income according to IFRS EBITDA Earnings Before Interest, Tax, Depreciation and Amortization. EBIT + Depreciation and Amortization EBITDA Margin EBITDA / Total Revenues EBITDAaL (EBITDA after Leases) EBITDA - depreciation of lease asets and interest expenses pursuant to IFRS16 (EBITDA after Leases) EBITDAaL Margin EBITDAaL / Total Revenues Net debt Debt (long- and short term) + lease liability (long- and short term) - cash and cash equivalents Site / Radio Tower The passive infrastructure on which active equipment is mounted as well as its physical location Greenfield Site Greenfield Sites are towers erected on the ground that are suitable to host active equipment Rooftop Site Rooftop Sites are antenna structures, including steel structures, masts installed on various types of buildings or constructions, typically on the roof and/or roofing pavement Tenancy Ratio Number of tenants divided by the number of locations Third-party tenant Tenants other than the anchor tenant Glossary