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Italy's Rai Way sees core profits, revenues growing in 2022

By Reuters

– Italian tower group Rai Way said on Thursday it expected revenues and adjusted core profits to grow this year, after posting a 4.8% rise in adjusted core earnings for the last quarter of 2021.

The group said revenues would grow by a “mid single digit” percentage, boosted by a mechanism that ties them to rising inflation and the results of ‘re-farming’, or redeployment of the electromagnetic spectrum for higher-value services.

Adjusted core profits will also increase in 2022, provided electricity prices normalise, it said.

In the last three months of 2021 adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) were 33 million euros ($37 million).

Revenues rose 3.2% from the previous quarter to 58.2 million euros.($1 = 0.9001 euros)