Cellnex Telecom SA

CLNX: XMAD (ESP)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Cellnex Earnings: Colocation Growth Accelerates and Margins Expand, but Sector Overhang Persists

Javier Correonero

Jul 31, 2026

Cellnex's second-quarter results were in line with the company-compiled consensus, reaching revenue of EUR 1.01 billion and adjusted EBITDAaL of EUR 636 million. Second-quarter EBITDAaL margin expanded 270 basis points to 63.0% thanks to organic growth and management of land purchases and leases.

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Cellnex Telecom SA

Cellnex Earnings: Colocation Growth Accelerates and Margins Expand, but Sector Overhang Persists

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