Düsseldorf, 9 December 2021 (pta050/09.12.2021/22:45) - Vantage Towers AG (the "Company"), Düsseldorf, signed a contract with 1&1 Mobilfunk GmbH ("1&1"), Maintal, for the German-wide provision of passive infrastructure to build Germany’s fourth mobile network today. Under the new contract the Company will be providing 1&1 access to at least 3,800 and potentially up to 5,000 existing antenna sites. The contract value is in the high three-digit to lower four-digit million euro range. The contract’s initial term expires at the end of 2040, with renewal options for 1&1 until 2060.
The agreement with 1&1 of 3,800 additional tenancies by the end of calendar year 2025 underpins confidence in the Company’s ability to deliver at the upper end of its medium-term targets of the Company’s guidance. In particular, the Company’s mid-term tenancy ratio target of >1.5x is now highly secured as a result of the additional 3,800 tenancies contracted with 1&1, delivering increased revenue growth visibility for the Company. The Company’s guidance for the current financial year (FY 2021-22) remains unchanged after the conclusion of the 1&1 contract.
This ad-hoc statement may contain forward-looking statements based on current assumptions and forecasts made by the Company. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the Company and the estimates given here. These factors include those discussed in the Company's public reports which are available at www.vantagetowers.com. The Company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.
Note: Tenancy ratio is defined as the total number of tenancies on the Company’s macro sites divided by the total number of macro sites.(end)
|Emitter:||Vantage Towers AG|
|Contact Person:||Lie-Tin Wu|
|Stock Exchanges:||regulated market in Frankfurt; free market in Dusseldorf, free market in Hamburg, free market in Hannover, free market in Munich, free market in Stuttgart; open market in Berlin, Tradegate|