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EuroTeleSites AG/€ETS

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About EuroTeleSites AG

EuroTeleSites AG provides telecommunications infrastructure and solutions across six Central and Eastern European countries: Austria, Bulgaria, Croatia, Slovenia, North Macedonia, and Serbia. The company offers services for building and maintaining wireless networks, including space for mobile network operators' equipment, contract management, and maintenance of structural and energy systems. Established in 2023 through the spin-off of Telekom Austria AG's radio tower business, EuroTeleSites is headquartered in Vienna, Austria. With a portfolio of approximately 13,200 communication sites, the company serves a diverse clientele, including mobile network operators, internet service providers, enterprises, and government agencies. Its strategic positioning in the CEE region and longstanding telecommunications expertise underpin its role in supporting the region's digital connectivity needs.
Ticker
€ETS
Sector
Communication
Primary listing
VSE
Employees
-
Headquarters
Vienna, Austria
Website
eurotelesites.com

EuroTeleSites AG Metrics

BasicAdvanced
€743M
19.40
€0.23
0.88
-

Bulls say / Bears say

Third-party demand is growing quickly: Q3 third-party revenue rose 28.4% (13% excluding a one-off), while EBITDA after leases increased 12.3%. EuroTeleSites also added 67 sites in the quarter, showing that new tenants and operating leverage are supporting growth. (EuroTeleSites)
The company has room to expand as 5G rollout and coverage needs drive tower demand across its markets. Management plans more than 400 new sites and expects 2026 revenue growth of 4–5%, with inflation-linked contract adjustments adding support. (EuroTeleSites)
The balance sheet is moving in the right direction: Fitch upgraded EuroTeleSites to investment-grade BBB, citing lower leverage and expecting it to fall further. Fitch sees leverage reaching 5.0x by 2028, which could eventually create scope for shareholder distributions. (Fitch Ratings)
Customer concentration remains a major risk: Fitch says 92% of revenue comes from the A1 group and the collocation ratio is only 1.25x. That leaves the company more exposed to a change in its anchor tenant’s needs and to competition for new tenants. (Fitch Ratings)
The build programme will absorb substantial cash before new sites fully earn their keep. Management expects capital expenditure at about 25% of revenue in 2026, while Fitch expects it to rise to around 30% in 2026 and 2027 and sees some temporary margin dilution from higher lease costs. (EuroTeleSites, Fitch Ratings)
High leverage and refinancing needs may limit returns to shareholders: Fitch put year-end 2025 leverage at 5.5x, and the company said in October that refinancing of its private placement was scheduled for November. Management is prioritising debt reduction and has ruled out a 2026 dividend. (Fitch Ratings, EuroTeleSites)
Data summarised monthly by Lightyear AI. Last updated on 11 Nov 2026.

EuroTeleSites AG Financial Performance

Revenues and expenses
Income statement
QuarterlyAnnual
Q3 24
QoQ growth
Revenue
Net income
Profit margin

EuroTeleSites AG Earnings Performance

Company profitability
Earnings per share
QuarterlyAnnual
Q4 23
Q1 24
Q2 24
Q3 24
Q4 24
Actual
Expected
Surprise
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