The Board of Directors of Infrastrutture Wireless Italiane SpA (INWIT) yesterday approved the financial report as at 30 June 2023, which shows continued growth in all the main economic-financial indicators and an acceleration in technological infrastructures.
In the second quarter of 2023, INWIT continued its commitment to developing the technological infrastructure, with theexpansion of the site fleet by 225 new sites and the growth of new hospitality establishments, equal to 1,060. Furthermore, the multi-operator microcellular coverage plan continued in places with the greatest concentration of users and traffic, creating over 500 remote units for indoor DAS coverage. These investments contributed to the growth of total revenues, which amounted to 237.6 million euros, with an increase of +12.8% compared to the same period of the previous year. EBITDA reached 216.4 million euros, recording an increase of +12.9%.
Lease cost efficiency led to an expansion of EBITDAaL (EBITDA – Lease Costs), which reached 167.6 million euros, an increase of +16.7% compared to the same period of 2022 Net profit for the second quarter of 2023 amounted to 80.8 million euros, up by +9.3% compared to the previous year. Furthermore, the Recurring Free Cash Flow reached 186.9 million euro, with a significant increase of +84.8%.
In the first half of 2023 as a whole, all the main economic and equity indicators showed a positive trend. Total revenues were 471.2 million euros, up by +12.8% compared to the same period of 2022. EBITDA reached 430.2 million euros, registering an increase of +13.2% , and EBITDAaL settled at 333.1 million euro, with a growth of +17.8%. The net profit for the first half of 2023 was 163.7 million euros, up by +15.3% compared to the same period of the previous year. The Recurring Free Cash Flow reached 323.5 million euro, with a significant increase of +42.1%.
Thanks to industrial investments, which amounted to 59.8 million euros in the second quarter and reached 117.1 million euros in the first half, INWIT was able to continue developing 5G mobile networks, leveraging its business based on investments in digital and shared infrastructures. These investments were mainly intended for the construction of new sites, the development of indoor micro-coverings with DAS systems and the acquisition of land.
An important aspect of INWIT’s activity was the merger project by incorporation of 36 Towers Srl, manager of 36 sites for mobile telephone networks mainly in Piedmont and Lombardy. This operation will make it possible to concentrate assets in a single entity and centralize operating activities, reducing administrative, legal and accounting obligations.
INWIT has also demonstrated a constant commitment to environmental, social and governance sustainability. It has achieved ISO 50001 certification for optimizing energy performance and has implemented energy efficiency initiatives with projected savings of 4.5 GWh. Furthermore, it has partnered with Legambiente and the WWF to monitor air quality and prevent forest fires.
The “Italia 5G” plan of the PNRR for the construction of new infrastructures in the digitally divided areas is in line for the achievement of the year-end targets, thanks to effective operational planning and collaboration with local authorities.
INWIT continues to represent the value of digital infrastructures for local areas, supporting social and industrial transformation and maintaining a growing commitment to the social dimension of corporate sustainability.
With constant growth in the main economic and financial indicators and a strong focus on sustainability, INWIT is a leading player in the digital infrastructure sector in Italy.