Italy's INWIT sees FY revenue at lower end of guidance, on stiff competition
MILAN, Nov 5 (Reuters) -Italy's biggest mobile telecoms towers company INWIT INWT.MI on Tuesday forecast its full-year revenue at 1.03 billion euros ($1.12 billion), in the lower part of its previous guidance due to strong competition in the Italian market.
Milan-listed INWIT said earnings before interest, tax, depreciation and amortisation (EBITDA) after lease costs rose by 9% to 189.5 million euros in the third quarter.
That compares with an analyst consensus provided by the company of 192 million euros.
Revenue in the quarter came in at 260.3 million euros, 7.6% up from the year before and slightly missing a forecast of 262 million euros.
INWIT generates the bulk of its sales through long-term contracts with Telecom Italia (TIM) TLIT.MI and Vodafone VOD.L to host their mobile antenna infrastructure on its masts.
($1 = 0.9159 euros)
Reporting by Elvira Pollina, Romolo Tosiani; Editing by Gavin Jones
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