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Telenet earnings miss estimates as inflation, lease payments weigh

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(Reuters) -Belgian telecoms company Telenet's third-quarter core earnings missed expectations on Thursday, weighed down by the soaring inflation, high energy prices, and tower-related lease payments.The group reported adjusted earnings before interest, taxes, depreciation and amortisation and after leases (EB

-Belgian telecoms company Telenet's third-quarter core earnings missed expectations on Thursday, weighed down by the soaring inflation, high energy prices, and tower-related lease payments.

The group reported adjusted earnings before interest, taxes, depreciation and amortisation and after leases of 312.7 million euros for the three months to Sept. 30, up 1 per cent year-on-year, or 4 per cent on a rebased basis.Telenet has been reporting EBITDAal as one of its key metrics since the second quarter of this year to reflect tower-related lease payments following the sale of its mobile tower business to Digital Bridge.

European inflation has surged in the past year, driven by record gas prices as Russia curbed supplies following its invasion of Ukraine and Western sanctions against Moscow. Telenet's final agreement with Belgian network operator Fluvius to create an infrastructure joint venture, with an aim to provide speeds of 10 gigabits per second, is pending regulatory approval, CEO John Porter said in a statement.

 

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