Cellnex Telecom Business Model Canvas
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Cellnex Telecom Bundle
Telecom Towerco Business Model Canvas: concise strategic playbook for investors
Dive into Cellnex Telecom’s strategic playbook with our concise Business Model Canvas—unpacking value propositions, network assets, key partnerships and revenue streams that drive scale. This 4‑page snapshot highlights risks, growth levers and competitive edges. Ideal for investors, consultants and founders seeking actionable insight. Purchase the full editable Canvas (Word & Excel) to apply it directly to your analysis.
Partnerships
MNO co-location agreements
Partnerships with mobile network operators underpin site tenancy and utilization, with MNO co-location deals forming the core revenue driver and enabling tenancy ratios that support scale economies. Multi-year master leases, typically 10–25 years as of 2024, secure predictable revenues and provide clear pipeline visibility for investments. Joint planning with MNOs aligns coverage, capacity and modernization roadmaps, fostering long-term, mutually beneficial occupancy growth.
Municipalities & regulators
Local authorities grant permits, rights-of-way and zoning approvals essential for rollouts; constructive relations accelerate deployments and cut compliance risk. Engagement ensures adherence to EMF, safety and environmental rules and eases community acceptance for densification. The EU European Electronic Communications Code, transposed by member states since 2020, aims to streamline permits and speed small‑cell deployments across markets.
Technology & equipment vendors
Alliances with OEMs for towers, DAS, small cells and power systems boost reliability and lower cost across Cellnex’s neutral-host portfolio, supporting its >140,000 sites (2024) and pro forma revenues ~€6.7bn (2023). Vendor-agnostic, interoperable solutions enable multi-operator sharing; joint R&D de-risks 5G, Open RAN and edge designs while lifecycle support targets >99.9% uptime and faster mean time to repair.
Real estate & landlords
Real estate owners, rooftop partners and ground lessors supply Cellnex with strategic, high-visibility locations; Cellnex operates over 120,000 sites (2024). Long-term leases and selective buyouts (average lease tenor c.15 years) stabilize footprint control and reduce churn risk. Aggregators and property managers streamline multi-site negotiations and increase renewal flexibility.
- Site scale: >120,000 sites (2024)
- Average lease tenor: c.15 years
- Benefits: lower churn, easier renewals
Financial & M&A partners
Banks, institutional investors and M&A advisors fund Cellnex acquisitions and capex, while structured finance solutions—commonly extending maturities to 10–15 years—can lower effective WACC by roughly 100–200 basis points, improving deal economics. Deal partners source sale-leasebacks and carve-outs to scale the portfolio; integration experts accelerate synergies and standardization post-close.
- Banks: acquisition & capex lending
- Institutional investors: long-term equity
- Structured finance: +10–15y maturities, -100–200bps WACC
- Deal partners: sale-leasebacks & carve-outs
- Integration experts: faster synergies & standardization
Tower platform: long‑term leases, >140,000 sites, €6.7bn pro forma revenue, lower WACC
Mobile network operator co‑locations and long‑term leases (10–25y) form core revenue, supporting scale across >140,000 sites (2024) and pro forma revenues €6.7bn (2023). OEM, real‑estate and local authority partnerships accelerate 5G/Open RAN rollouts and permit approvals. Banks and institutional finance (10–15y maturities) lower WACC by c.100–200bps.
| Partner | Role | Key metric |
|---|---|---|
| MNOs | Tenancy | >140,000 sites (2024) |
| Leasors | Sites | Avg tenor c.15y |
| Finance | Funding | 10–15y, -100–200bps WACC |
What is included in the product
Detailed Word Document
Comprehensive Business Model Canvas for Cellnex Telecom outlining its asset-light, tower and connectivity-as-a-service strategy delivering neutral-host infrastructure, small cells, fibre and IoT platforms to mobile operators, broadcasters and enterprises. Organized across 9 BMC blocks with value propositions, channels, revenue streams (long-term contracts and MSA), key partners and resources, plus SWOT-linked insights for growth, scalability and regulatory risk management.
Customizable Excel Spreadsheet
High-level, editable Business Model Canvas for Cellnex Telecom that relieves pain by condensing complex infrastructure, leasing and revenue streams into a one-page snapshot for fast decision-making. Shareable and boardroom-ready, it saves hours of structuring, supports collaboration and quick comparative analysis.
Activities
Site acquisition & permitting
Identify priority locations by overlaying traffic demand and capacity gaps, targeting densification in markets where Cellnex reached c.70,000 sites in 2024. Secure leases, rights-of-way and regulatory approvals through standardized contracts and local partners to reduce permitting friction. Optimize zoning to cut average time-to-on-air below nine months and maintain a repeatable, country-tailored permitting playbook.
Build, operate & maintain
Construct and upgrade towers, DAS and small cells to spec across over 100,000 sites in Europe and Latin America (2024), enabling densification for 5G. Perform preventive and corrective maintenance to deliver carrier-grade availability, targeting 99.99% uptime while managing power, backup and access control at each site. Enforce uniform safety and regulatory compliance across the network.
Tenant onboarding & SLAs
Coordinate technical designs and installations for new tenants across sites, aligning engineering milestones and safety checks to meet onboarding timelines; target industry-standard deployment lead times while ensuring 99.99% SLA availability (industry benchmark in 2024). Execute standardized service levels with measurable KPIs, provide change management and streamlined work-order processing, and manage billing, disputes, and credits with transparent reconciliation workflows.
Portfolio M&A & integration
Portfolio M&A & integration: source, evaluate and acquire infrastructure assets across Europe, targeting scale in a portfolio exceeding 100,000 sites (2024); run forensic due diligence on contracts, permits and technical quality; integrate systems, processes and teams post-close to realize synergies; deliver operational efficiencies and tenancy growth plans to boost EBITDA per site.
- Deal origination and valuation
- Contract, permit & technical due diligence
- Systems, process & team integration
- Operational synergies & tenancy uplift
Network densification solutions
Design multi-tenant DAS and small-cell deployments in dense urban and venue hotspots to boost local capacity and enable 5G NR peak rates (up to 20 Gbps) and sub-1 ms URLLC latency; Cellnex, operating ~135,000 sites in 2024, prioritizes edge-ready layouts and spectrum refarming for capacity scaling.
- Coordinate backhaul upgrades to meet SLA throughput/latency
- Power resilience and site redundancy
- Pilot sites to cut cost-per-site and speed-to-market
Densify ~135,000 sites; target c.70,000; 99.99% uptime
Identify priority locations for densification, secure leases/permits via standardized playbooks across Cellnex’s ~135,000 sites (2024) and c.70,000 target densification footprint. Build/upgrade towers, DAS and small cells, maintain 99.99% uptime target and power/backhaul resilience. Execute M&A, integrate assets and drive tenancy uplift to improve EBITDA per site.
| Metric | 2024 | Target |
|---|---|---|
| Sites | ~135,000 | — |
| Densification footprint | c.70,000 | Expand |
| Uptime | — | 99.99% |
| Avg time-to-on-air | — | <9 months |
Full Version Awaits
Business Model Canvas
The Cellnex Telecom Business Model Canvas you’re previewing is the actual deliverable, not a mockup or sample; it’s a direct snapshot of the full file you’ll receive after purchase. When you complete your order you’ll get this same professional, ready-to-edit document—formatted and structured identically—in Word and Excel. No surprises, just the exact Canvas ready for presentation and use.
Resources
Towers, DAS & small cells
Cellnex's large, geographically diversified portfolio—around 141,000 sites at end-2024—drives scale economics across Europe. Multi-tenant towers and rooftop structures allow multiple operators per site, improving returns per site and maximizing revenue density. Urban indoor DAS and outdoor small cells address complex coverage and capacity needs in dense areas. Standardized assets and deployment reduce capex and opex per tenant.
Ground leases & access rights
Long-term ground leases and access rights underpin continuity for tenants, supporting Cellnex’s growth across over 130,000 sites in 2024 and reducing churn risk. Favorable lease terms, often multi-decade, cut renewal and relocation costs and preserve EBITDA stability. Rooftop agreements expand dense-area coverage while rights-of-way streamline fiber and power hookups, lowering capex and deployment lead times.
Contract portfolio & MLAs
Multi-year, CPI-linked MLAs anchor Cellnex’s recurring revenue and underpin risk-adjusted cashflows across its network of over 130,000 sites (2024), while co-location clauses enable incremental tenancy growth at low marginal cost. Build-to-suit frameworks accelerate rollout commitments with guaranteed tenancy take-up, shortening payback periods. Clear SLAs and defined remedies improve uptime, trust and customer retention, supporting long-term contracts.
Engineering, field & NOC teams
Skilled engineering, field and NOC teams deliver design, build and maintenance excellence, supporting Cellnex’s 24/7 centralized NOC that monitors availability and alarms across the estate; strong HSE culture drives safe, compliant operations while vendor management enforces standards at scale. As of 2024 Cellnex operates across 13 countries with over 144,000 sites.
- Skilled teams: design, build, maintain
- NOC: 24/7 availability & alarm monitoring
- HSE: safety & compliance culture
- Vendor management: standards at scale
Capital access & systems
Strong balance sheet and committed funding lines in 2024 support continued acquisitions and capex, while ERP, OSS and asset-management platforms deliver centralized control and uptime tracking. Advanced data analytics drive site optimization, dynamic pricing and churn prevention, and automated tenant portals improve experience and onboarding speed.
- Capital resilience: committed credit lines 2024
- Systems: ERP, OSS, asset mgmt integrated
- Analytics: siting, pricing, churn
- Automation: tenant portals, faster onboarding
~141,000-site tower portfolio across 13 countries with CPI-linked long-term leases
Cellnex owns ~141,000 sites (end-2024), driving scale via multi-tenant towers and rooftop assets that raise revenue density. Long-term, CPI-linked MLAs and multi-decade ground leases stabilize recurring cashflows and lower churn. Operations span 13 countries with 24/7 NOC, standardized systems and committed funding lines in 2024 enabling M&A and rollout.
| Metric | 2024 |
|---|---|
| Sites | ~141,000 |
| Countries | 13 |
| NOC | 24/7 |
| Contracts | Multi-year, CPI-linked MLAs |
Value Propositions
Neutral-host cost efficiency
Neutral-host shared infrastructure lowers operators' total cost of ownership — GSMA estimates passive sharing can cut deployment and operating costs by up to 40%. Co-location raises asset utilization and avoids site duplication, improving capex efficiency. Tenants access predictable, indexed long-term pricing structures, enabling savings to be redirected toward spectrum acquisition and service rollouts.
Speed-to-deploy coverage
In 2024 Cellnex, Europe’s largest neutral tower operator, leverages permitting know-how and ready sites to cut time-to-on-air, turning multi-month builds into weeks. Standard designs and pre-negotiated leases accelerate rollouts, enabling rapid densification that boosts user throughput and cell capacity. Faster deployment directly supports operator KPIs like coverage, latency and ARPU protection.
Pan-European footprint
Cellnex’s Pan-European footprint spans 13 countries and c.120,000 sites, offering multinational customers a one-stop scale for rollout and operations. Cross-border frameworks and unified contracting simplify governance and accelerate deployment across borders. Consistent SLAs and consolidated reporting across markets reduce operational complexity for clients, supporting over 80 multinational operator relationships.
High availability & compliance
Rigorous O&M and resilient backup power support industry-grade availability above 99.9%, keeping sites operational for mission-critical services. Certified processes (ISO 9001/14001/45001) and regulatory compliance underpin safety and legal standards. Quarterly KPI reporting and published uptime metrics build tenant confidence and enable predictable SLAs.
- Availability: >99.9%
- Certifications: ISO 9001/14001/45001
- Reporting: quarterly KPI disclosures
- Benefit: reliable platform for mission-critical tenants
Flexible contracts & solutions
Flexible contracts and solutions—build-to-suit, swap, and sale-leaseback—allow Cellnex to fit operator and enterprise needs while sharing deployment risk; modular add-ons for power, fiber, and edge hosting enable rapid 5G and indoor coverage rollouts as demand evolves in 2024. Terms are structured for long-term commitments and scalable upgrades, aligning capex relief with recurring site revenues.
- Build-to-suit: tailored deployments
- Swap & sale-leaseback: capex-to-opex conversion
- Modular add-ons: power, fiber, edge hosting
- Adaptive terms: meet 5G/indoor demand
- Risk-sharing: aligns incentives for long-term contracts
Neutral-host model: c.120,000 sites, up to 40% TCO cut, >99.9% availability
Neutral-host model cuts operator TCO up to 40% (GSMA); Cellnex 2024 footprint c.120,000 sites in 13 countries, supporting 80+ multinational tenants and >99.9% availability; standardised builds shorten time-to-air from months to weeks, accelerating 5G rollouts; flexible contracts enable capex-to-opex swaps and modular edge/power add-ons.
| Metric | 2024 | Impact |
|---|---|---|
| Sites | c.120,000 | Scale for rapid rollouts |
| Countries | 13 | Pan-EU reach |
| Tenants | 80+ | Multinational contracts |
| Availability | >99.9% | Mission-critical SLA |
| Cost saving | up to 40% | Lower TCO |
Customer Relationships
Long-term master agreements
Multi-year master agreements create stability and shared planning horizons for Cellnex, supporting its portfolio of over 135,000 sites across Europe (2024). Indexation and co-location terms align incentives, improving ARPU per site and reducing per-site churn. Renewal pathways lower relocation costs, while governance clauses streamline dispute resolution and protect cash flow predictability.
Dedicated account teams
Dedicated account teams at Cellnex coordinate commercial, technical and operational needs through assigned account managers, ensuring cohesive service delivery across the operator's network of over 135,000 sites as of 2024.
Regular quarterly business reviews (QBRs) track SLAs, performance KPIs and roadmap alignment to prioritize upgrades and capacity planning.
Single points of contact accelerate decisions and escalations, improving customer satisfaction and creating clear channels for upsell and expansion opportunities.
Joint rollout committees
Joint rollout committees create structured forums that align site priorities and timelines, supporting Cellnex’s pan-European rollouts and the company’s 2024 expansion plans; shared forecasts feed capex and resource allocation decisions tied to Cellnex’s multi‑billion euro annual investments. Cross‑functional coordination reduces rework and helps keep deployments on schedule and within budget.
Operational transparency
Portals and reports deliver real-time KPI visibility across Cellnexs network of over 140,000 sites (2024), enabling proactive decisions; ticketing, maintenance windows and outage notices are tracked end-to-end with targeted 99.99% uptime SLAs, where credits and penalties are applied transparently and fairly; this data-driven approach underpins trust and continuous improvement.
- Real-time KPIs
- End-to-end ticketing
- Transparent SLA credits
- Continuous improvement
Co-innovation programs
Cellnex's co-innovation programs run pilots for indoor 5G, Open RAN and edge computing to enable new vertical use cases; sandbox sites across Europe (dozens in 2024) validate technology and business models, and learnings are scaled into standard offerings, differentiating services beyond basic access.
- tag: indoor 5G pilots
- tag: Open RAN trials
- tag: edge sandbox sites (dozens in 2024)
- tag: scaled standard offerings
Long-term contracts, indexation and SLAs anchor cash flow across ~140,000 sites
Multi-year master agreements and indexation anchor long-term cash flow and reduce per-site churn across Cellnex’s ~140,000 sites (2024). Dedicated account teams, single points of contact and quarterly business reviews (QBRs) ensure SLA-driven delivery and upsell pathing. Portals provide real-time KPIs and end-to-end ticketing supporting 99.99% uptime SLAs. Dozens of 2024 sandbox sites scale indoor 5G, Open RAN and edge offers.
| Metric | Value | Year |
|---|---|---|
| Sites | ~140,000 | 2024 |
| Sandbox sites | Dozens | 2024 |
| Uptime SLA | 99.99% | 2024 |
| Annual investments | Multi‑billion EUR | 2024 |
Channels
Direct enterprise sales
In-house sales teams engage MNOs, broadcasters and public entities, leveraging relationship selling to align Cellnex solutions with operators’ network rollouts. Multi-year frameworks are negotiated centrally to secure long-term cash flows, while local teams execute country specifics across Cellnex’s 12-country footprint (2024).
RFPs & framework tenders
Participate in competitive procurements for coverage and densification, leveraging Cellnex’s footprint of c.135,000 sites across 13 European markets (2024) to win framework tenders. Standardized RFP responses showcase scale, SLAs and transparent pricing. Prequalification eases repeat awards and consistency builds procurement trust.
Digital portals & APIs
Digital portals and APIs let Cellnex manage orders, modifications and performance centrally, with self-service portals giving tenants direct control. APIs integrate with tenant OSS/BSS to automate provisioning and monitoring, shortening workflows and reducing manual errors. Cellnex, active across 12 European markets, reports digitalisation as a key efficiency lever in its 2024 disclosures. Faster, automated processes measurably cut cycle times and disputes.
Industry events & associations
Presence at telecom forums nurtures Cellnex’s thought leadership and amplifies its role as Europe’s largest independent tower operator, with c.130,000 sites across multiple markets (2024). Active engagement helps shape standards and regulatory dialogue via bodies like GSMA (750+ operator members in 2024). Networking at events consistently uncovers pipeline opportunities and boosts brand credibility with investors and MNO partners.
- GSMA: 750+ operator members (2024)
- Cellnex: c.130,000 sites (2024)
- Events drive deal sourcing and regulatory influence
Sale-leaseback origination
Sale-leaseback origination targets asset owners to identify carve-out prospects and unlock capital; outreach funnels prioritized by portfolio scale and location. Tailored structures meet seller liquidity and service needs while preserving operational continuity. Post-deal master lease agreements convert assets into predictable recurring revenue, supporting Cellnex inorganic growth and portfolio scale (c. 135,000 sites groupwide, 2024).
- Outreach: targeted owner engagement
- Structuring: liquidity + service continuity
- Post-deal: MLAs → recurring revenue
- Impact: fuels inorganic expansion (2024)
In-house teams secure multi-year frameworks across c.135,000 sites
In-house sales and local teams secure multi-year frameworks with MNOs, broadcasters and public entities, leveraging Cellnex’s scale (c.135,000 sites, 13 markets, 2024) to win tenders. Digital portals/APIs automate provisioning and reduce cycle times; procurement trusts standardized RFPs and SLAs. Sale-leaseback origination and events pipeline convert assets into recurring revenue and regulatory influence.
| Metric | 2024 |
|---|---|
| Sites (group) | c.135,000 |
| Markets | 13 |
| GSMA members | 750+ |
| Key levers | APIs, MLAs, RFP scale |
Customer Segments
Mobile network operators
Mobile network operators are primary tenants seeking macro, micro and indoor coverage to support 4G/5G densification and network modernization across urban and indoor hotspots. They prioritize predictable costs, high uptime and low-latency speeds, driving demand for SLA-backed hosting and shared infrastructure. Often multi-country, MNOs need harmonized rollout and operations; global 5G subscriptions surpassed 1.7 billion in 2024 (GSMA).
Broadcasters & media
Broadcasters and media require broadcast towers and shared sites for transmission; Cellnex operated over 130,000 sites across Europe by end-2024, enabling wide footprint and redundancy. Coverage and signal integrity are critical for DTT and live feeds, with SLAs to minimize dropouts. Seasonal and event-driven capacity can spike multiple-fold during major sports or festivals, so broadcasters value scalable sites. They benefit from Cellnex managed power, backup systems and preventive maintenance contracts.
Public sector & emergency
Serve critical communications and safety networks for emergency services and public agencies, requiring carrier-grade availability (often targeting 99.999% uptime). High resilience and compliance are mandatory, driven by regulations such as the NIS2 transposition deadline of October 2024. Secure access, redundant power and dual-backhaul design are standard; long-term master leases (typically 10–25 years) underpin revenue stability.
Enterprises & private networks
- Use case: factories, campuses, venues
- Value: neutral-host DAS lowers complexity & cost
- SLA: 99.9%+ uptime, <10 ms latency
- Revenue: managed services & edge = recurring growth
Cloud, IoT & edge players
Hyperscalers and IoT providers seek low-latency, on-net sites to host edge nodes and ancillary equipment; Cellnex operates c.135,000 sites in Europe (2024), positioning it for that demand. Power and dedicated space services simplify deployment and reduce time-to-market, while co-marketing with cloud partners accelerates adoption amid ~14.4 billion connected IoT devices in 2024.
- Low-latency edge hosting
- Site power & space as a service
- Co-marketing to speed uptake
- Target: hyperscalers & IoT platforms
Shared resilient 4G/5G sites and edge hosting fuel recurring revenue from 14.4bn IoT devices
Mobile operators, broadcasters, public safety and enterprises demand resilient, SLA-backed shared sites for 4G/5G, indoor DAS and private networks; Cellnex operated c.135,000 sites in Europe (2024). Long-term leases (10–25y), NIS2-driven resilience and edge hosting for hyperscalers (14.4bn IoT devices; 2024) drive recurring revenue and managed services growth.
| Segment | Need | 2024 metric |
|---|---|---|
| MNOs | SLA, coverage | 1.7bn 5G subs |
| Hyperscalers/IoT | Edge/space | 14.4bn devices |
Cost Structure
Ground rents & site control
Recurring payments for land, rooftops and rights-of-way represent a predictable operating cost for Cellnex, covering over 100,000 sites (2024); renewal and escalation clauses—typically managed centrally—ensure uniform indexing and risk control; active portfolio optimization and renegotiations lower blended rent per site, and targeted buyouts are pursued where net present value and IRR justify replacing recurring fees with one-time acquisitions.
Capex for builds & upgrades
Capex focuses on new towers, DAS and modernization with 2024 capex guidance ~€1.7bn to support rollouts and upgrades. Standardization of sites and SKUs drives lower unit costs over time, improving margins. Build-to-suit deployments limit speculative spend and align contracts with demand. Technology refresh cycles are planned proactively, typically every 5–7 years, to maintain service quality.
Operations, maintenance & energy
Field services, spares and scheduled maintenance underpin site reliability across Cellnex’s network of over 100,000 sites in 2024; energy and backup systems are major line items, with industry benchmarks showing energy can approach 30% of site opex. Remote monitoring cuts truck rolls and related costs, while vendor SLAs (typically 99.9%+ uptime) align payments with availability and reduce outage penalties.
IT, NOC & corporate overhead
Software platforms, real‑time monitoring and NOC operations underpin Cellnex service delivery, with security, compliance and data analytics tools running as constant cost centers. Central corporate functions (finance, HR, legal) consolidate overheads while scale spreads fixed IT/NOC costs across c.141,000 sites reported in 2024, improving unit economics.
- Software & platforms: ongoing licensing, devops, monitoring
- Security & compliance: continuous spend on SOC, GDPR tools
- Corporate: finance, HR, legal centralized
- Scale benefit: fixed cost dilution across ~141,000 sites (2024)
Financing, taxes & depreciation
Interest on debt funds acquisitions and capex, contributing to Cellnex’s leverage (net debt/EBITDA ~5x in 2024) across an asset-heavy portfolio of ~135,000 sites (2024); depreciation is therefore a major recurring charge. Taxes vary by country and deal structure, impacting cash tax timing. Active hedging programs mitigate currency and interest-rate risk on cross-border financing.
- Interest: debt funds acquisitions & capex
- Depreciation: large from ~135,000 sites (2024)
- Leverage: net debt/EBITDA ~5x (2024)
- Taxes: jurisdiction & structure dependent
- Hedging: FX and rate risk management
Scale, capex and energy squeeze margins across c.141,000 sites; capex €1.7bn, energy ~30%
Recurring site rents, maintenance, energy and centralized software/NOC are the main cost drivers across c.141,000 sites in 2024; capex guidance ~€1.7bn funds rollouts and modernisation while depreciation and interest on acquisition debt keep fixed charges high. Energy can approach 30% of site opex; scale and portfolio renegotiation reduce per‑site costs and drive margin uplift.
| Metric | 2024 |
|---|---|
| Sites | c.141,000 |
| Capex | €1.7bn |
| Net debt/EBITDA | ~5x |
| Energy share of opex | ~30% |
Revenue Streams
Recurring site leases
Monthly recurring site leases cover towers, DAS and small-cell occupancy with pricing that varies by antenna height, structural load and urban/rural location. Multi-tenant co-location increases yield per site by spreading fixed site costs across tenants. Long-term contracts, typically 10–15 years, enhance cashflow predictability. As of 2024 Cellnex operated across 12 European markets, leveraging scale to optimize site utilization.
Indexation & escalators
CPI-linked or fixed annual increases protect contract value, using mechanisms tied to Eurostat HICP (Eurozone 2024 average ~2.4%) to preserve purchasing power. Pass-through clauses allow recovery of specific cost moves such as energy and regulatory charges. Structured escalators matched to contract tenors smooth revenue recognition and sustain real revenue growth over time.
Build-to-suit & installation
Build-to-suit & installation generate fees for designing and delivering new sites to tenants, with one-time installation and integration charges applied; milestone-based payments de-risk cash flow and convert upfront capex into contracted returns. Cellnex operates over 140,000 sites (2024), scaling these B2S contracts across its portfolio.
Managed services & power
Managed services & power combine Power-as-a-Service with continuous monitoring and maintenance bundles, supporting Cellnexs rollout across 12 European markets in 2024 and its network of over 130,000 sites; backup, security and site-access incur additional charges while premium SLAs deliver measurable uplifts in availability and ARPU. Value-add services like energy optimization and remote hands deepen client relationships and recurring revenues.
- Power-as-a-service: recurring fee
- Monitoring & maintenance: bundled contracts
- Extras: backup, security, access fees
- Premium SLAs: higher ARPU
- Value-adds: energy optimization, remote hands
Relocation & project fees
Relocation and project fees stem from site moves, upgrades and special works, with contractual change orders compensating scope shifts; decommissioning and site-swap projects are billed as discrete contracts, creating smooth non-recurring income for Cellnex. As of 2024 Cellnex operates across 12 countries, leveraging these project fees to complement recurring tenancy revenue.
- Project fees: billed per move/upgrade
- Change orders: scope-driven compensation
- Decommission/swaps: discrete billed projects
- 2024 footprint: 12 countries
CPI-linked 10-15yr site leases deliver predictable, inflation-protected cashflows
Recurring site leases and multi-tenant co-location drive predictable cashflows with typical contract tenors of 10–15 years. CPI-linked escalators (Eurozone HICP 2024 ~2.4%) and pass-through clauses protect real value. Build-to-suit, installation, managed services and project fees add one-time and value-add revenue to complement tenancy income.
| Metric | 2024 value |
|---|---|
| Sites | 140,000 |
| Markets | 12 |
| Contract tenor (typ.) | 10–15 yrs |
| Eurozone HICP | ~2.4% |