What EuroTeleSites AG does

EuroTeleSites AG is a Vienna-headquartered, publicly listed independent tower company (Vienna Stock Exchange: ETS, ISIN: AT000000ETS9) that was spun off from Telekom Austria Group and listed in September 2023. It provides passive telecommunications infrastructure—primarily macro towers and rooftop sites—for rental to mobile network operators, ISPs, and government entities across six Central and Eastern European countries: Austria, Bulgaria, Croatia, North Macedonia, Serbia, and Slovenia. As of Q1 2026, the company operates 13,837 tower sites with a 1.25x tenancy ratio and 3,475 third-party tenants, making it Europe's third-largest listed tower company and a top-30 global tower operator.

The company's product offering is a single unified service line: the rental of passive wireless infrastructure under long-term contracts with inflation-indexed escalators, supplemented by tailor-made build-to-suit solutions for network operators and landlord management services for property owners hosting infrastructure. Revenue is generated through recurring site rental fees negotiated in master lease agreements, with the anchor tenant A1 (part of the América Móvil group) representing the dominant share of revenue but with growing third-party diversification. The business operates without proprietary software products; the technology stack consists of third-party SaaS platforms including Sitetracker for asset management, Farseer for financial planning, and HiBob for HR, deployed in 2025 to scale operational capacity.

The business model is capital-intensive and infrastructure-asset-based, with revenue characterized by high visibility due to long contractual tenors and contractual inflation adjustments. FY2025 revenue was 280.2 million EUR (+3.7% YoY) with EBITDAaL margin of 57.6%, and Q1 2026 revenue accelerated to 72.5 million EUR (+7.1% YoY) with EBITDAaL margin of 61.4%. The company is owned 56.96% by América Móvil and 28.42% by ÖBAG (Austrian state holding), carries investment-grade ratings (BBB- Fitch, Baa2 Moody's, both with positive outlook), and is actively deleveraging (net debt/EBITDA from 6.2x to 5.5x). The go-to-market is enterprise B2B direct sales to MNOs and ISPs through local teams in each country, with no consumer-facing channels or software distribution.

Name

EuroTeleSites AG

Legal name

EuroTeleSites AG

Website

https://eurotelesites.com

Company type

Public

Founded year

2023

Operating status

Operating

Headcount range

51–100 employees

Short description

EuroTeleSites AG is a Vienna-listed independent tower company operating 13,837 passive telecom infrastructure sites across Austria and five CEE countries, serving mobile network operators, ISPs, and government entities under long-term lease agreements.

Ownership category

akta.pro rank

Product category

Telecommunications Tower Infrastructure

NAICS

Wired and Wireless Telecommunications Carriers (except Satellite) (51711), Wireless Telecommunications Carriers (except Satellite) (517112)

SIC

Radiotelephone Communications (4812), Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Macro Towers (Ground-Based & Rooftop) (HDAIAKAA)

akta.pro secondary industries

Real Estate, Leasing & Colocation Management (Landlords/REITs) (HDAIAKAJ), Tower Operations & Maintenance (Field Services) (HDAIAKAF), Neutral Host & In‑Building Connectivity (DAS/Small Cells) (HDAIAGAC)

Keywords

• Passive telecom infrastructure
• Tower site rental
• Wireless communications infrastructure
• Mobile network infrastructure
• Build-to-suit solutions

Headquarters

HQ city

Vienna

HQ country

Austria

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Technology or R&D, Supply Chain

Revenue model

1. Tower Infrastructure Rental: Long-term rental of passive telecommunications infrastructure (towers, macro sites) to mobile network operators and other telecom providers. Revenue generated from monthly/site rental fees with contractual inflation adjustments. Recurring revenue model with high visibility.
2. Tailor-Made Solutions: Custom infrastructure solutions including build-to-suit services for network operators

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

EuroTeleSites AG rents passive telecommunications infrastructure (macro towers, rooftop sites, and communication sites) to mobile network operators, ISPs, and government authorities across six CEE countries (Austria, Bulgaria, Croatia, North Macedonia, Serbia, Slovenia). The company operates approximately 13,820 communications tower sites under long-term inflation-indexed master lease agreements, with anchor tenant A1 representing the majority of revenue. It also provides tailor-made build-to-suit solutions and landlord services.

Product overview

EuroTeleSites AG is a leading independent Tower Company providing passive wireless communications infrastructure across Austria and five Central and Eastern European countries (Bulgaria, Croatia, North Macedonia, Serbia, Slovenia). Its core offering is the rental of passive infrastructure — communications tower sites including macro towers and rooftop installations — to mobile network operators and other telecommunications providers. The company operates approximately 13,837 tower sites (as of Q1 2026) and provides related landlord services, maintenance support, and billing management for property owners hosting its infrastructure. The portfolio consists of a single unified service line: passive telecom infrastructure rental, with no modular or software-based products.

Differentiator

Problem solved

Functional benefit

Products and services

• EuroTeleSites Core Offer (Passive Infrastructure Rental) Long-term rental of passive telecommunications infrastructure — approximately 13,820 macro tower sites and rooftop installations — to mobile network operators, ISPs, and government entities across Austria, Bulgaria, Croatia, North Macedonia, Serbia, and Slovenia. Revenue is generated from monthly or site-specific rental fees with contractual inflation adjustments under master lease agreements.
• Tailor-Made Solutions (Build-to-Suit Services) Custom infrastructure solutions for mobile network operators, including build-to-suit tower construction and site deployment tailored to specific network operator requirements for 5G rollout and network densification across CEE markets.
• Service for Landlords Service for property owners who host EuroTeleSites telecommunications infrastructure on their land or rooftops, providing rental income, maintenance support, and billing management for property owners leasing space to telecom operators.

Quantifiable outcome

• EBITDAaL margin of 57.6% (FY2025) demonstrating high profitability of recurring infrastructure model
• +3 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• Fitch RatingscoreOthers · 1 January 2024Investment grade rating agency confirming BBB- rating with positive outlook. Fitch revised outlook from stable to positive in September 2025, reflecting confidence in EuroTeleSites' financial strength and strategy.
• A1 (Anchor Tenant)coreStrategic or Co-development Partner · 1 January 2023Primary anchor tenant with long-term master lease agreement. A1 is the leading telecom operator in Austria and part of the América Móvil group. Represents the majority of EuroTeleSites' tenant base.

Scale indicators11 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Helios Towers: Africa-focused independent tower operator (~14,000+ sites) with similar colocation/up-sell commercial model, tenancy ratio improvement strategy, and emerging-market footprint. Comparable in site-count scale and tenancy expansion mechanics, though operating in EMEA emerging markets rather than CEE.
• IHS Towers: Independent tower operator with ~40,000 sites across Africa, Latin America, and the Middle East. Comparable business model — multi-country emerging-market towerco with third-party tenant growth, managed-services offerings, and ongoing deleveraging — though operating in lower-ARPU regions than EuroTeleSites.
• INWIT: Italian-listed tower company (~22,000+ macro sites + DAS) majority-owned by Telecom Italia (TIM). Closest peer by listing structure (controlled by anchor MNO), single-country focus, and pure-play tower model with high EBITDAaL margins — analogous to EuroTeleSites' A1/Ameríca Móvil relationship.
• Vantage Towers (Vodafone): European tower operator spun off from Vodafone, with ~82,000 sites across ten European markets. Closest comparable in terms of MNO-anchor-tenant model (Vodafone), long-dated master leases, and listed towerco economics; EuroTeleSites is a smaller-scale CEE-focused version of the same playbook.

Broad incumbents

• Cellnex Telecom: Europe's largest independent tower operator with ~112,000 sites across multiple Western and Southern European countries. Directly comparable business model (passive infrastructure rental to MNOs, inflation-indexed contracts, deleveraging-led equity story) but operating at significantly larger scale and in Western Europe rather than CEE.
• American Tower Corporation: Largest global independent tower REIT with ~225,000 sites across the US, Europe (CoreSite data centers), Africa, and Asia. Benchmarks EuroTeleSites on towerco capital structure, dividend policy, and M&A discipline, even though scale and geography differ materially.
• SBA Communications: US-listed tower REIT with ~39,000 sites globally. Comparable listed-towerco financial model and capital structure benchmarks (leverage targets, AFFO multiples), but operates in the Americas rather than Europe — useful for valuation triangulation but not a direct geographic peer.
• Deutsche Funkturm (Deutsche Telekom subsidiary): Wholly-owned tower subsidiary of Deutsche Telekom operating ~36,000 sites in Germany. Similar captive-MNO-towerco structure but not independently listed and limited to Germany; useful comparable for the master-lease economics that underpin EuroTeleSites' A1 contracts.
• Telxius (Telefónica infrastructure): Tower and subsea cable infrastructure subsidiary of Telefónica operating in Europe and Latin America. Comparable MNO-captive infrastructure carve-out story and CEE-adjacent footprint; relevant benchmark for EuroTeleSites' tower-only vs. multi-asset infrastructure economics.

Regional players

• T-Mobile Czech & Slovak towers / CETIN infrastructure: Passive infrastructure operator in Czech Republic and Slovakia under PPF Group, part of broader CEE telecoms infrastructure landscape. Adjacent CEE peer that helps frame the regional towerco ecosystem and potential M&A or partnership counterparties for EuroTeleSites' footprint expansion.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/eurotelesites

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about EuroTeleSites AG