Infrastrutture Wireless Italiane SpA Q2 2024 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Roshan Ranjit - Deutsche Bank - Analyst : Great. Good morning, everyone. Thank you for the question. My question is on the Olo progression. And I think as you alluded to last quarter, we did see a pickup in the net adds. I guess my question is that didn't necessarily translate to a big boost in the revenue number in the quarter. I guess that's down to the IoT mix. So how should we think about that mix going into Page 2? Should we expect a further pickup in the net adds, will that be driven by IoT? And anything you could say around the pricing differential between them, FWA pulp and an IoT part? That would be very helpful. Thank you. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JULY 31, 2024 / 8:30AM, INWT.MI - Q2 2024 Infrastrutture Wireless Italiane SpA Earnings Call

Question: Roshan Ranjit - Deutsche Bank - Analyst : Thank you. And if I could just follow up, what would do you still expect that FWA access -- FWA acceleration to come in the second half of the year? Was that now kind of pushed out '25?

Question: Roshan Ranjit - Deutsche Bank - Analyst : Okay. Thank you.

Question: Andrew Lee - Goldman Sachs - Analyst : Good morning everyone. Have a question just on shareholder return. See obviously haven't quite completed your buyback yet, but your net debt to EBITDA is running quite low and you guys are well below the low end of your targeted range by the end of this year. Wonder if you just comment on and how you're thinking about capital allocation understanding is that kind of inorganic or M&A investment opportunities are scarce? And if shareholder returns are the obvious way to allocate capital? How quick -- how quickly we make a decision on this, given that it looks like the balance sheet is a bit underutilized as things stand? Thank you.

Question: Andrew Lee - Goldman Sachs - Analyst : Thank you.

Question: Stefano Gamberini - Equita SIM S.p.A - Analyst : Hey, good afternoon, everybody, and many thanks for taking my question. As regarded the full year guidance, could we expect that the revenues could be in the low part of the arranger of EUR1 billion and EUR30 million and EUR160 million considering. This trend of all of that remains, if I understood correctly, at the low mid low single digits in forthcoming quarters. And if you can elaborate a little bit also on 2025 expectations, considering that CPI probably will be close to 1%. And what is a -- we can see the upside, for anchor tenants called that commitment versus the CPI level. Could you elaborate a little bit about this? Thanks a lot.

Question: Usman Ghazi - Berenberg - Analyst : Hello. Thank you for the opportunity. I just wanted to touch base on the Anchor PoPs, which, as we mentioned in the presentation, was a little bit below the 600 per quarter run rate is around 400, I think in Q2 you mentioned there's some phasing elements there. Just wanted to confirm that you would expect us to get back up to kind of the 600 range through the second half. And then just related to this, you've mentioned that you would expect H1 growth, 8.6%. That's a better proxy for how you expect to be doing in the second half, then the Q2 run rate, which is in the low eight. And could you perhaps bridge as you know the main kind of moving parts as to how you go from the Q2 kind of low H2, which is what you're implying is going to be closer to the 9% 5% in terms of revenue growth. Thank you.

Question: Usman Ghazi - Berenberg - Analyst : Well, thank you.

Question: Fabio Pavan - Mediobanca - Analyst : Yeah, hi. Thank you for taking my question. I found the slide on the Italian digital infra market, quite interesting opportunity to share your view on it for Italy to invest more on 5G infrastructure. My question is in your conversation with TLC player, the you have the sense that this point is well taken and we may have an acceleration eventually, if not in the second half of this year in the first part of next year, thank you.

Question: Fabio Pavan - Mediobanca - Analyst : Thank you.

Question: Giorgio Tavolini - Intermonde SIM S.p.A - Analyst : Hi, good morning. Thanks for taking my questions. The first one is on the exercising of the 51% option in multi network. I understand this is a very, let's say, not a material project, but could be very significant in for future cooperation with the been in there for other opportunities. And I was wondering if you had any and further comment on this. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JULY 31, 2024 / 8:30AM, INWT.MI - Q2 2024 Infrastrutture Wireless Italiane SpA Earnings Call The second question is on the Iliad remedies. If you get any -- if you've got any update on the current situation? And the third one very quickly is on the electromagnetic limits. I was wondering if you see any changes so far from your anchor tenant in the redefinition of or optimization of their network architectures. Thank you.

Question: Giorgio Tavolini - Intermonde SIM S.p.A - Analyst : Many thanks.