Company

EI Towers, the independent leader in Italy in the operation of infrastructures used in radio and television broadcasting and in delivering telecommunications services

Overview

EI Towers is an Italian company that operates in the business of network infrastructure and integrated services for electronic communications for the benefit of network operators of the television sector, of publishers or publishers? consortia of radio industry, mobile telecommunications network operators (GSM/UMTS/LTE), wireless Internet providers (WiFi/WiMax), public utilities and government institutions.

Ei Towers Sede Lissone

EI Towers’ activity consists of managing a portfolio of approximately 4,000 infrastructures, of which 2,300 broadcasting sites and approximately 1,700 mobile sites, which are mostly technological facilities, poles or masts, distributed across Italy and dedicated to hosting transmission equipment and broadcasting antennas through which the Company hosts and manages more than 10,000 of its customers systems. In addition, the Company provides a more technological and comprehensive service to certain customers through the planning, design, construction and full-service operation of television broadcasting network infrastructures, including headend platforms. Within this framework, EI Towers also offers the service of managing contribution traffic, making use of its satellite and fibre optic network infrastructures; the Company also has a fibre optic backbone which has been developed over a route spanning more than 6,000 kilometers and a satellite infrastructure based on two up-link platforms and the availability guaranteed by long-life contracts for transponders.

EI Towers develops and operates its activity with its own personnel, as well as through a nationwide network of companies and professionals. EI Towers has thus combined the proven experience and know-how of Elettronica Industriale, a company with technological excellence and the operational arm of the Mediaset Group’s network management, with the dynamism and focus of the DMT Group, whose extensive customer portfolio has been maintained.

EI Towers’ objectives are thus follows: (i) the consolidation and expansion of the role as a leading independent tower operator, continuing to serve as a hub for aggregation with a totally industrial approach, due to its years of experience in acquiring and managing assets of entities operating in the same business; and (ii) the enhancement of services provided to its customers, with the offer of a wide range of integrated services.

EI Towers has been at the forefront of the industry, participating in international initiatives regarding service standards and regulations, and it has played a key role in the conversion of television networks from analog to digital technology, working with its partners and customers in order to encourage the respect of the timetables planned and to minimize inconveniences in the reconfiguration of television coverage.

Mission

EI Towers aims to consolidate its role as an independent and leading tower operator in Italy, in managing infrastructures used in radio and television broadcasting and in delivering telecommunications services, and to develop a comprehensive range of services dedicated to television networks.In working toward this objective, EI Towers, one of the major company of its kind in Europe, is planning to continue to remain a hub of activity, bringing the efficiency and effectiveness of management that originate from a totally industrial approach, combined with years of experience in the field.

Group Structure

Group Structure

Key Facts

Operation Start Date
1973
Core Geographic Market
Italy
Employees (as of 31 December 2019)
555
Share Capital
2.826.237,70
2019 Revenues
283,9 mln
Stock Exchange Period
2004 – 2018

Management

Marco Mangiagalli

Chairman

Guido Barbieri

CEO

Fabio Caccia
Chief Financial Officer

Riccardo Cecchi
Head of Legal Affairs

Rossella Agostoni
Head of Human Resources, Organization and Services

Alessandro Serio
Head of Corporate Affairs
Board of Directors Secretary

Antonio Papa
South Central Italy Operation Director

Antonio Preti
Chief Commercial Officer and Head of Broadcast Services Division

Piercarlo Invernizzi
Chief Technical Officer

Lazzaro Lampugnani Nigri
North Italy Operation Director

History

  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2019

    On December 2, 2019, within the scope of the complex acquisition of the exclusive control of Persidera S.p.A. by F2i SGR S.p.A., EI Towers acquires from Telecom Italia S.p.A. and GEDI Gruppo Editoriale S.p.A. the entire share capital of NetCo S.p.A., a newly established company benefiting from the partial and proportional division of Persidera S.p.A. and dedicated to the management of the transmission infrastructure distributed across Italy.

    On March 28, 2019, the deed of merger by incorporation of 2i Towers Holding S.p.A. and 2i Towers SpA in EI Towers SpA was signed and pursuant to art. 2501-bis and following of the civil code (“leveraged buyout”) in force since 29 March 2019. Following the merger, the capital of EI Towers SpA is owned directly by F2i TLC 1 SpA (60%) and Mediaset S.p.A. (40%).

  • 2018

    On March 16, 2018 EI Towers S.p.A. and Cairo Network S.r.l., a company wholly owned by Cairo Communication S.p.A., agreed on the finalisation of the previous agreements signed on January 27, 2015 focusing on the implementation and subsequent multi-year full service technical management (hosting, assistance and maintenance, use of broadcasting infrastructure, etc.) of the national digital terrestrial multiplex of which Cairo Network S.r.l. is holder of the rights of use.
    On March 22, 2018 EI Towers S.p.A. signed the renewal of the multi-year contract for the supply of hosting services, assistance and maintenance (full service) with the controlling company Elettronica Industriale S.p.A..
    During the 1H period the M&A activity has continued with particular focus on the mobile telecommunications segment; in particular, four companies (Isatech S.r.l., Highland S.r.l., AIR.NET S.r.l. and FPR S.r.l.) and assets were acquired for a total investment of euro 37.8m.
    On 16 July 2018 2i Towers S.p.A., a company vehicle indirectly held at 60% by F2i SGR and at 40% by Mediaset S.p.A., launched a voluntary public tender offer for all of the Company’s shares. As a result of the Offer, 2i Towers came to hold approximately 97.44% of the EI Towers shares. The remaining shares were purchased by the Offeror through the mandatory procedure of minority squeeze out. With the payment of the consideration for the Offer, which took place on October 12, 2018, F2i Fondi Italiani per le Infrastrutture Società di Gestione del Risparmio S.p.A. has acquired the exclusive control of the Company. On October 11, 2018, Borsa Italiana made effective from October 19 the delisting of EI Towers shares from the STAR segment of the MTA market.

  • 2017

    The Company completed one year ahead of the targets disclosed to the market the Group’s releveraging plan, based on the distribution of an extraordinary dividend in addition to the ordinary dividend and on the repurchase of treasury shares. The completion of the buyback plan, begun in September 2016, allowed the Group to hold approximately 4.83% of the share capital in the form of treasury shares.
    At the end of October, a bank loan agreement was signed to early repay the Eurobond maturing in April 2018 and to support operational management.
    Expansion activities continued during the year through acquisitions in Italy, with the objective of increasing the Group’s presence in the radio broadcasting and telecommunications sector, in order to reduce the exposure relative to the television broadcast. EIT Radio has consolidated its presence in the territory after the acquisition of Ganora TV S.r.l., Gepra S.r.l., Multireti S.r.l., in addition to 3 companies operating in Veneto and some business branches. In addition, several plot of lands and surface rights were acquired.

  • 2016

    In 2016, the company set up EIT Radio S.r.l., with the aim of consolidating the fragmented radio transmission tower market. One of the main operations was the acquisition of Società Bresciana Telecomunicazione S.r.l., with about 100 radio transmission sites operating in the north of Italy.
    The company also continued to grow in the telco infrastructure sector, with the acquisition of sites both in Sardinia and in central and northern Italy (SA OGHE TC S.r.l., Giardino De Sanctis S.r.l., SAGA S.r.l., VIP Electronics S.r.l., FP Tower S.r.l.) generating total EBITDA of about 1,5 million.
    In 2015/2016, EI Towers S.p.A. put a lot of effort into the implementation of its growth by acquisition plan, with the aim of diversifying the business mix in view of expected market consolidation in the area of mobile telephony infrastructure. The Group played an active role in the competitive sale of Italy’s main assets (Galata, Inwit), adopting a rigorous approach to their valuation with the aim of satisfying both the strategic requirement for diversification and the need to generate returns for shareholders.

  • 2015

    2015 was a particularly important year for the company. In the telecommunications business area, scouting for market opportunities continued and several deals were closed to acquire operators in central and northern Italy (Tecnorad Italia S.p.A., DAS IMMOBILIARE S.r.l. and a series of operators in the Italian region of Liguria), with an EBITDA of about 6 million.
    On the television broadcasting front, on the other hand, EI Towers S.p.A. signed an agreement with Cairo Communication Group to implement and subsequently operate a national multiplex in full service mode on the digital terrestrial technology platform.
    EI Towers subsidiary Nettrotter S.r.l. was also established in 2015, with a mission to create and develop a nationwide network dedicated to the Internet of Things. In its pursuit of this, the company signed a partnership agreement with Sigfox, the leading global operator of wireless networks dedicated exclusively to IoT and machine-to-machine communications.

    VOLUNTARY EXCHANGE AND TENDER OFFER ON RAI WAY – In February 2015, EI Towers S.p.A. promoted a voluntary exchange and tender offer on all the ordinary shares of Rai Way S.p.A.. This high-profile initiative, offering potential benefits for all stakeholders, had the aim of creating a sole major Italian provider of infrastructure for hosting television and radio broadcast equipment, with the capabilities to play a leading role in the mobile telecommunications sector too.

    The operation would have delivered numerous benefits, including:

    • the creation of a more efficient market structure, which at present involves the parallel operation of two digital terrestrial distribution platforms and the cost structure inefficiencies this entails, in such a way as to put Italy on a level playing field with the main industrialized countries in western Europe (UK, France, Spain), where TV broadcast infrastructure is managed by a sole national operator;
    • the creation of a solid and efficient infrastructure platform that satisfies the needs of network operators from both technological and business points of view;
    • the creation of a new operator with a more diversified asset and customer profile, taking the form of a bigger and stronger group, with a capital structure that is more efficient and better aligned with the main market operators, and representing an interesting investment prospect for the world’s leading institutional investors.

    The intention expressed by the public administration to retain a 51% stake in Rai Way S.p.A. made it impossible to pursue the offer.

  • 2014

    In 2014, the acquisitions were completed of two operators in central and southern Italy (Hightel S.p.A. and Sart S.r.l.), with an EBITDA of about 3 million.

  • 2013

    EI Towers began implementing its consolidation strategy by issuing a corporate bond on regulated markets, with a nominal value of 230 million, a five-year maturity and a 3.875% coupon rate. The new liquidity allowed the company to drive growth through the acquisition of small and medium sized tower operators in Italy.

  • 2012

    As of January 1, 2012, DMT S.p.A. incorporated EI Towers S.p.A., taking on the name of the incorporated company.  The personnel and assets of both companies were merged into a single entity operating with a portfolio of around 2,700 sites, including 2,300 owned and/or available, developing a full-service business model by integrating the traditional services offered by a tower operator with additional services with high-technology added value. Historical overviews of DMT S.p.A. and Elettronica Industriale S.p.A. are provided hereafter, with a specific focus in the latter case of the part spun off to EI Towers

DMT

DMT was set up in January 2000, when several of the company’s managers acquired the Elettronica Industriale S.p.A. (Mediaset Group) business unit dedicated to the planning, production, marketing and sale of systems for television broadcasting. The transaction entailed the acquisition of know-how and personnel (but no towers).

DMT history

Elettronica Industriale

Elettronica Industriale was set up in 1973 as a company active in the planning and construction of electronic devices and in the design, construction and operation of television systems. The first activities carried out by Elettronica Industriale regarded the design and building of systems for the broadcast and repetition of television signals of foreign broadcasters airing programs in the Italian language, including Televisione Svizzera, Tele Montecarlo and Tele Capodistria.

Elettronica Industriale history