Cellnex’s CEO, Tobías Martínez, received 3.35 million euros in 2022, which represents 32% less than the previous year, by not adding long-term incentives on this occasion. As stated in the Cellnex corporate governance report, of this total 1.3 million correspond to a fixed remuneration, while the annual variable remuneration amounts to 1.57 million.
The contribution to the social welfare plan adds another 325,000 euros and the remuneration in kind 33,600, and 125,000 euros are from the board of directors. On the contrary, Martínez has not received extraordinary incentives in 2022, a concept for which he pocketed 1.92 million in 2021.
After raising the company’s income by 38%
The Spanish telecom closes the last year of the “era of growth” with revenues that rose 38% to close to 3,500 million euros thanks to the latest acquisitions carried out during the year, such as the Hutchison towers in the United Kingdom.
The infrastructure manager boosted recurring cash flow by almost 40%, however it maintained the red numbers in the income statement due to amortizations, although with a significant reduction compared to last year. The firm maintains forecasts for this year, in which the company seeks to turn towards a model of fewer purchases and more optimization of the balance.
In addition, it estimates reaching accounting black numbers in “three or four years” and opens again to negotiate with financial partners the entry into the shareholding of subsidiaries, with the intention of improving the financial rating and reducing debt.
