Inwit stock: Cash flow rises as Q3 profit declines

Inwit stock is in focus after the tower operator reported weaker third-quarter earnings but stronger recurring cash flow and confirmed its 2026 targets. In a press release dated November 10, INWIT said it expects growth to resume in 2027 despite continuing uncertainty over master service agreements with major customers. The company also disclosed further developments in its disputes with TIM and Fastweb in its INWIT press release.

Weaker quarter, resilient cash generation

Revenue for July through September was 268.6 million euros, down 0.9 percent from the same period a year earlier. Net profit fell 11.8 percent to 81.3 million euros, while EBITDA after lease costs declined 2.8 percent to 192.3 million euros and its margin narrowed to 71.6 percent.

Recurring free cash flow increased 9.6 percent to 186.0 million euros. For the first nine months, recurring free cash flow was 486.1 million euros, broadly stable year on year, while net debt stood at 5.314 billion euros and leverage improved to 5.5 times from 5.7 times at the end of June.

Contract disputes remain central

INWIT said the Milan court rejected interim applications connected with the Fastweb and TIM disputes on October 19 and October 21, respectively. The company maintains that the MSA termination notices are not valid and has taken legal action to protect its position.

For the TIM dispute, assisted negotiations ended without agreement on October 15. Italy's communications regulator AGCOM has invited the parties to a meeting on November 26 to assess whether the contractual issues can be addressed through a conciliation process.

Targets stay unchanged

INWIT retained its 2026 revenue target of 1.05 billion to 1.09 billion euros, an EBITDA margin of about 90 percent and an EBITDAaL margin of about 72 percent. Recurring free cash flow is expected to reach 550 million to 590 million euros, with a dividend of at least 0.55 euros per share and leverage targeted at 5.5 times.

Inwit stock traded at 7.48 euros on Lang & Schwarz at 17:11 CET on Friday, November 13, 2026.

Italy's FTSE MIB provides the broader market context for Inwit investors.

Further company developments are available in more news and analyses on Inwit stock.