By John Celentano, Inside Towers Business Editor American Tower (NYSE: AMT) has become, through strategic acquisitions and a record number of new builds, the largest publicly held tower company in the world. On a pro forma basis, including towers from its pending acquisition of Telefonica’s Telxius Towers, announced in January, AMT’s global portfolio is nearly 215,000 towers in 20 countries.
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AMT reported total 2020 property leasing revenues of almost $8.0 billion, up about 7 percent over $7.5 billion in 2019. Adjusted EBITDA grew nearly 9 percent year-over-year to $5.2 billion and consolidated AFFO came in at $3.8 billion, up 8 percent YoY.
Capital expenditures in 2020 were $1.1 billion, up 4 percent from $1.0 billion in 2019. Discretionary capex for new tower builds, tower upgrades and ground lease purchases totaled just over $900 million. The balance went towards tower maintenance and corporate facility investments. Continue Reading