INWIT’s second-quarter revenue barely moved—down 0.8% to €267 million—yet net profit tumbled 15.2% to €79.3 million. The gap between a resilient top line and a shrinking bottom line captures the twin pressures now bearing down on Italy’s largest tower operator: rising financing costs and a legal battle with the two anchor tenants that supply roughly 85% of its revenue.
The board approved the consolidated figures on 28 July 2026, confirming that the half-year results were in line with the company’s own guidance. For the first six months, revenue reached €531.1 million, EBITDAaL came in at €380.9 million, and net profit fell 13.2% to €160.3 million.
The second quarter alone showed a sharper deterioration: EBITDAaL dropped 2.8% to €190.9 million, EBIT declined 5.6% to €137.8 million, and recurring free cash flow contracted 21.6% to €123.9 million.
Management attributed the softer performance to a challenging market environment and the uncertainty surrounding the Master Service Agreements with TIM and Fastweb+Vodafone. Those agreements are now the subject of a high-stakes courtroom confrontation. In mid-July, the Milan Court rejected INWIT’s urgent request to suspend TIM’s withdrawal from the MSA, ruling that the company had not demonstrated imminent and irreparable harm. A day later, a separate judge dismissed a similar petition aimed at blocking Fastweb’s exit.