Rai Way, the tower company owned by Rai, has reported positive financial results for 2023. Revenue grew 10.8 per cent to €271.9 million, adjusted EBITDA increased 19.4 per cent to €180.3 million, and net profit climbed 17.7 per cent to €86.7 million.

The Board of Directors has also approved Rai Way’s industrial plan for 2024-2027. The plan focuses on strengthening Rai Way’s position as a provider of media distribution services and digital infrastructure. The company aims to achieve this by expanding its content distribution network and building a modern nationwide infrastructure platform.

Investments will target sustainable, long-term growth. By 2027, Rai Way expects core revenues to reach €316 million (3.8 per cent annual growth), adjusted EBITDA to reach €207 million (+3.5 per cent), and profit to reach €92 million (+1.4 per cent).

Rai Way plans to achieve growth through both internal initiatives and acquisitions to accelerate progress towards its goals. The plan includes stable maintenance investments and significant development investments (€240 million total), split between traditional businesses and new diversification initiatives.

Rai Way’s debt is expected to reach €286 million by the end of the plan period. This level is considered sustainable and allows Rai Way to pursue strategic acquisitions while also improving shareholder returns through a healthy capital structure.

During a press conference, Rai Way CEO Roberto Cecatto expressed openness to a potential merger with Mediaset-owned Ei Towers.

“There’s merit to the idea. Both Rai Way and Ei Towers are strong companies with a lot of expertise. But we need to carefully examine the details. This indecision is hurting the market and the companies involved. I hope for clarity to be reached within a reasonable timeframe,” Cecatto explained.

Meanwhile, Italian daily La Repubblica reports that the Italian government plans to give the greenlight to the long-anticipated merger between Rai Way and Ei Towers.

A Prime Ministerial Decree is expected shortly after Easter, removing the existing 30 per cent ownership floor for Rai in Rai Way, allowing for a significant reduction in Rai’s stake. The merger is seen as beneficial due to the potential synergies and resource generation.