MásMóvil ups FY guidance
October 29, 2018
MásMóvil has published its results for the first nine months of the year in which the company increased profitability and continued leading the growth of the telco market in Spain.
In this period, MásMóvil reached a net income of €57 million and an adjusted net income of €106 million. In response, the company has updated and increased its guidance to reach an EBITDA by the end of FY18 of €330 million, compared to €300 million of the initial guidance.
MásMóvil continued increasing the profitability of the group in the first nine months of the year reaching €240 million EBITDA (+42), more than 80 per cent of full year guidance. EBITDA margin reached 23 per cent.
In the third quarter, EBITDA reached a new record of €85 million, €5 million more than the previous quarter (+6 per cent), and 32 per cent more than the same period of the last year. EBITDA margin in the quarter has reached 23 per cent vs 19 per cent of the same period of the last year.
In the first 9 months of 2018, the company delivered Service Revenues of €859 million (+17 per cent yoy). During the third quarter, service revenues reached €305 million, +16 per cent vs the same period of the previous year.
Total revenues during the first 9 months of the year grew to €1.038 million (+9 per cent). During the third quarter, total revenues reached a total of €362 million, +6 per cent vs last year.
By the end of the third quarter of the year, the company had 14.4 million households covered with its fibre offer – including the agreement with Orange and the 39 provinces available with the NEBA offer-, of which 4.8 million are accessible with its own FTTH network.
Considering the agreement with Vodafone that will add close to 1 million households before the end of the year, MásMóvil Group’s FTTH own network reaches 5.8 million households (40 per cent of its current total footprint).
“As demonstrated by our results for the first nine months of the year, MásMóvil continues leading the growth of the telecommunications market in Spain”, said Meinrad Spenger, CEO of MásMóvil Group.