Spain: Euskaltel profits up 41%
November 5, 2018
From David Del Valle in Madrid
Basque-country cable company Euskaltel saw its profits rise by 41.5 per cent to September 30th, hitting a total of €46.6 million.
The group, formed by Euskaltel, Telecable in Asturias and R in Galicia, earned €521.1 million in revenues, up 17.4 per cent on the same period last year. EBITDA amounted to €252.9 million, up 15.3 per cent.
This is good news for Euskaltel’s main shareholder, the UK’s Zegona, which recently acquired an additional 14.9 per cent in the company giving it a total stake of over 29 per cent.