MásMóvil boosts revenues and subs
October 30, 2019
MásMóvil has presented its results for the first nine months of the year. It says the company, Spain’s fourth largest telco, saw record levels both in the growth of its service revenues and profitability. In addition, the Group has accelerated its commercial performance, being the third quarter the best of the year in terms of attracting new broadband and mobile postpaid additions.
During the first nine months of the year, MásMóvil increased the Group profitability and has obtained a record EBITDA of €337 million (+ 40 per cent). In the third quarter, EBITDA reached €120 million, 41 per cent more than the same period last year, also setting a new quarterly record.
Service revenues increased 23 per cent in the first 9 months of the year, compared to the same period of last year, reaching €1.05 billion. During the third quarter, these revenues reached €370 million, an increase of 21 per cent vs. the same period last year.
Total revenues during the first 9 months of the year were €1.2 billion, 17 per cent more than the same period of last year. During the third quarter, revenues have accelerated and reached a total of €427 million, 18 per cent more than last year.
In the first 9 months of the year, the Company obtained an adjusted net profit of €84 million and a net result of -€21 million, due to the impact on the Group’s purchase of Providence convertible bond. This negative result will become a positive net result once the sale of about 1 million fibre homes to an infrastructure fund for €217.5 million, which is already announced and planned to close before year end.
“We continue to maintain the excellent growth rate of recent years in both commercial and financial terms which will allow us to reach the updated guidance that we have recently communicated to the market,” said Meinrad Spenger, CEO of MásMóvil.