Virgin Telco launch boosts Euskaltel’s results
July 24, 2020
From David Del Valle in Madrid
The recent launch of Virgin Telco throughout Spain seems to have had a positive impact on Euskaltel’s performance. In the first half of the year, the nation’s fifth-largest telco managed to increase both its profit and subscribers. Up to June 2020, the company made a profit of €35.5 million, up 55 per cent versus the same period last year. Total revenues grew by 0.3 per cent to €171.6 million.
In the last three months, Euskaltel managed to attract 11,300 subscribers, of which 6,500 were acquired by Virgin Telco, predominantly in just one month.
Currently, Euskaltel covers 19 million homes in Spain, with an average of 3.69 products per subscriber in the second quarter: 11,000 new services in broadband to 607,000; 8,000 new services in pay–TV to 500,000 and 20,000 new mobiles lines to 1.18 million.