Romania's telco Digi reports 11% y/y consolidated revenues growth

Digi Communications N.V. (BVB: DIGI) announced significant financial and operational performance in the first quarter of 2023, highlighted by an 11% increase in the Group's consolidated revenues (containing revenues and other earnings) by 11% compared to the same period of the previous year, to EUR 399 mln.

Adjusted EBITDA marked an increase of 7.5% compared to the result in the first quarter of 2022, to EUR 134 mln. Adjusted EBITDA (excluding the impact of IFRS 16) increased by 7.4% to EUR 113 million.

The shares of the company, with a capitalisation of RON 3.62 bln (EUR 725 mln), edged down, however, by 0.55%, upon the release.

The Digi Group continued to grow across its entire portfolio of services, and the number of revenue-generating units (RGU) increased by 16% y/y to 21.6 mln.

The mobile telephony segment stood out and occupies the first position among the Group's service segments. Continuing the growth rate of the previous periods, the number of revenue-generating units reached 9.6 million at the Group level.

In Romania, the mobile services segment expanded by 19.1% y/y to 5.2 mn RGU, fixed internet services posted a robust 11.2% y/y growth as well up to 4.3 million RGU, while the segment of pay-TV services (cable and satellite) increased by 6.2% compared to the same period of last year, up to 5.5 mln UGRs.

Operations in Spain recorded a remarkable new performance due to the increase in the number of users of fixed services (fixed internet and fixed telephony) by 68% compared to the same period of the previous year, up to 1.3 mln RGU. The number of mobile users increased significantly by 26% and reached a total of 4.0 mln RGU.

(Photo source: Digi Romania)