Romanian telecom group sees lower profit, shares down 18% since listing

Digi Communications

Romanian telecom group Digi Communications recorded a net profit of EUR 14.8 million in the first quarter of this year, down 6% compared to the same period of last year. The group’s revenues went up 2.7%, to EUR 232.8 million.

Romania is the group’s biggest market, with EUR 163.1 million in revenues in the first three months, 1.1% lower year-on-year. The group’s revenues in Hungary also declined by 0.5%, to EUR 37.3 million. Meanwhile, the group recorded a 29% growth in Spain, where its sales reached EUR 26.9 million.

Digi Communications is the leader of the local cable TV and fixed internet market. It also provides mobile communications services.

The group listed its shares on the Bucharest Stock Exchange after the biggest private IPO in Romania, in May 2017. The DIGI shares have lost 18% of their value, when compared to the IPO price, and the group’s capitalization went down by over EUR 170 million, to EUR 710 million.

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