Digi Communications, a Romanian telecom group that also operates in Hungary, Spain and Italy, recorded consolidated revenues of EUR 575 million in the first half of 2019, up by 18% compared to the same period of 2018.

The number of revenue generating units (RGUs), which measures the number of subscriptions for one of the group’s services, increased by 7% in the 12 months ended on June 30, 2019, to 15.5 million.

The group’s adjusted EBITDA (operating profit before amortization, depreciation of assets and interest) increased by 25%, to EUR 199 million. However, the bottom line went down compared to the first half of 2018, to EUR 3.2 million (from EUR 12.9 million), due to higher amortization and financial costs. In the second quarter, the group recorded a net profit of EUR 20.8 million.

The group’s revenues in Romania amounted to EUR 367 million in the first half, up 8.8% year-on-year, driven by higher number of subscriptions for cable TV and fixed internet services.

Revenues in Hungary increased by 37%, to EUR 110 million, and the business in Spain, which focuses mainly on mobile communications, increased by 52%, to EUR 87 million.

Digi Communications is controlled indirectly by Romanian investor Zoltan Taszari. The group has a market capitalization of RON 3 billion (EUR 640 million).

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editor@romania-insider.com