Spanish telecommunications provider Masmovil, the country’s fourth largest network operator, reported net revenues of EUR 1.93 billion for 2020, up 15 percent year on year, in its first trading update since November 2020. The company was acquired by the Lorca Telecom consortium of buyout funds KKR, Cinven and Providence at the end of last year and subsequently delisted from the stock market.
Adjusted EBITDA was up 37 percent year on year to EUR 462 million in 2020, with the company's EBITDA margin rising 5 percentage points to 33 percent. Masmovil also revealed that revenues continued rising, by 18 percent year on year, to EUR 527 million in the first quarter of 2021, while EBITDA grew 38 percent to EUR 184 million.
Masmovil ended March with a total of 11.8 million mobile and fixed line customers, up 27 percent year on year, having increased its mobile base by 31 percent thanks to its use of a wide-ranging portfolio of brands (Masmovil, Yoigo, Pepephone, Llamaya and Lebara, among others) to target different market segments. Around 6.6 million of the total are postpay mobile clients, up 1 million year on year.
The group also added over 500,000 fixed broadband lines to reach a total of 2.1 million at the end of Q1, up 31 percent year on year. Masmovil said its FTTH footprint grew to 26.4 million at the end of 2020, up from 23.4 million a year earlier, while 5G services were available in 340 localities across 39 Spanish provinces.
Masmovil is set to grow yet further this year if its EUR 2 billion friendly bid to take over rival firm Euskaltel secures the approval of at least 75 percent of shareholders and is cleared by Spain's competition and regulatory authorities.
