Masmovil sales up 10% in Q2, confirms FY targets despite Covid effect

News General Spain 28 JUL 2020
Masmovil sales up 10% in Q2, confirms FY targets despite Covid effect

Spanish telecommunications provider Masmovil, the country’s fourth largest network operator, continued to grow in the second quarter of 2020 in spite of strong Covid-19 impact, reporting revenues of EUR 453 million, up 10 percent year on year compared to a 16 percent growth in Q1. Service revenues came to EUR 416 million, up 18 percent, after the company managed to add 153,000 postpay and 108,000 fibre customers from April to June even after the portability process was temporarily suspended by the government.

Adjusted EBITDA was up 28 percent year on year to EUR 143 million, with the company's EBITDA margin climbing to 27 percent in Q2 and 32 percent in H1, the latter up 5 percentage points. Reported net income was EUR 1.5 million in the first 6 months of the year, compared to a EUR 34 million loss a year earlier. 

Masmovil ended June with a total of 10.7 million lines across its wide portfolio of brands (Masmovil, Yoigo, Pepephone, Llamaya, LycaMobile and Lebara, among others), up 29 percent compared to Q2 2019. Around 6.0 million of the total are postpay mobile clients, up from 5.2 million a year earlier, and 2.9 million prepay, up 59 percent year on year thanks in part to the addition of 1.5 million lines from Lyca Spain, the MVNO it acquired last month for EUR 361 million.

Masmovil also managed to add 480,000 fixed broadband lines in the 12-month period, reaching a total of 1.7 million at the end of June, up 39 percent year on year. The company’s FTTH footprint came to 25.2 million at the end of Q2, up from 19.8 million a year earlier, thanks in part to co-investment agreements signed with Orange and Vodafone (13.8 million homes passed) and bitstream agreements with third parties (11.5 million). Capex for the first half of 2020 was EUR 185 million, including EUR 43 million to build 400,000 proprietary fibre lines.

In its statement, Masmovil said its first half performance showed it would not be “materially affected” by the coronavirus pandemic and that it was reiterating its full-year guidance of adjusted EBITDA at EUR 570-600 million, with a margin of 30-32 percent, in 2020, rising to EUR 670-700 million, with a margin of 32-34 percent, in 2021, excluding the Lyca Spain acquisition. It did add that it expected adjusted EBITDA for 2020 to be in the lower end of the guidance range while adjusted EBITDA for 2021 should be in the upper end of the range.


 

Categories:

General

Companies:

Lebara,  Yoigo,  Lycamobile,  Masmovil,  Pepephone,  LlamaYa

Countries:

Spain

Tags:

Financial figures

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