Masmovil to join Spain's Ibex 35 on 24 June

News General Spain 14 JUN 2019
Masmovil to join Spain's Ibex 35 on 24 June

The shares of Masmovil, Spain’s fourth largest network operator, have been added to the Ibex 35 benchmark stock market index of Spain's main companies. During a scheduled meeting, the Technical Advisory Committee of the Ibex decided to add Masmovil's shares to the index and delete those of Tecnicas Reunidas as of 24 June. “Our addition to the Ibex 35 represents the recognition and consolidation of an industrial project that has led the growth of the telecommunications market in Spain over the past two years,” said Masmovil CEO Meinrad Spenger in a statement welcoming the decision.

The operator was founded in 2006 and in 2017 became the first and only company to move from the narrower alternative market, MAB, to the main segment of Madrid's stock market (Mercado Continuo) after seeing its value almost triple following its acquisition of mobile operator Yoigo. Since debuting on the stock market, the company's value has multiplied by over 20 and is now trading at around EUR 2.7 billion.

Masmovil passed 8 million mobile and fixed line customers in the first quarter of 2019, including 7 million mobile customers and 1 million fixed line subscribers, after increasing its total base by around 332,000 year on year thanks to its use of different brands (Masmovil, Yoigo, Pepephone, Llamaya and Lebara) to target different market segments. The company reported net revenues of EUR 383 million in Q1, up 13 percent year on year, with net profit rising to EUR 22 million, up 168 percent year on year.


 

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