July 27, 2021

Euskatel earns 46.6 million until September, 41.5% more, pending the offer of a British fund

Euskatel earns 46.6 million until September, 41.5% more, pending the offer of a British fund


MadridUpdated:

The Euskaltel Group has earned 46.6 million euros in the first nine months of 2018, 41.5% more than in the same period of 2017, thanks to higher revenues, the company reported Monday in a statement to the National Securities Market Commission (CNMV).

The telecommunications group, which integrates operators Euskaltel (Basque Country), Telecable (Asturias) and R (Galicia)), had an income of 521.1 million euros between January and September, 17.4% higher than a year ago, and a gross operating profit (ebitda) of 252.9 million, a 15.3% % plus.

Euskaltel has raised the income of the residential business (17.2% up to 348.6 million), as of the business enterprise (17.8%) and wholesaler (17.2%), while direct costs rose 30.2% to 137.6 million.

The company has agreed to distribution of a dividend on account of the results of the financial year 2018, for an amount of 0,140 euros gross per share payable in February 2019, which is 10% more than the amount agreed with the 2017 accounts. The Euskaltel Group has announced that the Total dividend to be distributed in 2019 will grow two digits with respect to the previous year.

Buy offer

Euskatel has presented its results just two weeks after the British investment fund Zegona announced an offer for 14.9% of the company's capital, which would make it the largest shareholder in the telecommunications group.

Operating cash flow has risen to 148.8 million, with an income margin of 28.5% that will amount to 32.4% without considering the expansion and integration plans of the group.

The expansion plan initiated this year by the Euskaltel Group has evolved satisfactorily given that the operator already exceeds 2,000 customers in Navarra, where it expects to continue with the opening of new sales points to exceed 4,000 new customers by the end of the year. In total, the group has foreseen win 90,000 new customers by 2022 in the development of its expansion plan outside of its natural markets.

Euskaltel has announced that, as a result of the evolution of commercial results and new opportunities,Updated your business plans with what it foresees that the income generated in the new territories represent around 8% of the total income of the group in 2022.

The clients of Euskaltel, R and Telecable have surpassed the 2.363 million contracted products, which represents an increase of 39,000 new contracts during the current year. In mobile telephony 32,528 new lines have been added during this year, in television the growth has been 13,555 new customers and in broadband the number of contracted products has increased by 4,024.

The evolution in the contracting of services and products in the residential segment it has resulted in a penetration record of all the products based on customers, according to Euskaltel in its statement. The telecommunications group also highlighted the growth experienced in the company segment both in revenues and customers, which confirms the positive trend that began at the end of last year.

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