September 20, 2020

MasMovil earns 57 million and revises upwards its forecasts for 2018 | Economy

MasMovil earns 57 million and revises upwards its forecasts for 2018 | Economy

The operator of telephony MásMóvil gained 56.7 million euros until September, compared to the losses of 148 million euros recorded in the same period last year. It is the second quarter with profits after its return to the green numbers in the accounts of the first half of the year. The so-called fourth operator (after Movistar, Vodafone and Orange) achieves this thanks to a 9% increase in revenues, to 1,038 million in the first nine months. The company already has 6.89 million customers (lines), 36% more than in the same period last year, 840,000 more than contract and half a million more prepaid.

The company that runs the Austrian Meinrad Spenger takes months getting clients from the big three, with its brands Yoigo, PepePhone, LlamaYa and MásMóvil. Thus, at the end of the first nine months, it has 5.41 million contract customers (between 4.55 million mobile contracts and 860,000 broadband contracts), 32.6% more than 12 months ago. In addition, it has another 1.49 million mobile customers with a prepaid card, half a million more than a year ago. Thus, in total, its mobile customers (contract or prepaid card) amount to 6.04 million, 28% more than in the first nine months of last year. The company points out that "the cross-selling of broadband products to the mobile customer base is evolving positively".

In the note sent to the CNMV, the company highlights precisely the increase in customers as the origin of improved profitability, with a recurring EBITDA of 244 million euros in the first nine months, 45% more, and with strong growth of the margin over ebitda, which goes from 18 to 23%. The debt also rises, which is now 502 million, 28% more, although it falls in relation to the EBITDA, at a ratio of 1.5 times. The investment in the period was 312 million, 179 of them in the development of the fixed network, a fiber network that already reaches 4.8 million homes, which will increase by one million more by the end of the year thanks to the agreement with Vodafone.

The operator has managed to exceed its objectives in these nine months and therefore, according to the relavane fact sent to the CNMV, it revises its forecasts for the end of the year. "Given the evolution of the business," the company says, it now foresees an "increase in the expectation of growth of Revenues from Services, going from an estimate of + 10% to a current target of + 17%". It also expects to obtain an operating result (ebitda) of 330 million euros, 30 more than the previous estimate. Likewise, closing the year with 1.25 million more lines than in the same period of the previous year, compared to the 800,000 previously forecast.


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