Gigas invoices 14.76 million until March, 58.3% more

The company falls somewhat short of its growth expectations

MADRID, 31 May. (EUROPA PRESS) -

Gigas has billed 14.76 million euros until March, 58.3% more than in the same period last year thanks to the acquisitions made last year, such as the Portuguese operator Oni.

The firm has presented an adjusted gross operating profit (adjusted Ebitda) of 3.05 million euros, which represents an increase of 43.8% compared to the previous year, according to the results communicated to BME Growth.

The telecommunications service has been the origin of practically two thirds of the billing, with just over 10 million euros, while cloud, IT and cybersecurity services have billed 4.5 million euros.

Despite the growth, the company has fallen 3% below its billing expectations and 2.2% in Ebitda, although the company has notified that it is reviewing the client portfolios acquired in 2021, which could translate into a lowering of the final price to pay for these.

In recent months, Gigas has launched services such as XG-SPON business fiber with up to 10 Gbps in Portugal, the launch of new business telecommunications services in Spain, such as FTTH services and dedicated circuits (fiber and wireless), mobile services or services for sending mass SMS, as well as the implementation of the Digital Kit.

The company is also developing other solutions whose commercial launch has been delayed a few months until the next third quarter.

Among these services under development are advanced back-up solutions, disaster and recovery systems, cloud switchboard solutions, flexible fiber connection services or private connectivity connections.

The company has invested 2.64 million euros in infrastructure development and maintenance, of which 1.37 million euros have been allocated to growth with the acquisition of equipment or investment in fiber optics in Portugal.

The company has maintained its stable debt with 30.04 million euros, excluding 2.5 million euros of convertible bonds subscribed by Inveready that the company hopes will be converted into shares, while it maintains 11 million in treasury and considers that it has a margin to leverage in future operations.