MásMóvil shoots up its income from service by 42% until March with 670 million

The company incurs losses due to extraordinary expenses

MADRID, 31 May. (EUROPA PRESS) -

MásMóvil has shot up its service revenues by 42% in the first quarter of the year, to 670 million euros, driven by organic growth of 7% and adherence to its Euskaltel accounts despite hyper-competitive market conditions.

The company has invoiced between January and March 733 million euros, 39% more than in the same period of the previous year, with a gross operating profit (Ebitda) of 277 million euros, which represents an increase of 51%, as reported in a statement.

The company has also increased its margins by three percentage points, to stand at 38%. However, it has gone from a profit of ten million euros last year to a net loss of 40 million euros due to the impact of various extraordinary expenses in the first quarter.

The company's balance sheet has been affected by a deferred payment of 'capex' of almost 90 million euros, as well as various expenses associated with the strategy of M

The firm has highlighted that it expects the impact of these factors on cash flow to disappear in coming quarters.

The company has invested 124 million euros in the first quarter and its fiber optic footprint reaches 27.2 million marketable homes between its own footprint and wholesale agreements, while its 5G coverage reaches nearly 900 towns.

"We are very happy with the results obtained during the first quarter of the year, which makes us optimistic about reaching the objectives set for 2022", highlighted the CEO of MásMóvil, Meinrad Spenger.

Spenger highlighted the firm's "solid" growth rate, which ended the quarter with 14.7 million customers, 200,000 more in three months, despite the boom in "ultra-low-cost offers."

The company ended March with 11.6 million mobile lines, 8.9 million postpaid lines, after adding 163,000 new lines in this segment, and 3.1 million fixed broadband customers, reporting 70,000 registrations in three months, at the head of the national operators.

MásMóvil is immersed in a process of negotiations exclusively with Orange and the parties are expected to finalize the agreement between June and July.

Likewise, the company is finalizing an operation to find a partner for Euskaltel's fixed network, as well as its strategic plan for Portugal.