MASMOVIL publishes results for FY 2015

13 Apr 2016

Spain’s MASMOVIL has published its financial results for the year ended 31 December 2015, with the company saying it had achieved its revenue target, while exceeding EBITDA and EBITDA margin objectives.

In the year under review, MASMOVIL generated a total turnover of EUR130.25 million (USD144.5 million), representing a 69% increase against the previous fiscal year, with growth in both its residential and enterprise divisions. Residential revenues accounted for 21% of the company’s total turnover in FY 2015, with revenues from its enterprise and wholesale units representing 34% and 45%, respectively. Pro forma total turnover in 2015 meanwhile totalled EUR141 million; this figure included the consolidation of business-focused mobile broadband provider Neo from 1 January 2015 and the aggregation of the Group’s different businesses, while excluding the contribution from Youmobile after MASMOVIL opted not to move forward with purchasing the reseller.

EBITDA in 2015 totalled EUR10.656 million, almost triple the EUR3.764 million recorded in FY 2014, with the company’s EBITDA margin standing at 8.2% in the latest reporting period, up from 4.8% a year earlier. MASMOVIL posted a net loss of EUR1.507 million in 2015, however, compared to a net profit of EUR194,000 in the previous twelve-month period, with it attributing this to ‘the increase in amortisation costs (with no impact on cash), related principally with greater amortisations of assets deriving from the accounting of the acquisitions made in the years 2015 and 2014 (EUR5 million approximately)’.

In operational terms, MASMOVIL reported that the number of active residential mobile subscriber lines on its books at end-2015 was 458,000, a figure representing a 29% year-on-year increase.

Spain, Grupo MASMOVIL (incl. Yoigo)