Digi Communications posts 8.1% revenue growth in 2020

24 Feb 2021

Romania-based Digi Communications has reported consolidated group revenue of EUR1.282 billion (USD1.558 billion) in its preliminary unaudited results for the financial year ended 31 December 2020, a rise of 8.1% on the previous year. Adjusted EBITDA (including the impact of IFRS 16) rose 1.5% year-on-year to EUR479.8 million in the period and operating profit increased 19.5% to EUR173.3 million, while operating expenses were up EUR67 million at EUR1.106 billion. The company reported net profit fell to EUR16.36 million, from EUR40.58 million twelve months earlier, but warned the figure is based on an ongoing revaluation of depreciation expenses and could differ significantly to the financial results published in its annual report. Full-year CAPEX stood at EUR371 million, compared with EUR318 million in 2019.

In operational terms, Digi Communications reported a total of 18.136 million RGUs across the group at 31 December 2020, up 12.4% y-o-y. This was driven by a 13.4% rise in mobile communication services RGUs to 6.438 million (5.677 million in 2019), 18.3 % growth in fixed internet customers to 4.266 million (3.606 million in 2019) and a 12.1% increase in pay-TV service RGUs to 5.666 million (2019: 5.056 million). The group’s fixed line telephony service subscriber base declined by 2% to 1.766 million (2019: 1.803 million). Romania continues to be the group’s core market, contributing 12.77 million RGUs, followed by Spain (2.610 million), Hungary (2.505 million) and Italy (251,000).