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Digi Communications posts 19.1% revenue growth in 2Q22

12 Aug 2022

Romania-based Digi Communications has reported group revenue (excluding intersegment revenue and other income) of EUR370.4 million (USD382.1 million) for the three-month period ended 30 June 2022, an increase of 19.1% from EUR310.9 million in 2Q21. Revenue growth was driven by operations in Romania (up 11.4% to EUR245.4 million) and Spain (39.4% higher at EUR118.2 million), while the Italian business generated EUR6.9 million (up 16.2%). The group, which completed the sale of its Hungarian operations to 4iG in January for a total amount of EUR625 million, posted adjusted EBITDA of EUR120.5 million in the period under review, down from a restated figure of EUR128.5 for 2Q21, while total operating expenses increased 31.0% year-on-year to EUR341.3 million. Net profit in the three months stood at EUR3.6 million compared with EUR23.8 million for the corresponding period of the previous year.

In operational terms, the group reported a 15.3% rise in total RGUs to 19.389 million at 30 June 2022. Romania continues to be the group’s core market, contributing 66.4% of group revenues and 14.720 million RGUs in 2Q22 (a 9.6% rise from 13.425 RGUs twelve months earlier), followed by Spain (4.315 million RGUs, a 39.2% increase) and Italy (354,000, up 19.2%). The Romanian operation ended the quarter with 5.271 million pay TV subscriptions (an increase of 6.3% y-o-y), 3.965 million fixed broadband RGUs (up 11.9%) and 956,000 fixed voice subscriptions (down 4.2%), while its mobile subscription base grew by 15.8% to 4.528 million.

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