In the same way that the Euskaltel Group and Vodafone Spain published last week your financial results corresponding to the second quarter of 2020 (first quarter of the fiscal year), today it was the turn of the MásMóvil Group.
The figures presented by the company, which in this case reflect what happened in the first half of the year, demonstrate that, in this period marked by the pandemic and the takeover bid received by KKR, Cinven and Providence, the MásMóvil Group has not only managed to maintain its growth in attracting fixed and mobile broadband customers, but has also increased its revenues .
More income and more profitability
Despite the health crisis caused by Covid-19, during the first half of the year, the MásMóvil Group has continued to increase its profitability and has obtained an EBITDA of 277 million euros, representing an increase of 28%. In fact, the EBITDA margin in these six months has increased from 27 to 31% when compared to the same period in 2019, and in the second quarter, it has reached 32% compared to 27% in the same period last year.
Service revenue increased in the first semester by 19% compared to the same period last year, up to 817 million euros. In the second quarter, these revenues reached 416 million euros, representing an interannual increase of 18%.
In terms of total income, they were 898 million euros during the first half and 453 million euros during the second quarter, or what is the same, 13% and 10% more if we compare them with the same period last year.
With all this, the company has obtained in the first half of the year an adjusted net profit of 73 million euros, 36% more than last year. However, the ‘Other income’ section has once again been reduced, among other reasons, by the drop in equipment sales as a result of factors such as store closings.
In any case, with these favorable results, the MásMóvil Group has confirmed its goals for this year and next, with an adjusted EBITDA of 570-600 million euros for 2020 and 670-700 million for 2021.
The number of clients is also growing
If we look at the commercial results, we observe that the MásMóvil Group closed the first half of the year with
634,000 net registrations added together in the period between mobile postpaid and fixed broadband. In the period from April 1 to June 30, despite the restrictions imposed by the pandemic, the Group reached 261,000 registrations in these segments (153,000 mobile postpaid customers and 108,000 fixed broadband).
With this, as of June 30, the company had 10.7 million lines, 29% more than last year. Of all these, more than 8.9 million are mobile (6 million belong to the postpaid segment, 17% more than last year) and more than 1.7 million are fixed broadband (91% fiber optic ), 39% more than the previous year.
In this sense, it is worth highlighting the 59% increase in prepaid mobile lines in the second quarter, reaching 2.9 million lines once the customers contributed by the acquisition of Lyca Spain were consolidated, amounting to 1.5 million.
In addition, the MásMóvil Group boasts of continuing to invest in the development of its own networks, so that, at the end of the first half of 2020, it had invested a total of 185 million euros, of which 43 million have been allocated to the network fiber.
At the end of the first semester, the Group had 25.2 million homes marketable with its fiber offer, 27% more than in the same period last year. Of all of them, 13.8 million (82% more) correspond to its own fiber network or use rights, while the rest (12.4 million) are accessible thanks to the agreements it maintains with other operators.