MásMóvil sees revenues, subscribers and earnings grow

Spanish service provider MásMovíl saw its service revenues grow by 19% last year to €2.647 billion, while its EBITDA grew by 26% to €1.199 billion.

The company ended the year with 15.3 million customers, up 5%. Of those, 9.3 million are post-paid mobile customers while 3.3 million are fixed broadband customers. MásMovíl owns the Euskaltel Group, the group of northern Spanish regional cable operators with networks in the Galicia, Asturias and Basque Country regions, and which also operates services nationally under the Virgin telco brand.

MásMovíl’s overall revenues reached €2.894 billion, up 17%.

MásMovíl said it added 800,000 new broadband and post-paid mobile lines across the year, thanks to organic growth from its various brands and a solid performance from the northern Spanish cable operations.

The 3.3 million fixed line customers represented growth of 7% year on year. , with 227,000 broadband custoemrs being added across the year. The final quarter of the year saw MásMovíl add 159,000 mobile post-paid and 51,000 fixed broadband customers.

MásMovíl reduced its debt burden from €6.73 billion to €6.282 billion over the year.

“We are very pleased with the results achieved in 2022, both on the commercial and financial sides, maintaining a solid level of growth despite the complicated market conditions,” said Meinrad Spenger, CEO.

“Further, we have reinforced our push in ESG, recently obtaining two new Sustainable Fitch and CDP ratings, which places us at the head of European telcos in the matter of care and protection of the environment, and in driving connectivity in rural areas.”