Digi Communications reports consolidated revenues of 447 million euros, an increase of 12 percent in the first quarter

Digi Communications, one of the European leaders in the field of telecommunications, listed on the Bucharest Stock Exchange, reports consolidated revenues in the first quarter of 2024 (including revenues and other gains) of 446.7 million euros, an increase of 12 percent compared to Q1 2023.

Adjusted EBITDA for Q1 2024 amounted to 163.1 million euros (+21.9 percent compared to the previous year), and adjusted EBITDA excluding the impact of IFRS 16 was 139.9 million euros (+23.4 percent) compared to the previous year). This performance is in line with management’s forecasts for 2024, supported by solid growth in strategic markets.

Serghei Bulgac, CEO of Digi Communications, said: “After a remarkable expansion in 2023, we are pleased to announce a robust first quarter of 2024. Our key markets, Romania and Spain, maintained their strong performances and have allowed us to reach a historic milestone of 25 million served customers, in all three markets in which we operate. This strong growth in the first three months of the year was driven by our mobile telecommunications segment in Spain which grew by 23.6 percent to reach 5 million customers. In parallel, the fixed internet segment in Spain saw accelerated growth of 56.7 percent, now serving 1.5 million users. Romanian mobile phone users exceeded 6 million, an increase of 16.3 percent compared to the previous year. These numbers indicate another year of anticipated growth that matches expectations and our ability to meet the evolving needs of consumers in a competitive environment. We are committed to continuing the tradition of providing superior quality at affordable prices in the dynamic European markets, including the consolidated regions and the new markets of Belgium and Portugal, where we are preparing to launch services.”

In Romania, the segment of mobile telephony services reached 6 million RGUs in Q1 2024, an evolution of 16.3 percent compared to Q1 2023. Fixed Internet services registered a growth of 7.8 percent in Q1 2024 compared to last year, up to 4.7 million RGU, while the pay TV segment (cable and satellite) saw a 3.8 percent increase compared to Q1 2023, up to 5.7 million RGU. Together with fixed telephony services, the total number of RGUs in the Romanian market amounted to 17.3 million customers at the end of Q1 2024, an increase of 8.5 percent compared to the previous year.

Spain operations continued to experience significant growth in Q1 2024, with fixed, internet and mobile users growing 31.5 percent over Q1 2023 to 7 million RGUs. The number of mobile phone users increased by 23.6 percent to 5 million RGUs, while the number of fixed internet service users increased by 56.7 percent to 1.5 million.

In Italy, the number of mobile users increased by 18.2 percent compared to the previous year, reaching 435,000 RGUs at the end of Q1 2024.