Adjusted EBITDA reached EUR163 million.
„Our key markets, Romania and Spain, have maintained strong performance and allowed us to reach a historical milestone of 25 million clients served, across all three markets of activity. This important growth from the first three months of the year was driven by our mobile segment in Spain, which grew by 23.6%, reaching 5 million customers. In parallel, Spain’s broadband segment experienced accelerated growth of 56.7%, now serving 1.5 million users. Romanian mobile users exceeded 6 million with an increase of 16.3% year on year. These figures indicate another year of anticipated growth, aligning with our expectations and capability to meet evolving consumer needs in a competitive landscape. We are committed to continue to deliver superior quality at affordable prices across vibrant European markets, including established regions and new markets in Belgium and Portugal, where we are gearing up for the service launch,” stated Serghei Bulac, CEO of Digi Communications.
In Q1 2024, Digi Communications continued its growth trajectory across all service portfolios, registering a 14.3% YoY increase, approaching 25 million RGUs across Romania, Spain, and Italy.
In Romania, the mobile service segment reached 6 million RGUs in Q1 2024, an evolution of 16.3% compared to Q1 2023. Fixed internet services registered an increase of 7.8% YoY in Q1 2024, up to 4.7 million RGUs, while the Pay-TV services (cable and satellite) segment increased by 3.8%.
In Spain, mobile users increased by 23.6% to 5 million RGUs, while broadband users increased by 56.7% to 1.5 million. In Italy, mobile users increased by 18.2% YoY, reaching 435K RGUs as of the end of Q1 2024.
„Looking ahead, Digi’s strategic initiatives in Portugal and Belgium are paving the way for future expansions. Digi’s local subsidiaries are preparing to launch commercial services in these two markets in 2024. In April 2024, Digi Spain announced the sale of its FTTH network across 12 provinces to Sota Investments Spain OpCo, S.L.U., managed by a consortium including Macquarie Capital, abrdn, and Arjun Infrastructure Partners. Valued at up to 750 million euros, this sale will enhance Digi Spain’s liquidity and enable further investment in network expansion. The transaction, reaching approximately 4.25 million homes with plans to expand to 6 million homes within three years, awaits FDI clearance and merger control approval,” reads the company’s report.
Digi has a RON5.92 billion bourse capitalization. Since the start of 2024, its shares have gained 35%.
(English version by Catalina Apostoiu)