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Virgin Telco, Euskaltel’s subsidiary for the whole Spanish market, has surpassed 50,000 customers some two months ahead of schedule following “strong growth” in October, adding 30,000 subscribers, 21,000 in fixed broadband and almost 9,000 in mobile broadband.
“We are very proud of this milestone”, said CEO of Euskaltel, José Miguel García. “We have managed to overcome our initial objective in less than six months (…) putting our customer at the centre of our business strategy.....
Growth from Spanish regional cable operator Euskaltel’s national launch under the Virgin telco brand has exceeded the company’s initial expectations, with 38,000 additions from this brand contributing to an overall net growth in the operator’s customer base of 20,000 for the quarter to September.
Digital TV Europe report 28/10/20
The new operation added 21,000 fixed line customers, taking its total to 27,000. Mobile additions amounted to 9,000. The operator had previously set a target of 35,000 fixed customers by the end of the year.
Virgin telco also helped boost the company’s top line, with revenues for the quarter up 1.8% to €174.2 million.
This is the fourth consecutive quarter of revenue growth compared to the prior year and the company’s biggest growth in revenue in recent years.
Virgin telco’s revenue has grown to €3 million in the quarter, in line with its strong customer base growth which is expected to continue this upward trend over the coming months. Furthermore, revenue from the company’s traditional business has also seen positive growth of 0.1% due to stable customer revenues and excellent performance in the business services segment.
In the first nine months of 2020, EBITDA has risen 3.2% compared to the same period last year, up to €260.2 million at 30 September, with a 50.3% revenue margin that is 119 basis points higher than in September 2019.
Euskaltel now has 802,000 customers overall. Broken down by segment, mobile revenue-generating units increased the most, with 21,000 additions, followed by broadband with 19,000. The company now has 695,000 fixed and 106,000 mobile customers.
Euskaltel said that while Virgin telco had exceeded expectations, the overall growth it achieved was muted by the impact of COVID-19.
Afternoon Teddy, Yes excellent update and surely more to come here. Euskatel seems to be doing the right thing and consolidation in the sector is likely. A decent yield too while we wait for things to unfold.
Fair bit of red in market today.
No reaction to today's RNS -
https://www.investegate.co.uk/zegona-comm-plc--zeg-/rns/euskaltel-reports-record-customer---revenue-growth/202010280700044022D/
The market is missing a sleeper. When will others wake up and spot it?
Euskaltel inks Orange 5G deal
OCTOBER 16, 2020 12.16 EUROPE/LONDON BY CHRIS DZIADUL
The Spanish cable operator Euskaltel has signed an agreement with Orange that will allow it offer 5G services to its customers on Orange’s network as a MVNO from January 1, 2022.
The parties may negotiate to bring this date forward to when Orange launches its 5G service on a commercial basis and mass scale.
Euskaltel notes that the arrangement is a new step forward in the agreements signed with Orange announced on December 13, 2019, when Euskaltel reported that it had renewed its wholesale agreements with the company, both for fixed and mobile networks.
It also says that the new agreement will remain in force for as long as the current Mobile Virtual Network Operator service agreements with Orange are in place (June 2024).
Commenting on the development, CEO of Euskaltel GroupJosé Miguel García said: “this is a very important agreement for the Euskaltel Group, as it enables us to guarantee access to the most advanced 5G technology networks in order to offer our customers top quality products and services. This agreement makes it possible to offer the best service to all existing customers and also to new customers coming on board through our national expansion strategy”.