Romania's telco Digi doubles its profit in H1 as more customers added
<p>The Romanian telecommunications group Digi Communications (BVB: DIGI) announced its consolidated revenues increased 13% y/y to EUR 921 million, while its net profit doubled y/y to EUR 54.3 million in H1.</p>

<p>The company's market capitalization reached EUR 1.24 billion after the price of its shares rose by 77% y/y.</p>

<p>This puts the annualized profit realized in H1 at 8.8%. Out of last year's profit, the company paid a dividend consistent with a yield of 1.91%</p>

<p>In Q2, the company's turnover rose by 13.4% y/y to EUR 474.7 million, while its profit surged by 80% y/y to EUR 28.8 million. Adjusted EBITDA increased by 16.5% y/y to EUR 170.2 million.&nbsp;</p>

<p>"The first half of the year marked a significant moment, as we crossed the 25 million customer mark, driven by an impressive 23.2% year-on-year growth in the mobile telecommunications segment on the Spanish market and 50, 6% on the fixed internet segment," commented Digi Communications CEO Serghei Bulgac.</p>

<p>Digi's local subsidiaries in Portugal and Belgium are preparing to launch commercial services in these two markets in 2024.</p>

<p>The total number of revenue-generating units (RGUs) on the Romanian market reached 17.561 million customers at the end of Q2 2024, an increase of 8% compared to the same period in 2023.&nbsp;</p>

<p>Operations in Spain continued the positive evolution in Q2 2024, with the number of service users landlines, internet, and mobile telephony increasing by 30.1% compared to Q2 2023, up to 7.517mn RGU.&nbsp;</p>

<p>In Italy, the number of mobile users increased by 16.6% compared to Q2 2024, reaching 456,000 RGUs at the end of Q2 2024.</p>

<p><em>(Photo: the company)</em></p>

<p><em>iulian@romania-insider.com</em></p>