Romania-based telecommunications group Digi Communications announced its net profit doubled to EUR 54.3 million in H1 2024, on an annual basis. while consolidated revenues grew by 13% to EUR 921 million.
The group’s market capitalization is now EUR 1.24 billion after the price of its shares rose 77% over the last year.
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%
In Q2, the company’s turnover rose by 13.4% y-o-y to EUR 474.7 million, while its profit surged by 80% y-o-y to EUR 28.8 million. The Adjusted EBITDA increased by 16.5% y-o-y to EUR 170.2 million.
In Q2, the company’s turnover grew by 13.4% to EUR 474.7 million. Its profit surged by 80% to EUR 28.8 million while adjusted EBITDA increased by 16.5% to EUR 170.2 million.
“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,” Serghei Bulgac CEO at Digi Communications stated.
The company’s geographic coverage includes Romania, Hungary, Spain and Italy while the group’ s local subsidiaries in Portugal and Belgium are preparing to launch services in these two countries this year. Last month Digi said it had agreed to buy Portugal’s fourth-largest operator Nowo Communications from Spain’s MASMOVIL for 150 million euros.
