The Spanish cable operator Euskaltel recorded a sixth consecutive quarter of growth in fixed line customers in the first three months of this year.
It amounted to 400 new users and 3,000 broadband net additions, driven mainly by the expansion that has taken place outside the group’s three traditional regions.
Euskaltel also saw a second consecutive quarter of revenue growth of 0.1% in Q1 compared to the same period in 2019. Operating efficiencies also delivered savings that contributed to EBITDA of €88 million, which was an 8.1% up on the same period in 2019.
Euskaltel has in addition reported that the impact of the Covid-19 pandemic was limited and controlled in Q1. The financial position of the business remains strong with continued operating cash flow generation. At the end of the Q1 the company had €98 million of cash, which was increased by €150 million in April due to the full drawdown of its revolving credit facility.
Furthermore, Euskaltel has reconfirmed its guidance for 2020 and indicated that the national expansion plan is ready for full commercial launch.
