Zegona Communications (ZEG) Q1 2027 TU earnings summary

Financial performance highlights

• Achieved third consecutive quarter of top line growth, with total revenues up 2% year on year to €916m.

• EBITDA increased 5% to €465m, and EBITDAAL rose 3% to €324m, reflecting operational efficiency and customer investment.

• Operating cashflow reached €204m with margins exceeding 22%.

• Net debt reduced by 11% to €3.2b, and leverage ratio improved to 2.33x.

Operational and strategic developments

• Broadband lines grew by 22k year on year to 2,592k, and mobile lines increased by 345k to 12,864k.

• Multi-brand strategy and enhanced customer propositions contributed to growth.

• Successful refinancing of €3.7b in senior secured notes and facilities, extending debt maturity beyond five years.

• Annual interest cost reduced from €294m two years ago to €170m going forward, delivering estimated annual savings of €60m.

Corporate and reporting context

• Results reflect continued execution of strategy since the acquisition of Vodafone Spain in 2024.

• Financial information satisfies external debt reporting obligations under the Senior Facilities Agreement.

• Zegona is publicly listed on the LSE and focuses on improving performance in European TMT businesses.