Zegona Communications (LSE:ZEG), which acquired Vodafone Spain two years ago, said the business unit delivered a third consecutive quarter of top-line growth in the first quarter of its 2027 financial year.
Total revenue rose 2% year on year to €916m, EBITDA grew 5% to €465m and EBITDAaL (earnings before interest, tax, depreciation and amortisation, after lease costs) increased 3% to €324m.
Broadband lines reached 2.59m, up 22,000 year on year, while mobile lines climbed to 12.86m, an increase of 345,000.
Operating cashflow for the quarter came in at €204m, a margin of more than 22%.
Net debt fell 11% to €3.2bn and leverage dropped to 2.33 times EBITDA.
In June, Zegona completed a €3.7bn refinancing of its senior secured notes and facilities, cutting annual interest costs by approximately €60m and pushing out debt maturities beyond five years.
Annual interest costs have fallen from €294m two years ago to €230m in March, and are set to drop further to €170m going forward.
The refinancing closed on 14 July.
