Romania's Digi 2023 profit jumps 21.4%

Consolidated revenue rose 13.2% on the year to 1.69 billion euro in 2023, Digi said in a preliminary annual financial statement filed with the Bucharest Stock Exchange, BVB, on Thursday.

Digi's adjusted earnings before interest, tax, depreciation, and amortisation (EBITDA) increased by an annual 17% to 592.7 million euro in 2023.

The group saw growth across its entire service portfolio, with revenue-generating user agreements (RGUs) increasing by 15% on the year to 23.9 million. The mobile division generated the most RGUs, accounting for 46% of the aggregate across Digi’s markets in Romania, Spain, and Italy. Romania generated 70.7% of the group’s RGUs, while Spain had the highest average revenue per RGU (ARPU), of 9.3 euro.

Founded by Romanian businessman Zoltan Teszari, RCS&RDS comprises two companies - Romanian Cable Systems (RCS) founded in 1994, and Romanian Data Systems (RDS) founded in 1998. Its parent company, Cable Communication Systems, now Digi Communications N.V., indirectly operates telecommunications groups in Spain and Italy through RCS&RDS.

Digi shares traded 0.83% higher at 48.6 lei ($10.58/9.78 euro) as at 0900 CET on Thursday on the Bucharest Stock Exchange.

($=0.9246 euro)