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Masorange (MASORANGE) investor relations material
Masorange Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Total revenues increased by 1.3% year-over-year in H1 2026, reaching €3,763M, driven by B2B and new business growth.
Commercial momentum continued with 83,000 new high-value customers in Q2, including 70,000 postpaid mobile and 13,000 fixed broadband additions.
Over 215,000 new service customers added in Q2, spanning energy, insurance, alarms, financial, and health services.
Maintains market leadership in Spain with over 33M total lines (excluding M2M), including 26M mobile and 7.1M fixed broadband.
Financial highlights
H1 2026 total revenues: €3,763M (+1.3% YoY); June revenues: €648M (+2% YoY).
Wholesale revenues rose 13.2% to €312M; device sales up 14.3% to €642M.
Service revenues in H1: €2,793M; June service revenues stable YoY at €462M.
H1 EBITDAAL: €1,063M, slightly down due to non-recurring accounting impacts; June EBITDAAL up 2.2% YoY to €225M.
Adjusted EBITDAAL minus recurring net CAPEX (operating cash generation) exceeded €472M (+1.8% YoY); June figure up 25.5% YoY to €146M.
Outlook and guidance
Accelerated realization of over €430M in expected annual synergies.
Continued focus on innovation, digital transformation, and expansion of advanced services (AI, cybersecurity, cloud, analytics).
- Revenue up 1.2% to €1,869M in Q1 2026, with record 5G and ESG leadership.MASORANGE
Q1 2026 - Record 2025 revenue, EBITDA growth, and innovation cement market leadership and customer expansion.MASORANGE
Q4 2025 - Revenue up 3.7%, EBITDA up 12.8%, but net loss of €186M due to high financial expenses.MASORANGE
Q3 2025 - 4.7% revenue growth and double-digit EBITDA, but net loss due to high finance costs.MASORANGE
Q2 2025 - Revenue and EBITDA grew, €85M synergies realized, but net loss driven by high debt costs.MASORANGE
Q3 2024 - EBITDA and cash flow rose, but high expenses drove a €411.7M net loss on €1.78B revenue.MASORANGE
Q2 2024 - Revenue, EBITDA, and customer growth outpaced targets, with major FiberCo and 5G deals signed.MASORANGE
Q4 2024 - Q1 2025 revenue up 2.6% to €1.87B, EBITDA margin 38%, but net loss due to high finance costs.MASORANGE
Q1 2025
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