Earnings Release • Nov 14, 2025
Earnings Release
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To: The Romanian Financial Supervisory Authority
Financial Instruments and Investments Sector
The Bucharest Stock Exchange
Regulated Spot Market, Category Int'l (Shares)
From DIGI COMMUNICATIONS N.V.
pursuant to Law no. 24/2017 on issuers of financial instruments and market operations and to the Romanian Financial Supervisory Authority Regulation no. 5/2018 on issuers and operations with securities, as subsequently amended and supplemented and the provisions of Article 99 of the Bucharest Stock Exchange Code, Title II, Issuers and Financial Instruments
Report date: 14 November 2025
Name of the issuing entity: DIGI COMMUNICATIONS N.V. (the "Company")
Statutory seat: Amsterdam, The Netherlands
Visiting address: Bucharest, 75 Dr. N. Staicovici, Forum 2000 Building,
Phase I, 4 th floor, 5th District, Romania
Phone/Fax number: +4031.400.65.05/ +4031.400.65.06
Registration number with The Netherlands Chamber of Commerce Business Register and Dutch Legal Entities and Partnerships
Identification Number (RSIN):
Registration number with The Netherlands Chamber of Commerce Business Register: 34132532/29.03.2000
RSIN: 808800322
Romanian Tax Registration Code: RO 37449310
Share Capital: EUR 6,810,042.52
Number of shares in issue: 100,000,000 (out of which (i) 64,556,028 class A shares
with a nominal value of ten eurocents (€ 0.10) each and (ii) 35,443,972 class B shares, with a nominal value of one
eurocent (€ 0.01) each)
Number of listed shares: 35,443,972 class B shares
Regulated market on which the issued
securities are traded:
Bucharest Stock Exchange, Main Segment, Category
Int'l (Shares)
Important events to be reported: Availability of Q3 2025 financial report
Digi Communications N.V. ("DIGI") informs the market that the Q3 2025 financial report is available starting 14 November 2025, on the Company's website: https://www.digicommunications.ro/en/investor-relations/shares/financial-results-shares/quarterly-reports-shares
Digi Communications N.V., one of the leading European telecommunications companies, listed on the Bucharest Stock Exchange, reports consolidated revenues (including revenues and other income) of EUR 561 million in the third quarter of 2025, a 14% increase compared to the same period of the previous year. Adjusted EBITDA for Q3 2025 increased by 6% compared to the result from Q3 2024, reaching EUR 188 million.
This performance is sustained by solid growth in strategic markets and aligns with the management's expectations for the nine months of 2025. Consequently, as of 30 September 2025, the Group recorded consolidated revenues and other income of EUR 1,643 million, a 16% increase versus 9M 2024, adjusted EBITDA of EUR 527 million (+3% vs 9M 2024).
Serghei Bulgac, CEO of Digi Communications, stated: "The third quarter of 2025 continued to deliver strong RGU growth, driven by the sustained demand for Digi's services across all markets. We have now surpassed well over 30 million RGUs at Group level, including more than 15 million mobile RGUs. The double-digit expansion in Spain remains particularly impressive and confirms that our product and pricing strategy addresses a clear market need. Romania, Portugal and Italy also continue to contribute to our growth, underlining the scalability of our model, supported by our investments in infrastructure. We are pleased that this commercial performance has translated into clear support from investors. The share price evolution on the Bucharest Stock Exchange, together with the successful EUR 600 million bond issuance, reflects confidence in Digi's strategy and long-term potential. As we continue to expand our footprint and strengthen our infrastructure, this access to capital allows us to sustain further our growth."
In Q3 2025, Digi continued to grow across its entire service portfolio, reaching 30.8 million in revenuegenerating user agreements (RGUs) across Romania, Spain, Portugal and Italy. This marks a 4.4 million RGU's increase compared to Q3 2024 on an absolute basis, the highest growth so far.
The mobile segment stands out for generating the most RGUs within the Group's array of services, accounting for 49% of the overall clients across the four markets. Maintaining its momentum from past quarters, in Q3 2025, the mobile segment saw its RGUs climb to 15.1 million, a 22% increase, covering mobile telephony clients across Romania, Spain, Italy and Portugal.
In Romania, the mobile service segment reached 7.2 million RGUs as of the end of Q3 2025, a positive evolution of 13% compared to Q3 2024. Broadband services registered an increase of 6% in Q3 2025, compared to Q3 2024, up to 5 million RGUs, while the segment of Pay-TV services (cable and satellite) increased by 3% YoY up to 6 million RGUs. Together with fixed-line telephony, the total number of RGUs in the Romanian market amounted to 19 million customers as of Q3 2025, a 7% increase versus Q3 2024.
Spanish operations continued the strong performance in Q3 2025, with the number of users of fixed services, internet, and mobile telephony increasing by 29% compared to Q3 2024, to 10.3 million RGUs. Mobile users increased by 25% to 7 million RGUs, while broadband users increased by 34% to 2.4 million.
In Portugal, Digi Communications launched commercial operations a year ago, in November 2024, offering a full range of telecommunication services, including mobile, fiber optic broadband internet, television, and fixed telephony. As of the end of Q3 2025, Portugal operations encompassed 813k RGUs, of which 443k were mobile and 150k were broadband users.
In Italy, mobile users increased by 10% YoY, reaching 521k RGUs as of the end of Q3 2025.
Alongside this operational performance, the Group also strengthened its financial profile. On 29th October 2025, Digi Romania S.A. successfully closed the offering of EUR 600 million senior secured notes due 2031. The transaction was upsized from the initially announced EUR 500 million, following strong demand from international institutional investors. The proceeds were used to redeem in full the outstanding EUR 400 million senior secured notes due in 2028, partially prepay certain bank facilities and secured short-term debt, and support ongoing operations and investments. The EUR 400 million notes due in 2028 were fully redeemed on 30th October 2025. The new Notes are listed on the official list of Euronext Dublin and trade on its regulated market.
| Commercial indicators by market (RGU 000's) | Q3'25 | Q3'24 | Change (%) |
|---|---|---|---|
| Romania | 19,148 | 17,886 | 7.1% |
| Mobile services | 7,245 | 6,398 | 13.2% |
| Pay-TV | 5,992 | 5,825 | 2.9% |
| Broadband | 5,096 | 4,804 | 6.1% |
| Fixed telephony | 815 | 859 | -5.1% |
| Spain | 10,263 | 7,941 | 29.2% |
| Mobile services | 6,931 | 5,550 | 24.9% |
| Broadband | 2,431 | 1,809 | 34.4% |
| Fixed telephony | 768 | 582 | 32.0% |
| Pay-TV | 133 | - | 100.0% |
| Italy | 521 | 475 | 9.7% |
| Mobile services | 521 | 475 | 9.7% |
| Portugal | 813 | - | 100% |
| Mobile services | 443 | - | 100% |
| Broadband | 150 | - | 100% |
| Pay-TV | 128 | - | 100% |
| Fixed telephony | 92 | - | 100% |
| TOTAL | 30,745 | 26,302 | 16.9% |
The financial report of Digi Communications as of September 30th, 2025, is available here.
For additional information, please contact us at [email protected]
Serghei Bulgac,
Chief Executive Officer
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