Digi is growing uncontrollably, even suffering millions in losses in 2023

Many things are demonstrated using Digi, and it is surprising that in such a short time its name has become one of the mentions in Spanish telecommunications market. But according to the accounts they posted in the Commercial Register, which CincoDías had access to, it is clear that they ended last year with large losses.

High turnover and losses

The year 2023 was full of contrasts, as evidenced by data from the Commercial Register. Because it is true that the company suffered losses that They significantly exceeded the 2022 figures.but it is also true that their turnover amounted to 644 million euros. We would like to remind you that this very high figure represents almost 30% higher turnover than in 2022. In parallel, the net loss data was also higher. From €6.4 million lost in 2022, this has risen to €14.3 million.

But, as we already noted, this did not stop Digi from continuing to remain at the same level. one of the operators that attracts the most attention and that there has been a lot of evolution going on lately. This year 2024 they are also doing very well and are even benefiting from the corporate moves that their main competitors have made. Additionally, Digi is focusing on the fact that it has important aspects that differentiate it from its competitors other than the adjusted prices of its plans.

One of these features is the customer service they offer, which they emphasize and take into account. own customer service centers and not as an outsourced service. They note that, of the four major operators, they have a service that provides a more personalized service without dependence on external teams. And they emphasize that, without a doubt, this is one of the reasons for their success.

The operator continues to look to the future

Some data relevant to its performance in 2023 has already been published, but others remain to be clarified. This allows us to see how Digi is moving forward and how some of its costs are being cut. motivated directly by the growth process what passes. Its financial expenses rose from 10.6 million to 30.6 million in 2023, indicating that its investments exceeded 300 million euros, and the company’s debt increased from 176.7 to 268.7 million euros. All this leads to EBITDA of 132 million and an operating result set for 2023 at 11.1 million. According to the first data, it increased by 66% compared to 2022, and according to the second, from 1.98 million last year.

These investments, registered by Digi, are motivated by some of the most important transactions in recent years, such as Acquisition of Yoigo spectrum. This is why we mentioned that the operations carried out by their competitors ultimately benefited them, since as a result of the merger of MásMóvil and Orange they had to part with mobile spectrum superior to current standards. Thus, Digi saw its acquisition as a good opportunity to gain a strong foothold. At the moment, Digi has already paid MasOrange 10 million euros for the acquisition, which will allow it to position itself as an operator with its own 5G mobile network.

Thanks to these movements Digi continues to look to the future and establishes itself in the telecommunications market with increasing strength. The 2023 results, although losses will widen, may be critical to the company’s ambitious plans for the future. After all, we must not forget that they are still working on, among other things, the launch of their television service Digi TV.