Euskaltel
Group
Q3
2020
results
October 27th, 2020
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2
Q3 2020 results
| Euskaltel delivers another quarter of record customer growth
Operating
KPIs
(Q3 20
vs
Q2 20)
Financials
+29.4k
+20.9k
+1.5m
+1.8%
-2.0%
+1.1%
-3.6%
Virgin telco customers net adds
Virgin telco fixed customers net adds
Addressable households
Revenue
(YoY growth)
EBITDA
(YoY growth)
EBITDA ex Virgin
(YoY growth)
Net debt
(YoY growth)
Strong Virgin telco growth ahead of expectations in Q3
National coverage increase supports Virgin telco's commercial success
Virgin telco success drives strong revenue growth in the quarter
Traditional business EBITDA maintains growth in the quarter
The company continues on a clear deleveraging path
3
Q3 2020 results
| Strong Virgin telco growth nearly reaches full-year customer base target
2020e Business | |||||||
Virgin telco - customers EOP (000s) | 39 | Plan target | |||||
~35k | |||||||
27 | 11 | ||||||
19 | 8 | ||||||
6 | 27 | ||||||
9 | |||||||
19 | |||||||
0,8 | 3 | 14 | |||||
0,3 | 7 | ||||||
0,5 | |||||||
May1 | June | July | August | September | |||
Fixed services subs | Mobile only subs | ||||||
1. Virgin telco launched on 20th May 2020 | 4 | |
Q3 2020 results |
| Euskaltel has signed a go-to-marketagreement with Netflix
Netflix Fan combines top- quality content with extra mobile data
Euskaltel's high-quality TV combines with top content providers to create Virgin telco's leading TV proposition
Innovative go-to-market agreements will further drive Virgin telco's growth
5
Q3 2020 results
| Recent network agreements provide significant upsides to the business plan
Business plan upsides
- Access to 5G technology as an MVNO
- From January 2022 or earlier in the case of an Orange massive launch
- Access to 1.8m homes of the additional fiber deployment of Orange Spain
- Deployment to be completed before the end of 2023
5G
access
1.8m
FTTH homes
5G access
Improved economics
▪ | Access to Adamo's 1m homes national FTTH footprint | 1.5m |
▪ | Extendible to 500k additional homes by year end | |
FTTH homes |
▪ Access to NEBA FTTH in areas exempt from regulation
Recently signed agreements result in
increased Virgin telco's growth and profitability potential
Improved economics
Increased footprint
Increased footprint
6
Q3 2020 results
Operating review
7
Q3 2020 results
| Continued coverage increase drive further growth opportunities
Current footprint (000s households) | ||||||
Accessible homes_wholesale 2 | +1.5m | |||||
Homes passed_owned (HFC & FTTH) 1 | 18,709 | 20,258 | ||||
13,533 | ||||||
16,217 | 17,756 | |||||
5,360 | 5,780 | 11,050 | ||||
2,999 | 3,311 | |||||
2,361 | 2,469 | 2,483 | 2,492 | 2,502 | ||
Q3 19 | Q4 19 | Q1 20 | Q2 20 | Q3 20 |
- HFC, infill FTTH plus FTTH co-investment household coverage
- Orange bitstream wholesale plus Telefónica's VULA & NEBA coverage
Increased coverage drives Virgin telco's additional growth potential
New wholesale agreements signed allow for faster growth and increased profitability
8
Q3 2020 results
| Virgin telco drives another customer growth record in the quarter
Mass market subscribers (000s) | Mass market fixed subscribers (000s) | ||||
mass market fixed services subs | mass market mobile only subs | ||||
+13k | +20k | +14k | 695 | |||
802 | ||||||
782 | 681 | |||||
771 | 771 | 769 | ||||
104 | 102 | 99 | 101 | 106 | ||
667 | 669 | 670 | 681 | 695 | ||
Q3 19 | Q4 19 | Q1 20 | Q2 20 | Q3 20 | Q2 20 | Q3 20 |
Strong Virgin telco sales ramp-up is
transforming the company's growth profile
9
Q3 2020 results
| Record customer growth drives strong service take-up
Mass market services (RGUs) per type (000s)
Services /sub
Fixed Voice | Broadband | TV1 | Post-paid mobile | +26k | ||||||||
2,834 | 2,848 | 2,849 | 2,889 | 2,916 | ||||||||
1,155 | 1,163 | 1,164 | 1,184 | 1,205 | +21k QoQ | |||||||
480 | 485 | 489 | 497 1 | 497 | 0k QoQ | |||||||
589 | 593 | 596 | 607 | 626 | +19k QoQ | |||||||
610 | 607 | 600 | 601 | 588 | -13k QoQ | |||||||
Q3 19 | Q4 19 | Q1 20 | Q2 20 | Q3 20 | ||||||||
3.67 | 3.69 | 3.71 | 3.69 | 3.64 |
1. TV services figures increase by the not previously accounted second TV services | 10 |
Q3 2020 results
| SME and large accounts continue its strong performance in the quarter
SME and large account subscribers
15,904 15,993 16,044
15,708 15,763
Q3 19 | Q4 19 | Q1 20 | Q2 20 | Q3 20 |
Increased service demand drives a strong B2B quarter
Customer base grows in the quarter despite COVID and seasonality
+3% yoy B2B revenue growth result in highest ever third quarter B2B revenue
11
Q3 2020 results
Financial review
12
Q3 2020 results
| Virgin telco drives the quarter's revenue growth take-off
Total revenue breakdown by segment(EURm)Total revenue evolution YoY (%)
Mass market | B2B | Wholesale and Other | +1.8% | |||||
171.1 | 171.6 | 171.8 | 171.6 | 174.2 | ||||
2.9 | ||||||||
8.3 | 8.8 | 8.5 | 0.2 | 8.1 | ||||
8.0 | ||||||||
26.5 | 27.1 | 29.7 | 28.2 | 27.3 | +0.7% | |||
+0.3% | ||||||||
+0.1% | ||||||||
136.4 | 135.7 | 133.6 | 135.2 | 135.9 | ||||
(0.4%) |
Q3 19 | Q4 19 | Q1 20 | Q2 20 | Q3 20 | Q3 19 | Q4 19 | Q1 20 | Q2 20 | Q3 20 |
13
Q3 2020 results
| Strong cost control offsets Virgin telco's growth costs
Gross margin (% over revenue)
Selling, general and administrative expenses (EURm)
74.0% | 77.1%1 | 74.2% | |
72.7% | 71.6% |
Q3 19 | Q4 19 | Q1 20 | Q2 20 | Q3 20 |
-0.4%(-10.4% ex Virgin) | ||||
39.9 | 40.1 | 37.2 | 39.8 | 39.7 |
3.6 | 3.2 | 2.2 | 0.2 | |
3.4 | ||||
9.4 | 9.6 | 10.1 | ||
9.0 | ||||
9.7 | ||||
10.7 | 10.8 | 10.2 | 9.9 | |
10.0 | ||||
13.0 | 12.2 | 10.9 | 12.6 3 | |
11.2 | ||||
3.6 | 4.4 | 3.0 | 6.9 | 7.0 2 |
Q3 19 | Q4 19 | Q1 20 | Q2 20 | Q3 20 |
Other indirect costs
Network and IT systems
Personnel
Customer care and sales
Marketing and SAC
- Gross margin includes €6.9 million of positive impacts mainly from the renewal of the Orange wholesale agreement
- Includes €2.8m of the Virgin telco marketing
3. Includes €0.6m of the Virgin telco customer care costs | 14 |
Q3 2020 results
| Traditional business EBITDA continues to grow in the quarter
EBITDA1 (EURm) | Total EBITDA evolution3 YoY (%) |
% over revenue
53.8% | 51.0% |
48.8% | |
91.8 |
50.7% | 51.1% | 87.7 | |
-4.3 | |||
-2.6 |
+7.7% +8.1%
+3.7%
92.2 | 2 | +1,1% ex Virgin | |||
86.8 | 87.7 | 87.5 | 85.0 | ||
+0.1% | |||||
(2.0%) |
Q3 19 | Q4 19 | Q1 20 | Q2 20 | Q3 20 |
- EBITDA definition as per 'alternative performance measures': EBIT + depreciation and amortization +/- impairment + other non recurrent results
- Q4 19 EBITDA includes €6.9 million of positive impacts mainly from the renewal of the Orange wholesale agreement
Q3 19 | Q4 19 | Q1 20 | Q2 20 | Q3 20 |
3. EBITDA evolution excluding the impact of IFRS 16 (€10.1m in the year) in 2019 from reported EBITDA
15
Q3 2020 results
|Virgin telco's faster than expected growth drives Capex in the quarter
Capex (EURm and as % of revenue) | OpCF (EBITDA - capex) (EURm) | |||||
SAC1 | % over revenue | |||||
Capex ex - SAC | 29.6% | |||||
44.4 | 47.7 | ||
36.9 | 38.6 | 36.6 | 9.62 |
13% | 3.1 | ||
11% | 11% | 9% | 13% |
29.1% | 58.3 | 21.5% | |
27.9% | 28.6% | ||
-7.4 | 49.7 | ||
-12.3 |
49.8 47.8 49.1 50.9
37.4
10% 13% 12% 10% 10%
Q3 19 | Q4 19 | Q1 20 | Q2 20 | Q3 20 | Q3 19 | Q4 19 | Q1 20 | Q2 20 | Q3 20 |
- SAC capex includes commercial costs, customer installation and customer equipment
- Out of which €7.9m SAC and €2.0m non-SAC Capex
16
Q3 2020 results
| The company continues on a clear deleverage path despite strong growth
9M 20 cash allocation (EURm) | 9M 20 net debt (EURm) | |
% over revenue
50.3%
260.3 | (122.9) | ||||||
26.5% | |||||||
137.3 | (33.3) | ||||||
(10.3) | (12.9) | (7.4) | 14.2% | (55.3) | 1 | ||
73.5 | |||||||
18.2 |
1. 9M 20 dividend represents 100% of dividend payout for the year
Net debt/ | ▪ Cost of debt: 2.62% |
2 | ▪ Average maturity: 3.9 years3 |
EBITDA |
4.21x | -€18m | |
1,486 | 4.16x | |
1,468 |
Net debt as of Dec 31, 2019 Net debt as of September 30, 2020
- EBITDA adjusted by identified potential synergies
- €215m amortising TLA replaced in July 2020 with bullet loan due in December 2023
17
Q3 2020 results
| Q3 2020 results in-line to reach full-year guidance
Fixed customers (000s) | 700 - 730 | ||
5 | |||
Minimum | |||
required in Q4 | |||
20 to reach full- | |||
695 | year guidance | ||
695 |
681
670
3M 20 6M 20 9M 20 Q4 20 FY2020e
EBITDA (EURm)
340 - 350
80 | ||||||
Minimum | ||||||
required in | Q4 | |||||
260 | 20 to reach | full- | ||||
175 | 260 | |||||
88 | year guidance | |||||
3M 20 | 6M 20 | 9M 20 | Q4 20 | FY2020e |
Revenue (EURm)
700 - 710 | |||||||||
182 | |||||||||
Minimum | |||||||||
required in Q4 | |||||||||
518 | 20 to reach full- | ||||||||
518 | |||||||||
172 | 343 | year guidance | |||||||
3M 20 | 6M 20 | 9M 20 | Q4 20 | FY2020e | |||||
OpCF (EURm) | 170 - 180 | ||||||||
33 | |||||||||
Minimum | |||||||||
required in Q4 | |||||||||
137 | 20 to reach full- | ||||||||
137 | |||||||||
100 | year guidance | ||||||||
49 | |||||||||
3M 20 | 6M 20 | 9M 20 | Q4 20 | FY2020e | 18 | ||||
Q3 2020 results
| Strong Q3 2020 results driven by the initial success of Virgin telco
Continued Virgin telco success delivers another customer growth record
Sales and network initiatives assure improved future growth and proftability
Virgin telco's success drives revenue growth take-off in the quarter
Traditional business drives sustained EBITDA performance in the quarter
Clear deleverage path continues despite strong growth
Strong quarter results in-line to deliver full-yeartargets
19
Q2 2020 results
EUSKALTEL, S.A.
Investor Relations Office Tel: +34 94 401 15 56 investor@euskaltel.com www.euskaltel.com
Q&A
Appendix
Euskaltel Group Q3 2020 consolidated results and KPIs
21
Q3 2020 results
| Euskaltel Group consolidated - KPIs (i/iii)
Mass market | Annual | Quarterly | |||||||||
KPIs | Unit | 2019 | Q1 19 | Q2 19 | Q3 19 | Q4 19 | Q1 20 | Q2 20 | Q3 20 | ||
Homes passed_owned (HFC & FTTH) | # | 2,468,822 | 2,341,655 | 2,355,173 | 2,360,891 | 2,468,822 | 2,482,870 | 2,492,121 | 2,502,348 | ||
Accessible homes_wholesale | # | 3,310,812 | 569,092 | 598,061 | 2,999,183 | 3,310,812 | 11,050,114 | 16,216,808 | 17,756,150 | ||
Mass market subs 1 | # | 770,865 | 767,616 | 771,646 | 771,167 | 770,865 | 768,891 | 782,171 | 801,677 | ||
o/w fixed services subs | # | 669,317 | 661,558 | 666,138 | 667,022 | 669,317 | 669,678 | 681,002 | 695,402 | ||
o/w mobile only subs | # | 101,548 | 106,058 | 105,508 | 104,145 | 101,548 | 99,213 | 101,169 | 106,275 | ||
Total services (RGUs) 2 | # | 2,848,267 | 2,773,355 | 2,831,942 | 2,833,547 | 2,848,267 | 2,849,455 | 2,889,293 | 2,915,675 | ||
Fixed Voice | # | 606,809 | 610,105 | 612,549 | 609,981 | 606,809 | 599,972 | 600,982 | 588,139 | ||
Broadband | # | 593,338 | 579,523 | 586,080 | 589,090 | 593,338 | 596,292 | 607,483 | 626,290 | ||
TV | # | 484,957 | 456,119 | 481,896 | 479,639 | 484,957 | 489,090 | 496,740 | 496,572 | ||
Post-paid mobile | # | 1,163,163 | 1,127,608 | 1,151,417 | 1,154,837 | 1,163,163 | 1,164,101 | 1,184,088 | 1,204,674 | ||
Services (RGUs) per subscriber | # | 3.69 | 3.61 | 3.67 | 3.67 | 3.69 | 3.71 | 3.69 | 3.64 | ||
Global ARPU fixed customers (quarterly standalone) | €/month | 60.07 | 59.98 | 60.00 | 60.37 | 60.07 | 60.04 | 59.99 | 59.51 | ||
SMEs and Large Accounts | Annual | Quarterly | |||||||||
KPIs | Unit | 2019 | Q1 19 | Q2 19 | Q3 19 | Q4 19 | Q1 20 | Q2 20 | Q3 20 | ||
Customers | # | 15,763 | 15,460 | 15,633 | 15,708 | 15,763 | 15,904 | 15,993 | 16,044 |
- Mass market subs = residential subs + SOHO subs + RACC only mobile subs
- Mass market services = residential services + SOHO services + RACC only mobile services
Note: The change in 2019 subs and ARPU figures is due to a reclassification of 0.2k subs from mass market to SMEs and a recognizition of not previously reported 0.3k SME subs.
22
Q3 2020 results
| Euskaltel Group consolidated - Consolidated financials (ii/iii)
Profit and Loss Statement | Annual | Quarterly | |||||||||
Unit | 2019 | Q1 19 | Q2 19 | Q3 19 | Q4 19 | Q1 20 | Q2 20 | Q3 20 | |||
Total revenue | €m | 685.5 | 171.7 | 171.1 | 171.1 | 171.6 | 171.8 | 171.6 | 174.2 | ||
Y-o-y change | % | -0.9% | -2.8% | -0.9% | -0.4% | 0.7% | 0.1% | 0.3% | 1.8% | ||
o/w Mass market revenue 1 | |||||||||||
€m | 542.1 | 134.0 | 136.0 | 136.4 | 135.7 | 133.6 | 135.4 | 138.8 | |||
o/w B2B revenue | €m | 110.9 | 30.3 | 27.0 | 26.5 | 27.1 | 29.7 | 28.2 | 27.3 | ||
o/w Wholesale and Other revenue | €m | 32.5 | 7.4 | 8.0 | 8.3 | 8.8 | 8.5 | 8.0 | 8.1 | ||
Gross margin | €m | 510.0 | 123.6 | 127.4 | 126.6 | 132.3 | 124.9 | 127.3 | 124.7 | ||
% of total revenue | % | 74.4% | 72.0% | 74.5% | 74.0% | 77.1% | 72.7% | 74.2% | 71.6% | ||
Selling, General & Admin. Expenses (SG&A) | €m | (165.4) | (42.5) | (43.0) | (39.9) | (40.1) | (37.2) | (39.8) | (39.7) | ||
o/w marketing and SAC | €m | (18.7) | (5.2) | (5.5) | (3.6) | (4.4) | (3.0) | (6.9) | (7.0) | ||
o/w customer care and sales | €m | (52.5) | (14.2) | (13.1) | (13.0) | (12.2) | (11.2) | (10.9) | (12.6) | ||
o/w personnel | €m | (44.8) | (11.6) | (11.7) | (10.7) | (10.8) | (10.0) | (10.2) | (9.9) | ||
o/w network and IT systems | €m | (37.7) | (9.7) | (9.5) | (9.0) | (9.4) | (9.7) | (9.6) | (10.1) | ||
o/w other indirect costs | €m | (11.8) | (1.8) | (3.2) | (3.6) | (3.2) | (3.4) | (2.2) | (0.2) | ||
Adjusted EBITDA | €m | 344.5 | 81.1 | 84.4 | 86.8 | 92.2 | 87.7 | 87.5 | 85.0 | ||
% of total revenue | % | 50.3% | 47.3% | 49.4% | 50.7% | 53.8% | 51.1% | 51.0% | 48.8% | ||
Y-o-y change | % | 2.4% | -3.7% | -0.1% | 2.6% | 10.4% | 8.1% | 3.7% | -2.0% | ||
Depreciation and Amortization | €m | (202.7) | (50.2) | (51.0) | (51.1) | (50.4) | (49.9) | (50.4) | (49.3) | ||
Extraordinary items | €m | (21.0) | (2.9) | (7.6) | (5.2) | (5.3) | (2.2) | (2.1) | (3.1) | ||
Net financial expenses | €m | (49.3) | (12.6) | (12.1) | (12.4) | (12.1) | (11.9) | (14.8) | (12.4) | ||
Net profit before taxes | €m | 71.5 | 15.4 | 13.7 | 18.0 | 24.4 | 23.7 | 20.2 | 20.2 | ||
Taxes | €m | (9.5) | (3.4) | (2.8) | 1.0 | (4.3) | (4.6) | (3.8) | (3.6) | ||
NET PROFIT | €m | 62.0 | 11.9 | 11.0 | 19.0 | 20.1 | 19.1 | 16.4 | 16.6 | ||
1. Mass market revenue = residential revenue + SOHO revenue + RACC only mobile revenue | |
Note: 2019 revenue figures impacted by a reclassification due to reporting changes to more accurately reflect the integration of the 3 companies. Change in 2019 gross margin and | |
SG&A figures is due to an expenses reclassification due to reporting changes to more accurately reflect the integration of the 3 companies. | 23 |
Q3 2020 results
| Euskaltel Group consolidated - Consolidated financials (iii/iii)
Cash Flow Statement | Annual | Quarterly | |||||||||
Unit | 2019 | Q1 19 | Q2 19 | Q3 19 | Q4 19 | Q1 20 | Q2 20 | Q3 20 | |||
EBITDA | €m | 344.5 | 81.1 | 84.4 | 86.8 | 92.2 | 87.7 | 87.5 | 85.0 | ||
Capex | €m | (154.3) | (34.6) | (38.3) | (36.9) | (44.4) | (38.6) | (36.6) | (47.7) | ||
% of total revenue | % | -22.5% | -20.2% | -22.4% | -21.6% | -25.9% | -22.5% | -21.3% | -27.4% | ||
Operating Cash Flow | €m | 190.3 | 46.5 | 46.1 | 49.8 | 47.8 | 49.1 | 50.9 | 37.4 | ||
% of total revenue | % | 27.8% | 27.1% | 27.0% | 29.1% | 27.9% | 28.6% | 29.6% | 21.5% | ||
Interests | €m | (42.1) | (12.3) | (9.3) | (11.4) | (9.1) | (11.2) | (10.9) | (11.2) | ||
Working Capital | €m | (7.4) | (32.0) | 15.2 | 1.1 | 8.4 | (7.3) | (6.2) | 3.2 | ||
Taxes | €m | (16.8) | (6.8) | (2.6) | (1.0) | (6.4) | (7.0) | (2.9) | (3.0) | ||
Others | €m | (23.0) | (5.9) | (7.7) | (5.3) | (4.2) | (2.1) | (3.2) | (2.2) | ||
Free Cash Flow | €m | 101.1 | (10.5) | 41.8 | 33.3 | 36.5 | 21.5 | 27.7 | 24.4 | ||
Dividends | €m | (55.3) | (25.0) | - | (30.3) | - | (23.1) | (1.9) | (30.3) | ||
Net debt variation | €m | 45.8 | (35.5) | 41.8 | 3.0 | 36.5 | (1.6) | 25.8 | (6.0) | ||
NET DEBT | €m | 1,486.3 | ||
Balance Sheet | Annual | |||
Unit | 2019 | |||
Non-current Assets | €m | 2,749.0 |
1,567.5 | 1,525.8 | 1,522.8 | 1,486.3 | 1,487.8 | 1,462.0 | 1,468.0 |
Quarterly | ||||||
Q1 19 | Q2 19 | Q3 19 | Q4 19 | Q1 20 | Q2 20 | Q3 20 |
2,779.1 | 2,765.1 | 2,754.5 | 2,749.0 | 2,738.0 | 2,725.3 | 2,726.4 |
Intangible assets | €m | 1,324.2 | 1,332.7 | 1,329.5 | 1,324.9 | 1,324.2 | 1,322.4 | 1,318.4 | 1,319.5 | |||
Tangible assets | €m | 1,288.8 | 1,312.2 | 1,302.7 | 1,292.9 | 1,288.8 | 1,280.5 | 1,272.9 | 1,273.0 | |||
Financial assets | €m | 8.9 | 9.1 | 9.0 | 8.4 | 8.9 | 8.0 | 6.9 | 6.0 | |||
Deferred tax assets | €m | 127.1 | 125.1 | 123.8 | 128.3 | 127.1 | 127.1 | 127.1 | 127.9 | |||
Current Assets | €m | 168.2 | 144.1 | 149.5 | 158.8 | 168.2 | 174.4 | 206.0 | 208.0 | |||
Inventories | €m | 4.2 | 5.7 | 6.4 | 6.1 | 4.2 | 5.7 | 4.8 | 6.6 | |||
Trade and other receivables | €m | 65.8 | 66.6 | 62.5 | 71.4 | 65.8 | 70.9 | 78.7 | 83.9 | |||
Cash and cash equivalents | €m | 98.2 | 71.8 | 80.6 | 81.3 | 98.2 | 97.9 | 122.5 | 117.5 | |||
TOTAL ASSETS | €m | 2,917.3 | 2,923.3 | 2,914.6 | 2,913.4 | 2,917.3 | 2,912.4 | 2,931.3 | 2,934.4 | |||
Total Shareholders' Equity | €m | 982.0 | 987.3 | 967.9 | 986.8 | 982.0 | 1,001.1 | 987.6 | 1,005.9 | |||
Non-current Liabilities | €m | 1,533.9 | 1,619.7 | 1,554.7 | 1,558.6 | 1,533.9 | 1,532.8 | 1,577.6 | 1,575.4 | |||
Long term debt | €m | 1,369.0 | 1,444.9 | 1,388.5 | 1,390.1 | 1,369.0 | 1,370.3 | 1,416.3 | 1,416.8 | |||
Provisions | €m | - | - | - | - | - | - | - | - | |||
Other non-current liabilities | €m | 164.9 | 174.8 | 166.2 | 168.5 | 164.9 | 162.5 | 161.3 | 158.6 | |||
Current Liabilities | €m | 401.4 | 316.3 | 392.0 | 367.9 | 401.4 | 378.5 | 366.1 | 353.1 | |||
Short term debt | €m | 195.3 | 154.4 | 185.5 | 192.1 | 195.3 | 194.7 | 149.4 | 150.1 | |||
Trade and other payables | €m | 206.1 | 161.9 | 206.5 | 175.8 | 206.1 | 183.8 | 216.8 | 203.0 | |||
Total Liabilities | €m | 1,935.3 | 1,936.0 | 1,946.7 | 1,926.5 | 1,935.3 | 1,911.3 | 1,943.7 | 1,928.4 | |||
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | €m | 2,917.3 | 2,923.3 | 2,914.6 | 2,913.4 | 2,917.3 | 2,912.4 | 2,931.3 | 2,934.4 | 24 | ||
Q3 2020 results
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Euskaltel SA published this content on 27 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 October 2020 17:14:06 UTC