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Masorange (MASORANGE) investor relations material
Masorange Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Accelerated transformation from traditional telecom to technology company, expanding into new verticals such as energy, advertising, and security services, with successful commercialization of consumer electronics.
Achieved significant milestones in Q3, including the signing of the FiberCo (PremiumFiber) partnership with Vodafone and GIC, and a major energy sector alliance with Endesa.
Strong B2B momentum with innovative services and significant contract wins in both private and public sectors.
ESG leadership recognized by top-tier agencies, achieving best practice ratings in Europe and a Clarity AI score of 82/100, with tangible progress in digital inclusion, sustainability, and diversity.
Reported consolidated net loss of €186.0 million for the nine months ended 30 September 2025.
Financial highlights
Total revenues for 9M 2025 reached €5,664 million, up 3.7% year-over-year, with service revenues up 1.5% and equipment revenues up 18.1%.
Reported EBITDA grew 12.8% to €2,171 million, with a margin of 38.3%; adjusted EBITDA increased 8.3% to €2,195 million.
Operating Free Cash Flow rose 11.1% to €1,407 million, representing 64.1% conversion of adjusted EBITDA.
Recurring net CapEx was €788 million, 3.6% higher year-over-year, with CapEx intensity at 13.9% of revenues.
Net cash provided by operating activities was €1,261.3 million.
Net financial expenses were €712.6 million, leading to a consolidated net loss.
Outlook and guidance
2025 outlook reiterated: slight total revenue growth, run-rate synergies above €300 million, and double-digit growth in adjusted EBITDA minus recurring net CapEx.
On track to achieve above €300 million in synergies for full year 2025, with €259 million materialized in the first nine months.
Expecting significant increase in free cash flow in Q4 and optimization of net interest post-NetCo.
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