October 1, 2019 / 7:19 AM / 13 days ago

Masmovil signs 5G agreement with Orange Espagne, hikes EBITDA guidance

FILE PHOTO: A balloon with the logo of Masmovil is seen during its bourse debut in Madrid, Spain, July 14, 2017. REUTERS/Juan Medina/File Photo

(Reuters) - Spanish telecommunications company Masmovil said on Tuesday it signed a 5G agreement with Orange Espagne, helping the company hike its EBITDA guidance for three years.

The company said that the deal will cover all future 5G needs of the Orange Espagne, and significantly increase the cost efficient FTTH network footprint, and generate 40 million euro ($43.54 million) in opex runrate savings.

Continued commercial momentum of Masmovil, combined with the new agreements, will lead to increased EBITDA and operating FCF guidance.

Spain’s fourth-largest telecommunications operator increased its EBITDA guidance to 465 million euros ($506.15 million) for 2019, 570–600 million euros for 2020 and 670–700 million euros for 2021.

Reporting by Anita Kobylinska; editing by Uttaresh.V

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