Telecommunications provider Digi Communications reported a 10% year-over-year revenue increase to €1.2 billion for the first half of the year, driven by strong subscriber growth and operational momentum across its core European markets. According to company financial disclosures, the group’s EBITDA surged 90% during the six-month period, reflecting heightened profitability in Romania and Spain. The results underscore a period of rapid expansion for the cross-border operator, which continues to balance heavy capital expenditures on fiber and mobile network infrastructure with accelerated customer acquisition.
The company’s operational footprint expanded as total Revenue Generating Units (RGUs) climbed 14% compared to the previous year, reaching 34 million. Growth was anchored by strong performances in both domestic and international segments, highlighted by the successful completion of an initial public offering for the group’s Spanish division in July. That offering valued the Spanish business at €1.7 billion and raised approximately €287 million, which the company utilized to reduce group debt.
Digi Communications Chief Executive Officer Serghei Bulgac noted that the broad-based momentum across the portfolio helped deliver the €1.2 billion in first-half revenue. “In the first half of 2026, the Digi Group achieved €1.2 billion in revenue, up 10% year-on-year,” Bulgac said, pointing to the 14% rise in total RGUs.
The company’s financial results for the second quarter included total revenue of €612 million, which incorporated €4 million in other income, bringing core second-quarter revenue to €608 million. Group EBITDA for the first half increased 90% relative to prior comparative periods, while second-quarter simple EBITDA reached €203 million. Adjusted EBITDA excluding operating leases stood at €169 million for the second quarter, representing a 23% increase year-on-year.
Spanish Expansion and Fiber Network Growth
Spain remained the primary growth engine for Digi Communications, delivering substantial gains in both mobile and fixed broadband subscriptions. According to company reports, RGU growth in Spain reached 23%, with fixed broadband customers expanding to 2.9 million by the end of the period. By June, Digi had established itself as the third-largest fixed broadband operator in the Spanish market.
Digi Spain CEO Marius Vărzaru stated that the company’s proprietary SMART fiber optic network now covers approximately half of the country’s addressable market. Vărzaru added that average deployment costs have fallen to €50.8 per household, remaining well below historical outlays recorded by competitors. Management reaffirmed its long-term target of reaching 21 million homes passed with fiber infrastructure by 2030.
The July IPO of Digi Spain brought in roughly €287 million in proceeds. Company executives emphasized during analyst briefings that funds generated from the Spanish listing will be strictly allocated to operations and developments within the Spanish market rather than cross-subsidizing expansions elsewhere.
Domestic Leadership in Romania and New Market Investments
Romania continued to serve as the group’s largest and most reliable revenue generator. Recent regulatory data cited by management confirmed that Digi has captured the top position in the Romanian mobile market by total SIM card subscriptions, marking a major milestone since the company launched its mobile services in 2007. To mitigate currency fluctuations, management noted that the majority of Romanian tariff plans have been transitioned to Euro-denominated structures.
Meanwhile, newer international operations in Portugal and Belgium progressed at varying speeds. In Portugal, the company reported gradual improvements and narrowing losses, with executives signaling that more meaningful operational strides are expected by 2027. Operations in Belgium remained in an early development phase, with leadership advising analysts that the market requires an extended rollout timeline and steady, measured growth rather than immediate spikes in volume.
Operations in the United Kingdom remain small and exploratory, with capital expenditure restricted to roughly 5% or less of total group spending. Executives reiterated that pursuing Mobile Network Operator status in the UK is not currently practical, with the company opting instead for a cautious approach utilizing MVNO arrangements and fiber alternatives.
Capital Expenditures and Financial Guidance
Capital investments remained substantial as Digi continued to scale its network footprint across Western and Eastern Europe. Total capital expenditures (CapEx) for the first half of the year reached €347 million, marking an approximate 10% decrease compared to the first half of 2025. For the full year, management reaffirmed its group CapEx target of roughly €720 million to €750 million, signaling an intention to track toward the lower end of that guidance range.
The company also reaffirmed its full-year guidance calling for group EBITDA growth between 12% and 20%. Market response to the earnings release was muted; shares traded down 1.03% to close at $67 compared to the previous close of $67.4. Financial analysts continue to weigh the operator’s rapid subscriber and revenue expansion against its heavy capital expenditure requirements and execution risks in nascent Western European markets.