First quarter growth for United Group
APRIL 25, 2024 14.07 EUROPE/LONDON BY JULIAN CLOVER

United Group has reported strong growth in the first quarter of 2023 with growth in United Media’s advertising and media sales business, an expansion of the mobile post-paid subscriber base and demand for B2B IT solutions and equipment, particularly in Greece.

Consolidated group revenue for FY 2023 grew 7% year-on-year to €2,791 million, while consolidated group adjusted EBITDA increased 7% in FY 2023 to €988 million

“2023 was really a year of strategic integrations of our acquisitions in Greece, Bulgaria, and Croatia, with all the major initiatives, included cost synergies, completed by the year end. Additionally, our further investments in fiber and 5G technology, as well as pivotal spectrum acquisitions, contributed to our solidified position across all major markets”, said Victoriya Boklag, CEO of the United Group. “In a challenging environment, we continued to drive strong growth by consistently pursuing our strategy of providing superior products and services on modern and robust infrastructure.”

United is the leading multi-play telecoms and media company in Southeastern Europe with more than 5.30 million households taking its broadband and telecoms services.

Additionally, United Media reaches 8.2 million households through its TV channels, an in-house content production team creates content for its pay-TV channels, historically boosting pay-TV subscriptions. United Media currently produces close to 50% of the total content in its TV portfolio, including FTA (terrestrial) and pay-TV operations other than sports channels, and its main prime-time programs typically receive ratings of between 25% and 40% share in the main markets where its Media segment operates.