Earnings release
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MasOrange, S.L. and Subsidiaries Consolidated statement of financial position 31 March 2025 Assets Goodwill 8,320,616 Other intangible assets 7,771,701 Property, plant and equipment 6,135,479 Right-of-use assets 1,413,357 Cost of obtaining contracts with customers 249,443 Contract assets 65,990 Interests in associates accounted for using the equity method 181,329 Non-current financial assets 15,836 Non-current derivatives assets 18,149 Other non-current assets 25,095 Deferred tax assets 208,322 Total non-current assets 24,405,317 Inventories 92,734 Trade receivables 466,837 Cost of obtaining contracts with customers 99,518 Contract assets 251,015 Current financial assets 13,751 Current derivatives assets - Other current assets 4,490 Operating tax receivables 97,473 Income tax receivables 222,773 Prepaid expenses 329,816 Cash and cash equivalents 98,338 Total current assets excluding assets held for sale 1,676,745 Assets held for sale 143,404 Total current assets 1,820,149 Total assets 26,225,466 31 March 2025 Equity and liabilities Share capital 500,000 Share premium 6,654,363 Retained earnings (698,111) Other reserves (37,252) Equity attributable to owners of the parent compan y 6,419,000 Non-controlling interests 9 Total equity 6,419,009 Non-current fixed assets payables 557,408 Non-current financial liabilities 10,790,013 Non-current lease liabilities 1,171,810 Non-current derivatives, liability 25,720 Non-current provisions 795,842 Other non-current liabilities 13,532 Deferred income 131,774 Deferred tax liabilities 735,941 Customer contract liabilities 205,444 Total non-current liabilities 14,427,484 Current fixed assets payables 604,019 Trade payables 2,029,096 Current financial liabilities 1,854,977 Current lease liabilities 307,928 Current derivatives liability 22,780 Current provisions 158,806 Current employee benefits 36,998 Other current liabilities 118,602 Operating taxes payables 162,118 Current taxes payables 1,267 Customer contract liabilities 52,823 Deferred income 29,559 Total current liabilities 5,378,973 Total equity and liabilities 26,225,466 (in thousands of euros) (in thousands of euros)
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Consolidated income statement (in thousands of euros) 31 March 2025 Revenue 1,871,494 External purchases (1,026,477) Other operating income 41,477 Other operating expenses (44,802) Labour expenses (89,787) Operating tax (40,050) Gains (losses) on disposal of fixed assets, investments and activities (2,173) Restructuring costs (8,800) Depreciation and amortisation (502,161) Depreciation and amortisation of right-of-use assets (61,415) Share of profits (losses) of associates and joint ventures (3,155) Operating income 134,151 Cost of gross financial debt (230,958) Interests on lease liabilities (12,142) Other net financial expenses (15,096) Finance costs, net (258,196) Income taxes 8,773 Consolidated net income (115,272) Net income attributable to owners of the parent company (115,279) Non-controlling interests 7
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Consolidated statement of cash flows (in thousands of euros) 31 March 2025 Operating activities Consolidated net income (115,272) Non-monetary items and reclassified items for presentation Gains (losses) on disposal of fixed assets, investments and activities (1,290) Other gains and losses (3,322) Depreciation and amortisation of fixed assets 502,161 Depreciation and amortisation of right-of-use assets 61,415 Changes in provisions (18,727) Impairment losses from trade receivables (28,017) Capitalization of the cost of obtaining contracts with customers 21,233 Recognised costs for contractual assets 56,292 Share of profits (losses) of associates 3,155 Changes in the fair value of derivative financial instruments 3,463 Finance costs, net 258,196 Income tax (8,773) Changes in working capital Assets / Liabilities held for sale - Provisions (9,738) Decrease (increase) in inventories, gross (5,744) Decrease (increase) in trade receivables, gross 114,079 Increase (decrease) in trade payables 244,061 Changes in other customer contract assets and liabilities (175,087) Changes in other assets and liabilities (163,936) Other net cash out Interest paid (222,843) Income tax paid - Proceeds from cashflow hedges 4,483 Net cash provided by operating activities (a) 515,789 Investing activities Payments for property, plant and equipment and intangible assets (510,334) Payments for financial assets at amortised cost (13,593) Proceeds from sale of property, plant and equipment and intangible assets 4,463 Proceeds from investment on financial assets 3,526 Proceeds from goverments grants 18,277 Cash acquired as a result of a joint venture transaction - Net cash used in investing activities (b) (497,661) Financing activities Proceeds from borrowings 721,594 Proceeds from other financial liabilities 8,702 Proceeds from government grants Repayment of borrowings (560,421) Payments from other financial liabilities (135,229) Payments of lease liabilities (50,497) Net cash used in financing activities (c) (15,851) Cash change in cash and cash equivalents (a) + (b) + (c) 2,277 Net change in cash and cash equivalents Cash and cash equivalents in the opening balance 96,061 Cash and cash equivalents in the closing balance 98,338