Earnings release
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MasOrange, S.L. and Subsidiaries Consolidated statement of financial position 30 June 2025 Assets Goodwill 8,320,616 Other intangible assets 7,624,171 Property, plant and equipment 6,087,157 Right-of-use assets 1,607,828 Cost of obtaining contracts with customers 249,443 Contract assets 55,454 Interests in associates accounted for using the equity method 182,656 Non-current financial assets 9,509 Non-current derivatives assets 18,479 Other non-current assets 104,902 Deferred tax assets 243,709 Total non-current assets 24,503,924 Inventories 83,581 Trade receivables 600,313 Cost of obtaining contracts with customers 195,839 Contract assets 260,009 Current financial assets 5,993 Current derivatives assets - Other current assets 48,181 Operating tax receivables 99,496 Income tax receivables 221,948 Prepaid expenses 267,681 Cash and cash equivalents 125,572 Total current assets excluding assets held for sale 1,908,613 Assets held for sale - Total current assets 1,908,613 Total assets 26,412,537 30 June 2025 Equity and liabilities Share capital 500,000 Share premium 6,654,363 Retained earnings (718,095) Other reserves (68,577) Equity attributable to owners of the parent compan y 6,367,691 Non-controlling interests (22) Total equity 6,367,669 Non-current fixed assets payables 583,448 Non-current financial liabilities 10,805,117 Non-current lease liabilities 1,535,142 Non-current derivatives, liability 37,860 Non-current provisions 784,903 Other non-current liabilities 14,159 Deferred income 182,695 Deferred tax liabilities 706,148 Customer contract liabilities 205,444 Total non-current liabilities 14,854,916 Current fixed assets payables 551,148 Trade payables 2,012,266 Current financial liabilities 1,823,035 Current lease liabilities 125,926 Current derivatives liability 45,558 Current provisions 132,431 Current employee benefits 41,984 Other current liabilities 180,134 Operating taxes payables 171,907 Current taxes payables 35,944 Customer contract liabilities 44,342 Deferred income 25,277 Total current liabilities 5,189,952 Total equity and liabilities 26,412,537 (in thousands of euros) (in thousands of euros)
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Consolidated income statement (in thousands of euros) 30 June 2025 Revenue 3,776,945 External purchases (2,030,171) Other operating income 77,508 Other operating expenses (88,099) Labour expenses (176,680) Operating tax (84,312) Gains (losses) on disposal of fixed assets, investments and activities 153 Restructuring costs (21,508) Depreciation and amortisation (1,013,534) Depreciation and amortisation of right-of-use assets (116,759) Share of profits (losses) of associates and joint ventures (1,828) Operating income 321,715 Cost of gross financial debt (427,233) Interests on lease liabilities (35,446) Other net financial expenses (29,030) Finance costs, net (491,709) Income taxes 34,742 Consolidated net income (135,252) Net income attributable to owners of the parent company (135,228) Non-controlling interests (24)
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Consolidated statement of cash flows (in thousands of euros) 30 June 2025 Operating activities Consolidated net income (135,252) Non-monetary items and reclassified items for presentation Gains (losses) on disposal of fixed assets, investments and activities (3,616) Other gains and losses (5,552) Depreciation and amortisation of fixed assets 1,013,534 Depreciation and amortisation of right-of-use assets 116,759 Changes in provisions (22,881) Impairment losses from trade receivables (51,965) Capitalization of the cost of obtaining contracts with customers 49,256 Recognised costs for contractual assets 116,515 Share of profits (losses) of associates 1,828 Changes in the fair value of derivative financial instruments 3,463 Finance costs, net 491,709 Income tax (34,742) Changes in working capital Assets / Liabilities held for sale - Provisions (42,898) Decrease (increase) in inventories, gross 3,409 Decrease (increase) in trade receivables, gross 2,527 Increase (decrease) in trade payables 193,729 Changes in other customer contract assets and liabilities (358,112) Changes in other assets and liabilities (119,724) Other net cash out Interest paid (358,468) Income tax paid (1,589) Proceeds from cashflow hedges 6,351 Net cash provided by operating activities (a) 864,281 Investing activities Payments for property, plant and equipment and intangible assets (893,988) Payments for financial assets at amortised cost (63,460) Proceeds from sale of property, plant and equipment and intangible assets 189,898 Proceeds from investment on financial assets 9,853 Proceeds from goverments grants 69,198 Cash acquired as a result of a joint venture transaction Net cash used in investing activities (b) (688,499) Financing activities Proceeds from borrowings 1,082,363 Proceeds from other financial liabilities 55,702 Proceeds from government grants Repayment of borrowings (1,051,714) Payments from other financial liabilities (113,640) Payments of lease liabilities (118,982) Net cash used in financing activities (c) (146,271) Cash change in cash and cash equivalents (a) + (b) + (c) 29,511 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 125,572