MasOrange sees record FY revenues
February 19, 2026
From David Del Valle in Madrid
Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) reached €2.84 billion between January and December, up 2.4 per cent year on year. The performance represents the company’s seventh consecutive quarter of growth since its creation. Operating free cash flow rose by 10.1 per cent to €1.86 billion, reflecting improved efficiency and stronger underlying trading.
MásOrange reported 33 million access lines — excluding M2M lines — of which 26.2 million are mobile, nearly 22 million in the postpaid segment, and more than 7.1 million fixed broadband lines, of which 6.9 million are fibre optic. Including M2M, the total number of lines managed by MasOrange exceeds 41 million, reaffirming its position as the operator with the largest customer base in Spain.
MasOrange invested approximately €1.2 billion during the year — more than 15 per cent of total revenues — in a strategic push to reinforce its infrastructure and service capabilities. Capital expenditure was primarily directed towards the expansion of 5G networks and FTTH deployments, as well as the transformation of its advanced services portfolio and broader technological innovation initiatives.
“We are very pleased to continue achieving very significant growth in revenue, customers, and profitability. Our diversification strategy and strong commitment to investment and innovation are delivering very good results, consolidating us as one of the fastest-growing telecom operators in Europe,” said Meinrad Spenger, CEO of MasOrange.
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