Andorra Telecom Profits Surge 40% Above Forecast to €26.2M in 9 Months

Andorra Telecom has recorded stronger-than-expected profits through the first nine months of 2025, reaching €26.2 million as of 30 September—40% above the budgeted forecast of €18.6 million.

The state-owned company disclosed these figures in its financial statements submitted to the Consell General. The results slightly exceed the €26.02 million achieved over the same period in 2024, marking a 0.7% increase. They already surpass the full-year budget projection of €22.7 million, with roaming revenues holding steady and domestic operations showing gains despite lower financial returns.

Domestic turnover, excluding roaming income from foreign mobile users, climbed to €49.86 million, up 2% from €48.86 million in the prior year. Mobile line billing rose 2% to €19.9 million, while fixed telephony—including home internet and cable TV—increased 1%. Public and institutional services also contributed to the uplift.

Roaming revenues reached €13.9 million, exceeding the €12.34 million forecast by 12.6% and topping 2024's €13.6 million by 1.8%. This remains a key income stream, countering earlier predictions of decline.

Cost controls bolstered the performance. Personnel expenses dropped sharply to €10.90 million from €19.96 million, and depreciation fell to €8.36 million from €10 million. Net operating profit stood at nearly €24 million, up from just over €22 million last year. Financial income from investments added €4.8 million, down from an exceptional €6.3 million in 2024.

The company anticipates even better full-year results than initially projected. The government's 2026 budget had assumed Andorra Telecom would deliver €27.39 million in profits for 2025, which would feed into public revenues. Final figures will depend on fourth-quarter performance.