United Group’s revenue increased to two billion euros in Q3 2025

The telecommunications and media company United Group has announced its financial results for the first nine months of 2025, showing revenue growth and adjusted EBITDA on a year-over-year basis.

Revenue increased to two billion euros, a three percent rise compared to the same period last year, primarily due to organic growth in the subscriber base, increased sales of higher-value services, the application of indexing, and ICT projects. Revenue for the last twelve months reached 2.7 billion euros, an increase of four percent compared to the previous year.

Adjusted EBITDA rose by seven percent to approximately 680 million euros, outpacing revenue growth due to continuous cost control that offset the increase in labor costs present in most markets. Adjusted EBITDA for the last twelve months reached 909 million euros, a nine percent increase year-over-year.

Capital expenditures, excluding leases, increased to approximately 550 million euros, mainly due to increased investments in fixed networks (especially in building optical infrastructure in Greece), investments in mobile infrastructure, and energy projects.

As of September 30, 2025, the Group’s net debt was reduced to 4.27x compared to 4.70x on June 30, 2025, while gross debt decreased to 4.44x from 4.80x in the same period.

After the sale of assets in Serbia, United Group is focused on core activities within the EU and business growth in telecommunications, media, and technology. According to the statement, the portfolio has been simplified, and management focus is directed towards key companies in Greece, Bulgaria, Croatia, and Slovenia.

United Group recently appointed Kim Kyllesbech Larsen as Chief Technology and Information Systems Officer and Dejan Kocić as Acting CEO of United Cloud.

– Our results in the third quarter are characterized by strong organic growth, confirming that our activities are yielding results. We have successfully directed our business towards our core portfolio, enabling local teams to achieve exceptional results. As we continue to create value in our telecommunications, media, and technology businesses, our priority remains strong discipline in capital allocation, growth in cash conversion, and generating long-term value for all stakeholders – stated Stan Miller, CEO of United Group.