TDC reports second quarter results

13 Aug 2007

Danish incumbent TDC has reported its results for the quarter ended 30 June 2007. Highlights include a 2.5% increase in revenues year-on-year to DKK10 billion (USD1.85 billion), attributable to more domestic mobile and cable TV customers. EBITDA increased by 2.6% compared to 2Q 2006 to DKK3.1 million, impacted by the acquisition of Hungarian incumbent Invitel and the divestment of Baltic operator Bité. Adjusted for acquisitions and divestments, EBITDA was up 1.6% year-on-year.

The company’s outlook for 2007 shows expected revenues will increase slightly compared to 2006, as the continued growth in the broadband and mobile sectors, along with the acquisition of Invitel, more than offset the decrease in landline business and the impact of the divestment of Bité. Net income is expected to decrease approximately 20% in 2007, as a result of an altered capital structure and the acquisition of Invitel, plus an amendment to Danish corporate tax legislation.

Denmark