TDC reports full year results

Danish incumbent TDC has reported revenues for the twelve months ended 31 December 2007 of DKK39.32 billion (USD7.8 billion), a fall of 1.6% from 2006 resulting from ‘lower revenue from traditional landline telephony, lower mobile termination and roaming prices and an unfavourable developments in the Swiss exchange rate’. EBITDA fell 3.8% year-on-year to DKK12.5 billion. Adjused for the sale of former Baltic subsidiary Bite and the takeover of Invitel, EBITDA fell 5%. Net profit for 2007 was up 55% compared to 2006, reaching DKK8.167 billion, including a one-off gain of DKK4.61 billion from the sale of Bite and a charge of DKK2.51 billion on the Swiss operation Sunrise. It also includes DKK461 million restructuring costs and a DKK166 million tax rebate.