TDC H1 2009 revenue flat, EBITDA up 8.4%

12 Aug 2009

Danish telecoms company TDC generated group revenue of DKK17.84 billion (USD3.39 billion) in the first half of 2009, down 0.4% compared to the same period of 2008. The company’s earnings before interest, tax, depreciation and amortisation (EBITDA) rose 8.4% year-on-year to reach DKK6.34 billion, while net income from continuing operations, excluding special items, increased by 5.6% to DKK2.34 billion, reflecting higher EBITDA and lower net financial expenses, counteracted by lower income from joint ventures and associates. TDC’s outlook for 2009 remains unchanged, with the company expecting revenue and net income from continuing operations excluding special items to be level with 2008.

In terms of subscribers, the group’s total customer base reached 11.3 million at 30 June 2009, up 7.1% compared to the same date a year earlier. TDC’s domestic customer base totaled 8.4 million, up 2.6% year-on-year thanks to growth in the mobile customer base to 3.13 million (up 6.7% year-on-year) and a 9.5% rise in retail broadband subscribers to reach 1.29 million, as well as the consolidation of Danish broadband providers A+ and Fullrate. The growth in domestic customers was partly offset by a 7.6% year-on-year fall in landline voice customers to 2.08 million and a 12.6% decline in wholesale broadband subscribers to 118,000. More than 100,000 customers have subscribed to its multi-play products TDC HomeTrio and TDC HomeDuo since their launch in January 2009. The total international customer base reached 2.9 million, up 22.3% year-on-year driven by an increase in the number of Swiss telco Sunrise’s customers and the acquisition of its rival Tele2. In 1H 2009 Sunrise’s revenue totaled DKK4.83 billion, up 14% year-on-year, while EBITDA grew 20.4% to DKK1.19 billion thanks to the acquisition of Tele2 in Switzerland, a favorable currency impact and growth in the residential mobile business.

Denmark, Sunrise Communications