TDC Group’s revenues, EBITDA down in 1H17

11 Aug 2017

Danish telco TDC, the country’s leading operator in terms of subscribers, has published its financial report for the six months ended 31 June 2017, reporting a marginal 1.1% year-on-year decrease in revenue to DKK10.262 billion (USD1.6 billion), down from DKK10.398 billion in H1 2016. The company attributed the development to a sustained decline in landline and TV revenues in its domestic market, which was partly offset by growth in Norway and mobile services in Denmark. However, the company pointed out that the decrease was an improvement when compared to the same period last year (down 4.4% in 1H16). Meanwhile, EBITDA decreased by 1.9% from DKK4.265 billion in 1H16 to DKK4.185 billion in the twelve months to end-June 2017, while gross profit reached DKK7.627 billion (down 2.2% y-o-y). Profit for the period also decreased, to DKK1.052 billion (down by DKK137 million); excluding ‘special items’, profit slumped by 27.4% due to higher amortisation and depreciation costs.

In operational terms, TDC reported 2.939 million post-paid mobile revenue generating units (RGUs) in its domestic market at end-June 2017, down from 2.949 million reported in mid-2016, while broadband RGUs reached 1.209 million, down from 1.258 million at end-June 2016.

Pernille Erenbjerg, president and CEO at TDC, commented: ‘Our financial results in Q2 2017 were as we expected and in line with the stabilising trend from 1Q17. On that basis, we are pleased to confirm our full-year 2017 guidance. In 2Q17, EBITDA declined by 2.8% compared with a decrease of 10.5% in full-year 2016. This improvement reflected a better trend in our Danish gross profit combined with a 3.3% y-o-y improvement in organic OPEX. Our cash flow (EFCF) also developed satisfactorily in Q2 2017 with a 10.6% increase y-o-y.’

Denmark, Norway, Get Norway (incl. TDC Nordic [Norway]), TDC (YouSee), TDC Group (old)