TDC reports a 2.8% decrease in revenues in 3Q19

Danish telco TDC, the country’s leading operator in terms of subscribers, has published its financial results for the three months ended 30 September 2019, reporting a 2.8% decline in revenues year-on-year to DKK4.215 billion (USD620.83 million), down from DKK4.338 billion in Q3 2018. Adjusted for the impact of acquisitions/divestments and costs related to the separation of TDC, organic revenue decreased by 2.4%, due mainly to a decline in landline voice and other service revenues, which was partly offset by growth in mobility services. Meanwhile, EBITDA remained largely flat in the period under review at DKK1.657 billion, while gross profit totalled DKK3.009 billion (down 2.5% y-o-y). Profit for the period also decreased, to DKK97 million (down 62.8% y-o-y), while capital expenditures were up 35.3% y-o-y to DKK1.080 billion, due to increased investments in upgrading the mobile network in preparation for 5G and the swap to Ericsson equipment, and TDC NetCo’s fibre rollout; TDC also revealed that the responsibility for the managed service of its mobile network has now been successfully transferred to Ericsson.