Danish telco TDC, the country’s leading operator in terms of subscribers, has published its financial results for the three months ended 31 March 2020, reporting a 4.1% decline in revenues year-on-year to DKK4.126 billion (USD597.86 million), down from DKK4.304 billion in Q1 2019. The fall was driven mainly by TV, other services and the continued decline in landline voice services, which was partially offset by growth in mobility services. Meanwhile, EBITDA dropped 2.0% to DKK1.664 billion in Q1 2020, while Q1 gross profit totalled DKK2.976 billion (down 3.8% y-o-y). Profit for the period also decreased, to DKK21 million (down from DKK228 million in Q1 2019), while capital expenditures in Q1 were up 43.4% y-o-y to DKK1.398 billion, due to increased investment in upgrading the mobile network in preparation for 5G and the swap to Ericsson equipment, as well as TDC’s fibre rollout.
The group also highlighted that the merger of Fullrate into YouSee had commenced in Q1 2020; the first customer migrations were completed as planned, with migrations scheduled to continue in Q2.