TDC reports increases in revenue, EBITDA in Q2 2021

Danish telco TDC has published its financial results for the three months ended 30 June 2021, reporting a 1.3% increase in revenues year-on-year to DKK3.965 billion (USD628 million), up from DKK3.915 billion in Q2 2020. The growth was driven mainly by improvements in mobility services and other services. EBITDA marginally increased by 0.8% to DKK1.622 billion in Q2 2021, while Q2 gross profit totalled DKK2.787 billion (down by 1.6% y-o-y), mainly related to ‘legacy technologies in internet and networks and the continued decline in landline voice’. Profit for the period improved, however, to DKK103 million (up from a DKK48 million loss in Q2 2020), while capital expenditures in Q2 were down 13.7% y-o-y to DKK1.133 billion, due to increased investment in 2020 in upgrading the mobile network in preparation for the 5G launch (which took place on 7 September 2020) and the swap to Ericsson equipment, as well as TDC’s fibre rollout. CAPEX related to mobile licences was DKK670 million in the first half of 2021, reflecting the licences acquired in the combined auction (1500MHz, 2100MHz, 2300MHz, 3.5GHz and 26GHz), which was concluded in April 2021.