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TDC reports a net profit of DKK396m in 2021

14 Feb 2022

Danish telco TDC has published its financial results for the twelve months ended 31 December 2021, reporting a marginal 0.5% decrease in revenues year-on-year to DKK16.002 billion (USD2.44 billion), down from DKK16.089 billion in 2020. EBITDA marginally increased by 0.1% to DKK6.427 billion in 2021, while gross profit totalled DKK11.088 billion (down by 3.3% 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 DKK396 million (up 162.3% y-o-y), while capital expenditures in 2021 were down 20.7% y-o-y to DKK4.399 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.

TDC said that it completed the separation of TDC Group into TDC Net and Nuuday, with future reporting set to focus on TDC Net and Nuuday as independently financed companies. TDC Net reported revenues of DKK1.687 billion (down 2.3% y-o-y) in 2021, while EBITDA increased 1.4% y-o-y to DKK4.498 billion, driven by a flat gross profit development and lower operating expenses. For its part, Nuuday generated revenues of DKK14.657 billion in 2021 (down 1% y-o-y), while EBITDA decreased 6% annually to DKK1.823 billion.

Denmark, TDC (incl. Nuuday, TDC Net)

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