TDC : Solid results in challenging markets

| Source: TDC A/S


  • 2013 guidance was achieved for EBITDA, CAPEX and DPS, while revenue met revised guidance as of Nov 2013
  • FY 2013 Equity free cash flow growth of 4.8% resulted in a pay-out ratio of 89% in line with TDC’s dividend policy
  • Revenue down by 6.1% in Q4 in line with FY 2013 development; adjusted for regulation effects and adverse exchange rate development, organic revenue decreased 3.7% in Q4
  • Organic opex savings of 8.8% in Q4 resulted in best quarterly EBITDA development in 2013 in both reported (-1.0%) and organic terms (1.6%)
  • Network CAPEX ramp up by DKK 250m versus 2012 driven by 4G build out and super broadband investments
  • 2014 guidance: Organic revenue will decrease less than in 2013, EBITDA > DKK 9.8bn, Capex of DKK 3.7bn and DPS of DKK 3.70


  • High ARPU households (ARPU above DKK 600) in TDC/YouSee brand increased by 46% to 284k during 2013 as a result of price increases, upsale as well as Onfone integration into YouSee
  • Business mobile ARPU still trending downwards, but lowest quarterly YoY ARPU decrease in Business in two years (-9% in Q4)
  • Continued TV net adds in TDC brand (5k) and successful Fullrate TV relaunch (4k) compensated for the loss of YouSee customers in the organized market (-10k in Q4)
  • Increased loss of residential landline voice subscribers (-125k) versus 2012 as the HomeTrio mobile offering migrated low ARPU landline customers to mobile voice
  • Customer satisfaction and recommend score improved by 1 point and 2 points respectively versus 2012; employee satisfaction still at a high level (78)

         TDC A/S
         Teglholmsgade 3
         0900 Copenhagen C