- Q1 revenue up 0.5% and EBITDA bpi (before pension income) down 1.2%, in line with our expectations; EBITDA bpi is flat adjusted for a Q1 2011 one-off (DKK 25m)
- Equity free cash flow down 59.8%, driven by different timing of interest payments, income taxes and capex as well as negative development in net working capital partly due to financing of smartphones (TDC Rate)
- Net interest-bearing debt to EBITDA bpi ratio of 2.1x
- Proceeds from settlement of the dispute between DPTG and TPSA distributed through a share buy-back of DKK 750m completed on 19 April 2012, representing DKK 0.92 per share
- Best quarterly pay-TV subscriber growth ever (+37k) driven by HomeTrio Mini and YouSee following market changes
- Strong EBITDA bpi growth in Nordic fuelled by TDC Sweden (+53% in local currency) and TDC Hosting (+24%)
- Domestic mobile subscribers up by 17k compared with Q4 2011
- Business ARPU drop in broadband and mobile voice due to new public sector SKI contracts and large enterprise contracts being won or renewed at reduced prices
- Consumer mobile ARPU dropped as price decreases over the past 18 months were phased in. The price war had only had limited ARPU impact in Q1 2011
- Lowest YoY organic landline (voice and internet) gross profit loss in recent years; 37% better than in Q1 2011
- Customer satisfaction achieved the highest score since tracking commenced three years ago
- Search for new CEO has started
-
2012 guidance confirmed:
- Revenue: DKK 26.0-26.5bn
- EBITDA bpi: DKK 10.3-10.5bn
- Capex: DKK 3.4-3.5bn
- Dividends per share: DKK 4.60 (after share buy-back)
For inquiries regarding the report please contact TDC Investor Relations at +45 6663 7680 or investorrelations@tdc.dk
TDC A/S
Teglholmsgade 3
0900 Copenhagen C
DK-Denmark
tdc.com
