Highlights
• Revenue declined by 0.7% to DKK 9,605m compared with 1Q 2007, due to lower
revenue from traditional landline telephony, lower mobile termination and
roaming prices as well as fewer wholesale customers. This was partly offset by
more broadband and cable-TV customers as well as more mobile customers in
Sunrise and Mobile Nordic. Adjusted for acquisition and divestment of
enterprises, revenue was down by 2.9%.
• EBITDA was down by 3.5% to DKK 2,973m compared with 1Q 2007, due to the lower
revenue but also higher operating expenses as a result of sale and lease back
of buildings, higher customer acquisition and retention costs due to growth in
customer intake as well as one-off expenses in connection with sale of
uncollectibles in Sunrise. This was partly offset by a positive net impact from
the acquisition of Invitel and divestment of Bité. Adjusted for acquisitions
and divestments of enterprises, EBITDA declined by 7.4%, primarily driven by a
decline in Sunrise of 4.5% and higher lease payments of 1.7% due to the sale
and leaseback of properties in 2007.
• Net income declined to DKK 650m compared with DKK 2,035m in 1Q 2007, due to
the gain from the divestment of Bité in 2007.
• Net income from continuing operations, excluding special items and fair value
adjustments, was down by 3.1% to DKK 708m.
• Cash flow declined to DKK (1,936)m compared with DKK 3,331m in 1Q 2007, due
to divestments in 1Q 2007 and repayment of loans in 1Q 2008.
• Net interest-bearing debt was down by DKK 9,562m to DKK 42,269m.
Outlook for 2008 (unchanged)
• Revenue is expected to increase slightly, due to the full-year effect of
HTCC's acquisition of Invitel, and growth in YouSee and Mobile Nordic.
• Net income from continuing operations, excluding special items and fair value
adjustments, is expected to increase 10%-20%. More efficient operations and
decreasing interest expenses will be partly offset by higher taxes from the
full-year effect of new tax legislation.
Please read the full report attached to the link below.
For further information please contact TDC Investor Relations at +45 6663 7680.
TDC A/S
Noerregade 21
0900 Copenhagen C
DK-Denmark
tdc.com
