TDC : Q1 results as expected

·   Q1 revenue down 6.1%, of which more than 50% was due to regulatory impacts, but also negatively

      affected by fewer working days compared with 2012
 

·   Improved organic gross profit trend in both domestic internet & network and mobility services
 

·   TV continues profitable growth in line with expectations
 

·   Organic opex savings (9.1%) partly compensate for the gross profit decline of 5.4% and result in an

      EBITDA decrease of 2.8%, of which 74% is caused by regulatory impact
 

·   EFCF growth of 94.3% driven by a strong NWC improvement

·   Landline telephony ARPUs down YoY due to fewer working days and regulatory impacts
 

·   Contained mobile voice ARPU development in Business after five quarters with drops
 

·   Retail mobile voice subscription RGU decrease of 14k (mainly low ARPU RGUs) vs. Q4 2012
 

·   Continued intake of mobile RGUs in Nordic
 

·   High customer satisfaction (76) and employee satisfaction (81) scores
 

·   Lowest number of fault-handling hours in several years (reduced by 24% vs. Q1 2012)