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TDC NET Holding: Interim Financial Report H1 2022

Written by Customer Service on . Posted in Earnings Releases And Operating Results.

  • Revenue growth of 0.3% YoY, as increased revenue from mobility services and high-speed broadband more than outweighed lower revenue from legacy products
  • EBITDA growth of 1.8% YoY, driven by improvements in gross profit margin despite rising costs for, among others, power
  • Capital expenditures totalled DKK 1,454m, down by 4.0% YoY with continued high investments in fibre rollout and IT applications; 48k new homes were passed with fibre in H1 2022
  • Halfway through 2022, TDC NET confirms our full-year guidance with a flat revenue development, low single-digit EBITDA growth and an investment level similar to 2021
  • TDC NET entered a long-term secured infrastructure financing platform of EUR 3.3bn, partly replaced by EUR 500m in Sustainability Linked Notes. In addition, TDC NET obtained bilateral loans of EUR 100m
  • TDC NET introduced a Fibre Activation Programme to be launched 1 October 2022, to incentivise migration to fibre, and announced changed broadband prices across technologies with effect from 1 January 2023
  • During the Tour de France in Denmark, TDC NET applied future 5G technologies as part of the network was allocated to high-speed live TV transmissions while large crowds were using the network at the same time
  • It was announced that CEO Andreas Pfisterer will leave TDC NET. Focus on improving the performance of the company remains

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