DNA Plc’s Interim Report January-September 2019: DNA’s net sales and EBITDA grew strongly

DNA PLC STOCK EXCHANGE RELEASE 22 OCTOBER 2019, 8:30 AM EEST
DNA arranges two news conferences today. News conference for media and analysts in Finnish is held at 10:00 am Finnish time. Conference call for analysts and institutional investors in English is at 1:00 pm Finnish time. Details of the events can be found at the end of this release.This is a summary DNA’s Interim Report January-September 2019. The complete report is attached to this release and also available at www.dna.fi/investors.SummaryUnless otherwise stated, the comparison figures in brackets refer to the corresponding period in the previous year (reference period). Figures are unaudited. The impact of IFRS 16 on the statement of financial position and income statement is presented in Note 12.July–September 2019Net sales increased 5.0% and amounted to EUR 238.8 million (227.5).Mobile service revenue grew 8.1% and was EUR 124.0 million (114.7).EBITDA increased 4.0% and was EUR 79.3 million (76.3), or 33.2% (33.5) of net sales.Comparable EBITDA increased 9.6% and was EUR 83.6 million (76.3).Operating result decreased 5.4% and was EUR 37.1 million (39.3). Operating result as a percentage of net sales was 15.5% (17.3).Comparable operating result increased 5.5% and came to EUR 41.4 million (39.3).In the review period, the comparability of EBITDA and operating result were affected by non-recurring expense items of EUR 4.3 million in relation to business restructuring.IFRS 16 had a positive effect on EBITDA in the review period and an insignificant impact on operating result (Note 12).Earnings per share was EUR 0.21 (0.22).Revenue per user (ARPU) for mobile communications increased 0.6% and was EUR 18.9 (18.8).The mobile communication subscription turnover rate (CHURN) increased and was 16.4% (15.8). January–September 2019Net sales increased 3.7% and amounted to EUR 699.7 million (674.8).Mobile service revenue grew 7.2% and was EUR 362.8 million (338.4).EBITDA increased 6.2% and was EUR 233.2 million (219.5), or 33.3% (32.5) of net sales.Comparable EBITDA increased 8.2% and came to EUR 237.5 million (219.5).Operating result decreased 2.6% and was EUR 107.6 million (110.5). Operating result as a percentage of net sales was 15.4% (16.4).Comparable operating result increased 1.3% and came to EUR 111.9 million (110.5).In the review period, the comparability of EBITDA and operating result were affected by non-recurring expense items of EUR 4.3 million in relation to business restructuring.IFRS 16 had a positive effect on EBITDA in the review period and an insignificant impact on operating result (Note 12).Operating free cash flow increased 21.4% and was EUR 169.2 million (139.4).Earnings per share was EUR 0.60 (0.61).The mobile communication subscription base shrank 1.2%, totalling 2,820,000 (2,855,000).Revenue per user (ARPU) for mobile communications decreased slightly and was EUR 18.6 (18.7).The mobile communication subscription turnover rate (CHURN) decreased and was 15.8% (16.7).The fixed-network subscription base (voice, broadband and cable television) grew 6.7% to 1,225,000 subscriptions (1,148,000).DNA upgraded its guidance for 2019 on 15 October 2019DNA’s net sales in 2019 are expected to increase somewhat, and EBITDA in 2019 is expected to increase substantially from 2018. DNA’s financial position and liquidity are expected to remain at a healthy level.DNA’s previous guidance for 2019 (published on 1 February 2019): DNA’s net sales in 2019 are expected to remain at the same level as in 2018, and EBITDA in 2019 is expected to increase substantially from 2018. DNA’s financial position and liquidity are expected to remain at a healthy level.DNA’s guidance for 2019 is disclosed with consideration to the impact of the adoption of IFRS 16. The adoption of IFRS 16 from the beginning of 2019 is estimated to have a positive impact of approximately EUR 17 million in EBITDA in 2019.Key figuresFigures are unaudited.
The impact of IFRS 16 on the statement of financial position and income statement is presented in note 12.

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