TDC A/S
Satisfactory EBITDA and cash flow results in Q1
DGAP-News: TDC A/S / 06.05.2014 / 08:00 --------------------------------------------------------------------- Financial -- Revenue down by 5.2%; organic revenue decreased by 3.6% in line with the 2013 level -- Gross profit down by 2.5%, resulting in lowest organic gross profit decline in 3 years (DKK 77m) -- Timing of personnel-related savings fuelled higher than expected opex savings (5.3%) -- Almost flat EBITDA development (-0.3%) after 8 quarters with consecutive EBITDA decline; organic EBITDA growth of 0.9% -- Equity free cash flow as expected (DKK 381m); 20.3% YoY decline due to different timing of tax payments -- 2014 guidance after TDC Finland disposal: Organic revenue will decrease less than in 2013 (2013: -3.5%), EBITDA > DKK 9.6bn, Capex of DKK 3.7bn and DPS of DKK 3.70 Operational -- Challenging service level in call centres negatively affected the recommend score (-2 points vs. Q4) and level of unacceptable customer experiences (-10 points vs. Q4); mitigation plan including increased staff in place -- Residential mobile subscribers down 57k vs. Q4 affected by low ARPU churn (31k) and aggressive competitor initiatives -- Strong residential broadband net adds (10k vs. Q4) driven by YouSee -- TV net adds of 18k vs. Q4 affected by strong intake in TDC brand/Fullrate (12k), inclusion of a large antenna association (14k) in YouSee as reported in Q4 2013, partly offset by a minor drop in individual customers as well as leakage from antenna associations -- The number of high ARPU households increased by 7% vs. Q4 TDC A/S Teglholmsgade 1 0900 Copenhagen C DK-Denmark tdc.com News Source: NASDAQ OMX End of Corporate News --------------------------------------------------------------------- 06.05.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: TDC A/S Denmark ISIN: DK0010253335 End of News DGAP News-Service --------------------------------------------------------------------- 266547 06.05.2014
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