NOT INTENDED FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES. NOT INTENDED FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, TO ANY PERSON IN ANY JURISDICTION WHERE RELEASE, PUBLICATION OR DISTRIBUTION TO SUCH PERSON IS RESTRICTED BY ANY LAW OR REGULATION APPLICABLE IN SUCH JURISDICTION.
THIS ANNOUNCEMENT IS NOT AN OFFER TO SELL OR ISSUE OR INVITATION TO PURCHASE OR SUBSCRIBE FOR, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES.
Highlights
- TDC NET continued investing in digital infrastructure in Denmark. TDC NET maintained its focus on further expanding its position as a market leader within mobile network, and to futureproof fixed connections.
- TDC NET was the first company in the world to obtain a validated 2030 net-zero target for the entire value chain by the Science Based Targets initiative (SBTi). TDC NET has a strong focus on energy efficiency, renewable energy, and supplier engagement in order to achieve the target of becoming net-zero internally in 2028 and in the external value chain in 2030.
- TDC NET expanded its high-speed footprint through extensive investments in fibre rollout for additional 109k addresses with speeds of up to 2,500 Mbps.
- TDC NET established a secured financing platform that ring fences the company from the remainder of TDC Group. All debt issued or borrowed under the financing platform is senior secured on a pari passu basis, including public notes, syndicated term loan facilities, bilateral loans, swaps, and other hedging transactions.
Financials
- Revenue development was flat with a total revenue of DKK 6,639m in 2022 compared to DKK 6,674m in 2021. Excluding the impact of legacy products (e.g., landline, TV, and DSL broadband), revenue increased by 6.1% compared with 2021. This was driven by sales from high-speed broadband, where fibre revenue grew by 36.5% or DKK 84m and coax grew by 8.1% or DKK 66m.
- Gross profit was stable year-over-year at DKK 6,377m, corresponding to an increase of 0.3%, or DKK 21m. The development was driven by a continued decline in landline voice and other services, offset by growth in high-speed broadband and mobility services.
- Operating expenses were stable at DKK -1,857m, corresponding to an improvement of 0.1%. The development was driven by a mixture of significantly higher electricity prices as well as an increase of number of employees. However, this was offset by cost optimisation programmes across the organisation with lower external expenses.
- EBITDA increased by DKK 22m to DKK 4,520m, despite significant increases in electricity costs. This was attributable to stable operating expenses combined with the improved gross profit, resulting in an improved EBITDA margin, which increased by 0.7 percentage points to 68.1%.
- Capital expenditure totalled DKK 3,248m, corresponding an increase of 3.6% or DKK 114m compared with 2021.
For inquiries regarding the above please contact TDC NET Investor Relations on +45 21 29 89 91
investorrelations@tdc.dk.
TDC tickers
Reuters TDC.CO.
Bloomberg TDC DC.
For investor enquiries:
Henrik Hjortshøj-Nielsen, phone: +45 21 29 89 91
e-mail: henhjo@tdcnet.dk
Press contact:
Jonas Torp, phone: +45 20 18 70 38
e-mail: jonto@tdcnet.dk
Important Notice
This announcement is for information purposes only and is not an offer to sell or buy any securities. Any securities mentioned in this announcement may not be sold in the United States unless they are registered under the US Securities Act of 1933, as amended (the Securities Act) or are exempt from registration. Any securities described in this announcement have not been and will not be registered under the Securities Act, and accordingly any offer or sale of such securities may be made only in a transaction exempt from registration requirements of the Securities Act.
It may be unlawful to distribute this announcement in certain jurisdictions. This announcement is not for distribution, directly or indirectly, in or to the United States, Australia, Japan, Canada, New Zealand, South Africa, Hong Kong, Switzerland, Singapore or any other jurisdiction where such distribution would be unlawful or require registration or any other measures.
Attachment
