TDC: Interim Financial Report Q2 2021

TDC: Interim Financial Report Q2 2021
  • Continued improvements of commercial and financial performance in TDC Group resulted in EBITDA growth of 0.8% in Q2. We expect to deliver on our guidance of stable to slightly declining EBITDA?
      • Revenue for TDC Group increased by 1.3% in Q2 mainly driven by improvements in mobility services and other services?
      • Significant bettering in gross profit development from -6.1% in Q1 to -1.6% in Q2 from mobility services and TV?
      • TDC Group’s operating expenses was reduced by 4.8% YoY in Q2, as expected a more stable development than last quarter’s double-digit decrease?
  • Capex decreased by 13.7% YoY, driven by the completion of the mobile network 5G-swap last year?
  • TDC Group announced that the separation of the company will be finalised by end of 2021, establishing TDC A/S as a holding company with Nuuday A/S and TDC NET A/S operating as stand-alone companies
  • TDC NET’s EBITDA totalled DKK 1,121m, up by 2.5% compared with the 2020 level?
      • Gross profit decline of -1.1% YoY driven by reduced activity in legacy TV. Internet & Network showed a stable development as growth from high-speed (fibre & coax) offerings counterbalanced declining low-speed (copper) offerings?
      • Operating expenses improved by 8.8% YoY following continued optimisation across cost categories?
  • Capital expenses of DKK 812m in Q2, down by 17.1% YoY following the large mobile investments in 2020?
  • Nuuday EBITDA declined by 3.4% in Q2 YoY, however, EBITDA increased 4.4% compared with Q1 2021. The fewer RGUs in our mature services segment were almost offset by the increasing customer base for our growth services further supporting the continued commercial stabilisation of the business ?
      • Nuuday’s revenue increased by 0.5% YoY in Q2 driven by mobility services and terminal sales. Nuuday maintained its position as market leader across all core products with small changes in market shares, prompted by positive trends in YouTv, Eesy and TDC Business mobile net adds?
      • Gross profit declined by 4.2% YoY in Q2, though it showed a positive development compared with Q1 2021. The Q2 YoY development was driven by the mature services segment?
      • In Q2, Nuuday reduced operating expenses by 4.6% YoY driven by reductions in personnel expenses along with savings on facility, IT and consultancy services ?
  • Capex declined by 9.7% in Q2 YoY, due to a higher degree of refurbishment of modems, fewer TV set-top box replacements, and lower IT investments?
  • Jon James has been appointed the new CEO of Nuuday to succeed Michael Moyell Juul. Jon James has over 20 years of experience from the telecom and media industry and has been part of successfully transforming several large and medium-sized companies ?

Conference call details

A conference call will be held on 13 August 2021 at 14:30 CET.

Presentation material will be available prior to the conference call on

Dial-in details: +45 32 72 51 67 - Meeting ID: 135 439 061#


For investor enquiries: +45 66 63 76 80
For media enquiries: +45 70 20 35 10

This notification is made by Klaus Rose, Senior Treasury Analyst at TDC A/S.

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