Higlights:
Group revenue increased by DKK 330m to DKK 35,939m compared with 2008
During 2009 the quarter-over-quarter revenue decline in Nordic Business improved in each quarter, and revenue development in 4Q 2009 was stable compared with 4Q 2008. The stabilisation of revenue in Nordic Business marks an important milestone for TDC. Revenue for the full year 2009 in Nordic Business declined by DKK 839m or 3.1%, as a result of disposals, outsourcing, a negative foreign exchange impact, price regulation and adverse macroeconomic environment. Furthermore, revenue was negatively affected by lower domestic landline telephony in both the residential and business segments. This was partly offset by the acquisitions of Fullrate and A+, and significant growth in the TV business, as well as more domestic mobile voice and mobile broadband customers. Adjusted for the impacts from disposals, acquisitions, outsourcing and currency, revenue in Nordic Business declined by approximately DKK 331m or 1%.
Revenue in Sunrise increased by DKK 1,161m or 13.3% compared with 2008, as a result of increased revenue from the landline wholesale segment and more prepaid and postpaid mobile voice customers. Revenue was also positively affected by the acquisition of Tele2 in November 2008 and a favourable currency impact, which was in turn, counteracted by the divestment of SBC in July 2008. Adjusted for the impacts from disposals, acquisitions and currency, revenue in Sunrise rose by approximately DKK 292m or 3%.
Gross profit increased by 2.4%. Nordic Business’ gross profit declined by only 0.2% despite the revenue decline, whereas gross profit in Sunrise increased by 12.0%.
Despite the challenging macroeconomic environment, Income before depreciation, amortisation and special items (EBITDA) rose by 6.9% to DKK 13,046m, leading to an improvement in the Group EBITDA margin of 2 percentage points to 36.3% in 2009. Adjusted for acquisitions and disposals, currency effects and a non-recurring compensation from Swisscom in 2008, EBITDA in the TDC Group increased by 6%.
In Nordic Business, EBITDA grew by 5.0% to DKK 10,535m in 2009, leading to a strong EBITDA margin of 40.4%. The growth in Nordic Business’s EBITDA resulted from cost reductions across all business lines.
The 16.9% growth in Sunrise’s EBITDA during 2009 was driven by organic growth in the residential mobile business, the acquisition of Tele2 and a favourable currency impact. This was partly offset by a one-time compensation from Swisscom in 2008 regarding excessive landline termination charges.
All figures in these financial statements, including comparative figures for previous periods, reflect the merger between TDC and NTC.
D.C.