TDC says there are positive signs within the group’s Danish business after it recorded its highest gross profit since 2011.
Despite heavy competition gross profit in the Danish mobile business increased for the second consecutive quarter. The group’s total revenue improved and increased 0.7% relative to the previous year.
“The results are satisfactory, which confirms that we are on the right track in our efforts to stabilise the business in 2017. All key financial ratios are showing improvement,” says Pernille Erenbjerg, Group CEO and President of TDC Group.
Revenue for the entire TDC Group totalled DKK 5.2bn, up 0.7% on the same period the previous year. Earnings (EBITDA) declined 0.9% to DKK 2.1bn.
However, while revenues were at a high the number of Danish mobile and TV customers declined by 4,000 and 22,000 since the end of 2016.
“There are several positive signs in the financial statements, but I am particularly pleased that we are now seeing signs of improvement in the otherwise very challenging Danish market, customer satisfaction is increasing, and Get continues to deliver high growth rates in Norway,” says Erenbjerg.
The company said the losses compared favourably with previous quarters and reflected a general market decline.
A large MDU was also lost with 8,000 subs being accounted for in the second quarter of 2017.