In line with its full-year guidance, in the financial statements for 2015, the TDC Group is reporting revenue of DKK 24.4bn and earnings (EBITDA) before tax, depreciation, amortisation and interest of DKK 9.8bn. As announced at last week's Capital Markets Day, the outlook for 2016 is, among other things, impacted by a consistently strong pressure on the Danish business, which means that the expected additional dividend for 2015 will, unfortunately, not be distributed. Over the next three years, a new strategy will create a simpler and better TDC, for the benefit of all.
As already announced at the company's Capital Markets Day on 27 January, the TDC Group is delivering a 4.4% increase in revenue for 2015 relative to 2014, with EBITDA on a par with the previous year. Adjusted for the acquisi-tion and divestment of enterprises, forex developments and impacts from regulation, the TDC Group's revenue fell by 1.9%, with earnings (EBITDA) similarly down 6.9%.
We succeeded in meeting our financial targets for 2015, but we must re-grettably cancel the distribution of any more dividend for 2015 due to the deteriorating outlook for 2016. This is a disappointing message for our shareholders, but the Danish business is under considerable pressure, ex-plains Group CEO and President Pernille Erenbjerg, before continuing:
I'm confident that our new strategy for the period up until 2018 will ensure that, based on better connections, we will be able to supply better solu-tions, supported by improved customer experiences. At the same time, we will make TDC simpler and better for customers, she asserts.
Focus on rural districts
In 2015, the TDC Group launched its so-called rural area initiative, which will bring fast broadband to the small towns and villages around Denmark.
Under the new initiative, fast broadband connections can be established without any extraordinary costs for residents subject to at least 50 house-holds signing up.
With the rural area initiative, we announce our readiness to provide these upgrades as an important part of our strategy of creating better connec-tions and the best network in the country for the benefit of all citizens, businesses and the public sector in Denmark, concludes Pernille Erenbjerg.
Significant activities for the TDC Group in 2015
Strong pressure on the Danish business, with a 10.5% decline in EBITDA driven by strong pressure on prices for both TDC Consumer and TDC Busi-ness
Continued growth for Get, posting 10% growth in EBITDA
Sound trends in TDC Sweden in 2015 as well as solid underlying growth in EBITDA
The TDC Group's mobile network in Denmark is now superior to those of our competitors on all parameters, leading to an increase in customer loyal-ty
Increase in customer service availability to significantly higher levels
Employee satisfaction is increasing after a falling trend in recent years and is now higher than for similar large Danish companies
Impairments for accounting purposes in Denmark of DKK 4.6bn as a result of developments in TDC Business, in particular.
Facts about the TDC Group's strategy Always simpler and better
Better connections
Offer of 10 Mbps to virtually all addresses in Denmark, and 100 Mbps to 70% of all households by the end of 2018. Furthermore, upgrad-ing of the cable network will ensure speeds of 1 Gbps being offered to half of all Danish households before the end of 2017.
Denmark's best network. Measurements of the mobile network car-ried out by the Danish Technological Institute show that the compa-ny offers the best call quality, streaming quality, as well as upload and download times.
Better solutions
In Norway, Get will be launching Get Mobil in the near future, sup-plemented by the increased availability of superfast broadband for the benefit of even more customers.
The two family brands YouSee and TDC will be merged to establish a new, strong value brand in the Danish residential segment, bringing together the best from both brands for Danish families. It has been decided that YouSee will be the brand name of this new offer to cus-tomers.
TDC Business will deliver simpler and better solutions for customers. This development will be driven by a simplification of our own busi-ness, thereby ensuring faster product development and less com-plexity for customers.
In Denmark, there will be more focus on SMEs with plans for TDC Business to offer a broad set of new solutions as a supplement to mobile and broadband.
Better customer experience
Service levels will be increased to improve customer experience
Increased digitisation of the interface with customers means more online self-service solutions via apps and web
In the coming period, premium YouSee and TDC residential and business customers will be given access to 24/7 customer service.
Simpler and digital business model
Simplification of IT systems, processes and procedures based on customer needs
Complexity will be reduced for customers, internal costs will be re-duced, and all in all the TDC Group expects to cut costs by DKK 6-700m in the period up until 2018
It will be easier for the employees to do a great job.
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In line with its full-year guidance, in the financial statements for 2015, the TDC Group is reporting revenue of DKK 24.4bn and earnings (EBITDA) before tax, depreciation, amortisation and interest of DKK 9.8bn. As announced at last week's Capital Markets Day, the outlook for 2016 is, among other things, impacted by a consistently strong pressure on the Danish business, which means that the expected additional dividend for 2015 will, unfortunately, not be distributed. Over the next three years, a new strategy will create a simpler and better TDC, for the benefit of all.
