Strong earnings and cash-flow performance

Strong earnings and cash-flow performance TDC’s EBITDA increased by 7.3% to DKK 9.7bn, and revenue rose by 0.5% to DKK 26.8bn in the first three quarters of the year, as published today in TDC’s Interim Financial Statements January – September. “The figures show that TDC can achieve solid results and expand its position in a difficult market that is negatively impacted by the financial crisis. I am also very pleased that our total customer base is growing and that we have delivered impressive earnings growth and a very strong cash flow,” says Hen-rik Poulsen, TDC’s President and CEO. TDC’s total customer base grew by 7.4% to 11.4m customers and its domes-tic customer base grew to 8.5m, up by 3.4%, reflecting an influx of mobile, TV and mobile-broadband customers. TDC’s Swiss subsidiary, Sunrise, is continuing its strong development with revenue of DKK 7.3bn in 1Q-3Q 2009, up by 15.1%, and EBITDA of DKK 1.8bn, up by 19.3%. Revenue and EBITDA growth? both related to organic growth in mobile operations, the acquisition of Tele2 and a favorable ex-change-rate development. “The positive development in Sunrise is due to a lot of hard work, and we are very satisfied to see our efforts translating into very concrete results,” says Henrik Poulsen. Cash flow from operating activities grew by DKK 2.2bn or 37.5% compared with 1-3Q 2008. TDC’s net interest-bearing debt totaled DKK 28.6bn at the end of 3Q 2009 as opposed to DKK 40.5bn at the end of 3Q 2008. The Outlook for 2009 remains unchanged. TDC’s revenue and net income from continuing operations excluding special items are expected to be level with 2008. Link: Read the entire release here. Key financial data DKK millio-n 1.-3. Q 2009 1.-3. Q 2008 Change in % Revenue 26,846 26,717 0.5 EBITDA 9,726 9,067 7.3 EBITDA margin in % 36.2 33.9 -