Release of 26.04.2022

Results for the 1st Quarter 2022

This press release has: 3 Documents
Key financial and operating highlights

  • Group total revenues increased by 2.7% year-on-year, driven by service revenue growth in all markets.
  • Equipment revenues decreased by 4.2%, as the market environment continued to be unchanged amidst a certain lack of high-value handset availability. A volume-driven decline in Bulgaria, Austria, and Belarus was only partly mitigated by the increase in Serbia.
  • Mobile service revenues increased by 5.5% on a Group level, due to the solid performance of the mobile core business, mobile WiFi routers, as well as further recovery of roaming results.
  • Fixed-line service revenues rose by 0.9% on a Group level, as solid growth of 9.5% in the international markets more than compensated for the decline in Austria. Continued traction of solution and connectivity business added to this, while EU IC regulation negatively weighed on revenues.
  • The number of mobile subscribers rose by 4.5%, driven by the higher number of M2M subscribers as well as the higher number of mobile WiFi routers in all markets.
  • The increase in mobile WiFi routers was also driving Internet@home higher, which grew by 4.5%.
  • Group total RGUs remained stable as the increase in broadband and TV subscribers offset the voice decline.
  • Roaming benefited results in Q1 2022 (positive impact yoy: ~ 1% of revenues; ~ 2 % of EBITDA versus ~negative 3% on EBITDA in Q1 2021) due to returning travelling across the footprint, especially in Austria.
  • Group EBITDA before restructuring charges grew by 7.9% (reported: 8.4%) driven by service revenue growth and the better equipment margin despite higher core OPEX.
    • In Austria, EBITDA before restructuring charges increased by 6.3% since higher service revenues and improved equipment margin offset higher core OPEX.
    • EBITDA in international operations increased by +8.9%. Growth throughout the footprint, with a particularly strong contribution from Belarus, Bulgaria and Serbia.
  • Net result improved by 20.0% year-on-year in the first quarter of 2022, as solid operational performance could more than compensate for higher income tax expenses.
  • Free cash flow increased in the quarter under review mainly due to the improved operational performance.
  • EUR 750 mn bond was repaid from existing cash and proceeds from bank loans on April 4, 2022.
  • Outlook 2022 confirmed: total revenue growth of close to 3%, CAPEX (ex. spectrum and acquisitions) increase of approx. 15% y-o-y. Outlook based on depreciation of BYN versus EUR of 5-10% (period average) in 2022.

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Disclaimer for forward-looking statements:
This document contains forward-looking statements. These forward-looking statements are usually accompanied by words such as "believe", "intend", "anticipate", "plan", "expect" and similar expressions. Actual events may differ materially from those anticipated in these forward-looking statements as a result of a number of factors. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results or outcomes to differ materially from those expressed in any forward-looking statement. Neither A1 Telekom Austria Group nor any other person accepts any liability for any such forward-looking statements. A1 Telekom Austria Group will not update these forward-looking statements, whether due to changed factual circumstances, changes in assumptions or expectations. This report does not constitute a recommendation or invitation to purchase or sell securities of A1 Telekom Austria Group.