Release of 24.10.2017
Key financial and operating highlights third quarter 2017
- Outlook revised: Group revenues 2017 estimated to increase by approx. 3% (previously ~1%, on a reported basis), CAPEX expected at approx. EUR 745 mn in 2017 (previously ~EUR 725 mn).
- Reported net result increased by 3.4% in the third quarter of 2017 to EUR 148.1 mn.
- Group total revenues rose by 2.3% while EBITDA declined by 2.6% on a proforma basis year-on-year due to one-off effects and changes in restructuring charges.
- Excluding one-off and FX effects as well as restructuring charges, proforma revenues and EBITDA rose by 1.9% and 1.6% y-o-y.
- Positive one-off effect in Bulgaria of EUR 5.8 mn in OOI in Q3 2017, resulting from a legal settlement.
- Positive one-off effect in Austria of EUR 14.4 mn in Q3 2016 stemming from the reversal of an accrual for copyrights.
- Restructuring charges in Austria: positive EUR 13.3 mn in Q3 2017 due to a revaluation, compared to a positive EUR 20.4 mn effect in Q3 2016.
- Negative FX effects in Q3 2017: EUR 1.1 mn in revenues; EUR 1.3 mn in EBITDA.
- Operationally, revenues driven by higher equipment revenues and continuing increase in service revenues in all markets except for Slovenia and Macedonia. EBITDA growth in all CEE markets (ex Slovenia).
- Austria: Retail fixed-line revenues back to growth while mobile service revenues declined due to roaming and prepaid.
- Negative roaming effect estimated for FY 2017 at approx. 1.5% to 2.0% of Group EBITDA after high usage elasticity in Q3 2017 and higher than expected visitor roaming revenues on a Group level.
- Free cash flow grew by 133.6% in the third quarter 2017 to EUR 184.2 mn due to higher cash flow from operations, lower interest paid and lower capital expenditures paid.
| Key performance indicators - Proforma view - in EUR million | Q3 2017 reported | Q3 2016 proforma | % change | 1-9 M 2017 reported | 1-9 M 2016 proforma | % change |
|---|
| Total revenues |
1,110.7 |
1,085.3 |
2.3 |
3,252.5 |
3,144.0 |
3.5 |
| EBITDA |
410.1 |
421.0 |
-2.6 |
1,109.0 |
1,091.7 |
1.6 |
| % total revenues |
36.9% |
38.8% |
|
34.1% |
34.7% |
|
| EBIT |
191.1 |
206.4 |
-7.4 |
464.0 |
442.2 |
4.9 |
| % total revenues |
17.2% |
19.0% |
|
14.3% |
14.1% |
|
| Wireless indicators | Q3 2017 reported | Q3 2016 proforma | % change | 1-9 M 2017 reported | 1-9 M 2016 proforma | % change |
|---|
| Wireless subscribers (thousands) |
20,828.1 |
20,731.7 |
0.5 |
20,828.1 |
20,731.7 |
0.5 |
| thereof postpaid |
15,364.3 |
14,912.8 |
3.0 |
15,364.3 |
14,912.8 |
3.0 |
| thereof prepaid |
5,463.7 |
5,819.0 |
-6.1 |
5,463.7 |
5,819.0 |
-6.1 |
| MoU (per Ø subscriber) |
307.3 |
303.5 |
1.3 |
305.6 |
303.7 |
0.6 |
| ARPU (EUR) |
8.9 |
9.0 |
-1.5 |
8.7 |
8.7 |
-0.3 |
| Churn (%) |
2.0% |
1.9% |
|
2.0% |
1.9% |
|
| Wireline indicators | Q3 2017 reported | Q3 2016 proforma | % change | 1-9 M 2017 reported | 1-9 M 2016 proforma | % change |
|---|
| RGUs (thousands) |
6,014.9 |
6,051.5 |
-0.6 |
6,014.9 |
6,051.5 |
-0.6 |
All financial figures are based on IFRS; if not stated otherwise, all comparisons are given year-on-year. EBITDA is defined as net income excluding financial result, income taxes, depreciation and amortisation and impairment charges.