Release of 14.07.2020

Results for the Second Quarter and First Half 2020

Analyst FS Q2 2020
Analyst FS Q2 2020

This press release has: 3 Documents
  • Group total revenues decreased by 2.4%, due to lower equipment revenues and roaming losses as well as lower other operating income, following a real estate sale in Austria in the compari-son period. Additionally, revenues were also impacted by negative FX effects stemming mainly from Belarus and to a lower extent from Croatia. Excluding FX and one-off effects, total reve-nues remained stable (-0.2%).
    • Mobile service revenues declined by 1.1% on a Group level as the growth in Austria, Bulgaria and Serbia was outweighed by roaming losses and negative FX effects
    • Fixed-line service revenues increased slightly by 0.4% as the growth in Bulgaria and Slove-nia  made up for the decline in Austria and other international markets
  • Mobile contract subscribers rose by 3.7% with growth in almost all markets
  • Fixed-line RGUs decreased by 1.2%, as the growth in high-bandwidth broadband and TV RGUs could not compensate for the decline of low-bandwidth broadband and fixed voice RGUs in Austria
  • Group EBITDA before restructuring charges increased by 0.5% (reported: -0.5%) as roaming losses were more than outweighed by cost savings. Excluding one-off and FX effects as well as restructuring charges, Group EBITDA increased by 3.9%.
    • In Austria EBITDA before restructuring charges increased by 0.4% (reported: -1.3%) as mobile service revenues were able to grow despite the roaming losses, additionally supported by OPEX savings. Excluding a one-off effect in the comparison period, EBITDA before restructuring grew by 3.7%.
    • EBITDA in the international operations declined by 0.9%, mainly due to negative FX effects in Belarus and roaming losses in Croatia, while Bulgarian segment showed again a strong growth
  • Net result increased by 62.7% compared to the previous year, both periods being significantly impacted by decided tax cases in Bulgaria
  • Q2 2020 showed a particularly strong free cash flow generation of EUR 158.8 mn (Q2 2019: EUR 34.2 mn), due to lower capital expenditures paid and better working capital trends in the reporting period, while Q2 2019 was impacted by paid frequencies for spectrum auctions.
  • Outlook 2020: ~2% decline of total revenues, mainly driven by negative impacts from roaming and FX as well as lower equipment revenues; Capex cuts of ~25% compared to the initial out-look (EUR 770 mn capital expenditures before spectrum and acquisitions) to ensure flexibility and to strengthen the free cash flow profile

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.
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