Selected financial and operational data 2006-2010

Selected financial and operational data 2006-2010

TDC Group After merger with NTC¹ Before
merger with NTC¹
2010 2009 2008 2007 2006
Income Statements DKKm
Revenue 26,167 26,079 26,917 27,951 29,200
Gross profit 19,420 19,635 19,678 20,006 20,713
EBITDA 10,772 10,536 10,054 9,376 10,080
Depreciation, amortisation and impairment losses (5,356) (4,659) (4,547) (5,776) (4,815)
Operating profit (EBIT), excluding special items 5,416 5,877 5,507 3,600 5,265
Special items (1,347) (1,119) (3,212) 664 (1,128)
Operating profit (EBIT) 4,069 4,758 2,295 4,264 4,137
Profit from joint ventures and associates 13 76 200 266 449
Net financials (1,496) (2,064) (2,048) (2,763) (2,921)
Profit before income taxes 2,586 2,770 447 1,767 1,665
Income taxes (782) (809) (438) 519 (578)
Profit for the year from continuing operations 1,804 1,961 9 2,286 1,087
Profit for the year from discontinued operations² 1,203 422 548 1,346 2,358
Profit for the year 3,007 2,383 557 3,632 3,445
Attributable to:
   Owners of the Parent Company 3,007 2,424 708 3,912 3,448
   Minority interests - (41) (151) (280) (3)
Profit for the year, excluding special items
Operating profit (EBIT) 5,416 5,877 5,507 3,600 5,265
Profit from joint ventures and associates 3 (1) 222 342 439
Net financials (1,496) (2,064) (2,048) (2,763) (2,921)
Profit before income taxes 3,923 3,812 3,681 1,179 2,783
Income taxes (1,035) (1,085) (722) 321 (892)
Profit for the year from continuing operations 2,888 2,727 2,959 1,500 1,891
Profit for the year from discontinued operations² 413 575 352 198 1,594
Profit for the year 3,301 3,302 3,311 1,698 3,485
  1. The 2007-2010 figures reflect the merger of TDC and NTC (Nordic Telephone Company ApS), with TDC as the surviving company. In order to show a meaningful comparison, the 2006 figures do not reflect the merger, as TDC was not acquired by NTC until 1 February 2006. Such figures would therefore not include the operations of TDC for the full year in 2006. The 2006 figures for TDC 'before merger with NTC' represent TDC's operations on a full-year basis before the merger, i.e. excluding administrative expenses in NTC and excluding the impacts from NTC's purchase-price allocation adjustments in connection with the acquisition of TDC.
  2. The operations of the following enterprises are presented as discontinued operations for the period 2006-2010: Sunrise (divested in 2010), Invitel (divested in 2009), Talkline (divested in 2007) and TDC Directories (divested in 2006). Other divestments are included in the respective accounting items during the ownership.

TDC Group After merger with NTC¹ Before
merger with NTC¹
2010 2009 2008 2007 2006
Balance Sheets DKKbn
Total assets 64.8 86.4 100.0 106.1 79.0
Net interest-bearing debt (22.6) (33.5) (34.9) (41.5) (55.2)
Total equity 20.9 27.1 31.7 32.2 2.0
Average number of shares outstanding (million) 981.8 990.5 990.5 990.4 990.0
Statements of Cash Flow DKKm
Continuing operations:
Operating activities 7,238 7,440 5,743 5,785 n.a.
Investing activities (3,889) (4,811) 2,096 5,492 n.a.
Financing activities (20,091) (10,261) (9,506) (13,770) n.a.
Total cash flow from continuing operations (16,742) (7,632) (1,667) (2,493) n.a.
Total cash flow in discontinued operations 16,810 1,677 88 7,051 n.a.
Total cash flow 68 (5,955) (1,579) 4,558 (6,608)
Free cash flow DKKm
Operating free cash flow 7,437 6,469 6,324 5,958 n.a.
Equity free cash flow 4,515 4,426 2,424 1,995 n.a.
Capital expenditure DKKm
Capital expenditure (3,534) (3,891) (3,975) (3,979) (4,152)
Key financial ratios
Earnings Per Share (EPS) DKK 3.06 2.45 0.71 3.95 3.48
EPS from continuing operations, excl. special items DKK 2.94 2.75 2.99 1.51 1.91
Dividend payments per share DKK - 7.85 0.72 0.70 44.77
Gross profit margin % 74.2 75.3 73.1 71.6 70.9
EBITDA margin % 41.2 40.4 37.4 33.5 34.5
Capex-to-revenue ratio % 13.5 14.9 14.8 14.2 14.2
EBITDA - Capex DKKm 7,238 6,645 6,079 5,397 5,928
Cash conversion % 69.0 61.4 62.9 63.5 n.a.
Net interest-bearing debt/EBITDA x 2.1 3.2 3.0 4.0 5.4
EBITDA/interest x 6.8 6.8 4.7 2.8 3.4
RGUs (end-of-year) ('000)
Landline 1,916 2,045 2,160 2,387 2,600
Mobile 3,614 3,627 3,158 2,926 4,833
Internet 1,599 1,590 1,465 1,499 1,411
Other networks and data connections 287 291 365 298 189
TV 1,464 1,395 1,245 1,187 1,115
Total RGUs 8,880 8,948 8,393 8,297 10,148
Domestic dual-play bundles 304 213 - - -
Domestic triple-play bundles 116 86 - - -
FTEs
Number of FTEs (EoY) 10,423 11,277 11,772 13,939 15,220
Average number of FTEs (YTD) 10,860 11,519 13,020 14,531 15,709
  1. The 2007-2010 figures reflect the merger of TDC and NTC (Nordic Telephone Company ApS), with TDC as the surviving company. In order to show a meaningful comparison, the 2006 figures do not reflect the merger, as TDC was not acquired by NTC until 1 February 2006. Such figures would therefore not include the operations of TDC for the full year in 2006. The 2006 figures for TDC 'before merger with NTC' representTDC's operations on a full-year basis before the merger, i.e. excluding administrative expenses in NTC and excluding the impacts from NTC's purchase-price allocation adjustments in connection with the acquisition of TDC.

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