Nuuday posts mixed results for Q1

Danish cable operator and telco Nuuday said its EBITDA grew by 3.7% year-on-year in the first quarter, continuing an upward trend in Q4. Operationally, the company posted mixed results.

Nuuday grew its overall mobile base by 9,000 subscribers, driven by the business segment, but with a minor loss in the consumer segment.

Nuuday’s broadband base however fell by 3,000 subscribers. On the positive side the company said it grew its fibre-based broadband subscriber base by 23,000 quarter-on-quarter, and  Hiper, Nuuday’s challenger brand in the high-speed broadband market, passed a milestone at the start of the year, reaching 100,000 customers.

Nuuday did not break out TV numbers in its note on the quarter.

Service revenue was essentially flat in the first quarter, up 0.1% year-on-year to DKK 3,336m.

Underlying EBITDA grew 3.7% YoY to DKK450 million, while underlying OPEX fell by 2.3%. Underlying CAPEX fell by 13.5% compared to last year, primarily due to lower investments in legacy IT systems. Nuuday said that 2023 is the year when its transformation investments peak, and overall reported CAPEX grew by 6.3% compared to last year.

On the TV side, Nuuday’s Telmore launched an updated version of Telmore Play in March, so that customers can now get four streaming services of their choice. Nuuday in March sold the Danish market leader in TVOD – Blockbuster – to SF Anytime.

“I am very pleased with our Q1 results and am particularly proud of the dedicated work our people are doing to complete our transformation. The new year has started well with growth in our key strategic areas, great progress with our IT transformation and improvements in our underlying financial results. We look forward to introducing the new Nuuday, which will open up a whole new world of possibilities, whether it’s great products or great customer experiences,” says Nuuday CEO, Jon James.