Nuuday sees modest uplift from strong fibre and mobile growth

Source: Nuuday

Danish service provider Nuuday saw a modest uplift in service revenue and underlying EBITDA in the final quarter of the year, although reported EBITDA was significantly down.

The telco and cable company reported service revenue of DKK3.363 billion, up from DKK3.336 billion for the prior year, while underlying EBITDA rose from KDD450 million to DKK457 million.

Fixed broadband RGUs declined by 7,000 to one million, while mobile RGUs rose from 3.28 million to 3.296 million.

During the first quarter, Nuuday added 16,000 new mobile subs, which it said was almost equivalent to net growth for the whole of 2023.

In fixed, Nuuday operating units YouSee, Hiper and TDC Erhverv gained a combined 15,000 new fibre customers, while YouSee went live on Global Connect’s fiber network, giving an additional 76,000 households possible access to YouSee’s products.

However, fixed broadband as a whole experienced a drop of 7,000 subscribers in Q1 as a result of fewer customers on HFC cable and copper.

Service revenue increased in Q1 by 0.8% compared to the previous year from DKK3.336 billion (US$485 million). to DKK3.363 billion, while underlying EBITDA rose 1.6% YoY – or DKK7 million – to DKK 457million.

Nuuday said that growth in underlying cash flow, up 26.6% year on year, underscored its progress towards becoming a sustainably profitable business.

“I am pleased to be able to present a strong start to 2024 with strong growth within mobile and fibre, as well as continued improvements to our customer offer, including the ninth year in a row where we have Denmark’s best mobile network. This, combined with our successful technology transformation, is helping to drive continued growth in service revenue and our underlying financial results,” said Jon James, Nuuday CEO.