TDC maintains its 2012 guidance and changes top management

TDC’s revenue increased by 0.5% to DKK 13.2bn in H1 2012 compared with H1 2011 while EBITDA bpi decreased by 0.7% to DKK 5.1bn in line with the expectations. This is shown in TDC’s Financial Statements for the first half of 2012 published today.

"Despite challenging market conditions, in H1 2012 we recorded the highest intake of broadband customers for many years and our results were satisfactory. Our Nordic activities presented double-digit growth rates driven by TDC Sweden and TDC Hosting during the same period," says Carsten Dilling, TDC’s President and CEO.

The Financial Statements reveal improvements in the mobile area as the Group attracted 43,000 new subscribers in Q2. Therefore despite a clean out of subscriptions with little or no ARPU, a net increase of 23,000 was achieved in the subscriber base for the quarter. In addition, in the residential segment ARPU stabilised following some quarters with downward pressure.

Carsten Dilling also highlights YouSee's results:

"YouSee delivered double-digit EBITDA growth and maintained its very strong position. In a saturated market, YouSee also boosted its broadband base by 19,000 customers compared with the same period last year."

Within TV, YouSee and TDC Consumer continued to generate growth as overall, the Group attracted 72,000 more TV customers than in H1 2011.

In connection with the interim report, TDC also presents the following changes in the Corporate Management Team:

• Anders Jensen, Senior Executive Vice President, President of TDC Consumer, has been appointed Group Chief Marketing Officer (CMO) with overall responsibility for coordinating the Group's various brands.

• Martin Lippert, formerly Senior Executive Vice President and President of TDC Business, has been appointed Group Chief Operating Officer (COO) and Senior Executive Vice President and President of Operations. As was previously the case with Carsten Dilling in TDC Operations, Martin Lippert will therefore be responsible for TDC’s cross-organisational change initiatives, which involve further strengthening the customer-centric processes.

• Eva Berneke has been appointed Senior Executive Vice President and President of TDC Business and will leave TDC Wholesale.

• Jens Munch-Hansen, who has been responsible for TDC Nordic to date, will in future take up the position as Senior Executive Vice President and President of TDC Wholesale as well as TDC Nordic.

• To strengthen links with the Group's stakeholders, People & Culture and Stakeholder Relations are merging under Miriam Igelsø Hvidt, Senior Executive Vice President. Inger Ørum Kirk, who until now has been Senior Executive Vice President for People & Culture, has decided to leave the Company.

• In addition, the Corporate Management Team will comprise Pernille Erenbjerg, Senior Executive Vice President and Chief Financial Officer, and Niels Breining, Senior Executive Vice President and Chief Executive Officer of YouSee.

"As President and CEO of TDC, I wish the top management to achieve a clear focus. The current team represents continuity and has the strength to ensure that TDC continues to deliver a solid performance for our customers and shareholders in future," says Carsten Dilling.

TDC affirms its guidance for 2012: Revenue of DKK 26.0-26.5bn and EBITDA bpi of DKK 10.3-10.5bn. As announced earlier, on August 14 TDC’s shareholders will receive dividend of DKK 2.3 per share equalling half the expected dividend of DKK 4.6 per share for 2012.