Tele Columbus AG / Key word(s): Profit Warning/Half Year Results
DISCLOSURE OF AN INSIDER INFORMATION ACCORDING TO ARTICLE 17 MAR
TELE COLUMBUS AG ADJUSTS GUIDANCE FOR THE FINANCIAL YEAR 2018
Berlin, 28 August 2018.
The management board of Tele Columbus AG (ISIN: DE000TCAG172, WKN: TCAG17) today adjusted its guidance for the FY 2018.
As planned, the Pepcom customer migration was completed successfully at the end of June 2018. In the past weeks the Company has been driving the integration of the Group's accounting platforms into a single ERP system. This part of the overall integration will be completed by the beginning of September 2018.
Due to the finalization of the overall integration project in combination with marketing activities starting in October 2018 the new management board expects a higher recurring cost base and revenue growth delayed. Based on net sales of EUR 240 million and a Normalized EBITDA of EUR 118 million for the first half of 2018, the new management board has therefore decided today to adjust its FY 2018 outlook as follows:
- Stable homes connected
- Stable revenues year on year
- Normalised EBITDA of at least EUR 235 million
- Maximum capex of EUR 150 million
The Normalised EBITDA target includes a significant ramp-up of marketing spend in the second half of 2018. Furthermore, the management board expects significantly reduced non-recurring costs year on year in the second half of 2018 translating into a largely stable year on year development of the Reported EBITDA for FY2018.
The management board will publish the financial results for the first half year 2018 latest by 31 August 2018. The management board will provide an update on the growth path for the company early 2019.
The SDAX-listed Tele Columbus AG serves 3.6 million homes connected thereby being Germany's third-largest cable network operator. Its brand PŸUR stands for simplicity, performance and fairness in relation to TV and telecommunication products. Via its state-of-the-art fibre network PŸUR offers high-speed broadband internet including fixed-line telephony as well as more than 250 TV channels on a digital entertainment platform which combines linear TV with streaming services. To its housing association partners PŸUR offers flexible models of cooperation and state-of-the-art services such as telemetric and tenant portals. As a full-service partner for municipalities and regional utilities Tele Columbus Group is actively supporting the fibre-based broadband internet expansion in Germany. For its business customers the Group offers carrier services and corporate solutions via its fibre network. Besides its headquarter in Berlin the Company has locations in Hamburg, Leipzig, Ratingen and Unterföhring/Munich. Since January 2015 Tele Columbus AG is traded on the regulated market (Prime Standard) of the Frankfurt Stock exchange and since June 2015 listed in the SDAX.
This release may contain forward-looking statements. These statements reflect the Company's current knowledge and expectations and projections about future events. By their nature, forward-looking statements involve a number of risks, uncertainties, assumptions and other factors that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. Such risks, uncertainties and assumptions may cause our actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. In light of these risks and uncertainties, the forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially from those anticipated or implied in the forward-looking statements. Accordingly, investors are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this document.
This release contains references to certain non-GAAP financial measures, such as Normalized EBITDA and Capex, and operating measures, such as RGUs, ARPU, and Unique Subscribers calculations. These non-GAAP financial and operating measures should not be viewed in isolation as alternatives to measures of the Company's financial condition, results of operations or cash flows as presented in accordance with IFRS. The non-GAAP financial and operating measures used by the Company may differ from, and not be comparable to, similarly titled measures used by other companies.
All information contained in this release has been carefully prepared. However, no reliance may be placed for any purposes whatsoever on the information contained in this document or on its completeness. No representation or warranty, express or implied, is given by or on behalf of the Company or any of its directors, officers or employees or any other person as to the accuracy or completeness of the information or opinions contained in this document and no liability whatsoever is accepted by the Company or any of its directors, officers or employees nor any other person for any loss howsoever arising, directly or indirectly, from any use of such information or opinions or otherwise arising in connection therewith. The Company does not undertake any obligation to update or revise any information contained in this release, including forward-looking statements, whether as a result of new information, future events or otherwise.
Director Corporate Communications
Phone +49 (30) 3388 4177
Fax +49 (30) 3388 9 1999
|Company:||Tele Columbus AG|
|Phone:||+49 (0)30 3388 4177|
|Fax:||+49 (0)30 3388 9 1999|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|End of Announcement||DGAP News Service|