DGAP-Ad-hoc: Tele Columbus AG / Key word(s): Change in Forecast/Forecast
DISCLOSURE OF AN INSIDER INFORMATION ACCORDING TO ARTICLE 17 MAR
Tele Columbus AG updates its guidance for the financial year 2021 and starts implementing its Fibre Champion strategy
Berlin, 25 August 2021. The management board of Tele Columbus AG (ISIN: DE000TCAG172, WKN: TCAG17) today adjusted its guidance for the financial year 2021.
Following the successful completion of the subscription rights issue in the amount of approximately EUR 475 million in May 2021 and the subsequent deleveraging in the amount of EUR 360 million, Tele Columbus AG ("Company") has more than EUR 100 million of funds available for investments into its Fiber Champion strategy. As previously communicated, the implementation of the Fibre Champion strategy is expected to require network-related investments of up EUR 2 billion over a ten-year period.
On the basis of the improved capitalization of the Company and discussions with the Company's newly elected supervisory board in relation to the launch of the Fibre Champion strategy, the management board presented a revised budget for financial year 2021 to the supervisory board today, which was approved by the supervisory board on the same day. As a result, the Company's management board will now accelerate investments into fibre network upgrades and the business starting immediately.
As a result, the management board updates its outlook for the financial year 2021as follows:
- Total revenues of EUR 465 - 475 million
- Reported EBITDA of EUR 190 - 200 million
- Capex of EUR 185 - 195 million
The mid-term outlook will be updated at a later stage once the mid-term plan of the Company has been agreed with the supervisory board.
Tele Columbus AG is one of Germany's leading fibre network operators which reaches more than 3 million homes. Via its brand PŸUR, the Company, offers high-speed internet including telephony and more than 250 TV channels. All of this via a digital entertainment platform that combines linear TV with video on demand entertainment. To its housing association partners the Tele Columbus Group offers tailored 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, the Company is actively supporting the fibre-based infrastructure and broadband internet expansion in Germany. For its business customers the Group offers carrier services and corporate solutions on its proprietary 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 listed on the regulated market (Prime Standard) of the Frankfurt Stock exchange.
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.
Senior Director Investor Relations
Phone +49 (30) 3388 1781
Fax +49 (30) 3388 9 1999
25-Aug-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Company:||Tele Columbus AG|
|Phone:||+49 (0)30 3388 1781|
|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|
|EQS News ID:||1228933|
|End of Announcement||DGAP News Service|
1228933 25-Aug-2021 CET/CEST