A1 Group announces results for Q4 2023 and for the full year 2023.

Relevant documentation on the results can be found at the following link:

 

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Highlights Q4 and full year 2023

• FY 2023:
  • 4.9% total revenue growth, driven by service revenue growth in all markets on CCY
  • 4.7% EBITDA growth; EBITDA adjusted grew by 5.1% as negative FX effects and higher restructuring costs levelled out with positive one-offs
  • Net result increased by 1.8 % to EUR 646 mn
  • Net debt ex leases/EBITDAaL stood at 0.4x at year-end 2023, net debt/EBITDA at 1.3x
  • CAPEX increased by 16 % to EUR 1.093 mn due to investments in spectrum (EUR 133 mn)
  • Free cash flow of EUR 354 mn in FY 2023 (EUR 603 mn in 2022)
  • Mobile subscriber growth of 5.6% y-o-y, RGU increase of 1.1% y-o-y

• Q4 2023: Total revenues +2.3% (+5.1% in CCY), EBITDA before restructuring, one-offs and FX up +7.3% (reported: +11.4%)
• Bulgaria acquired spectrum in 700 Mhz and 800 Mhz frequency bands in Q4 2023
• Credit rating upgrade in December 2023: A1 Group upgraded by Moody’s from Baa1 to A3, outlook stable
• Top ESG ratings: Sustainalytics’ 2024 ESG Top-Rated Companies List and CDP’s A list in 2024
• Dividend proposal for FY 2023: Increase of 13% to EUR 0.36 per share (2022: EUR 0.32)
• Outlook 2024: Total revenue growth of 3-4% y-o-y, CAPEX excl. spectrum of EUR 800 mn
• Ambitions 2024-2026:
  • Revenue growth of 3-4% per year
  • EBITDA growth of 4-5% per year
  • CAPEX of EUR 2.8 bn plus frequencies