Results for Q4 2023 and for the full year 2023

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:
https://a1.group/investor-relations/results-center/
 

For more information, visit the website: https://a1.group/investor-relations/

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