Telekom announced the main performance indicators for the fourth quarter of 2019, ended on the 31st of December 2019.
For the full year 2019 all major financial indicators – Revenue, EBITDA and adjusted Free Cash Flow (FCF) showed a year-on-year growth for the first time in four years. In 2019 the consolidated revenues of Telekom Romania increased by 5%, to 980 mil. EUR.
At the same time, adjusted EBITDA before IFRS16 increased by 5% to 144 mil. EUR, thus growing for four quarters in a row. Adjusted Free Cash Flow, corrected for one-off historical payments to OTE Group, also registered relevant growth of over 55 mil. EUR in 2019, becoming positive for the first time in three years.
Fixed revenues increased by 11% to 479 mil. EUR in 2019, supported by strong growth in the ICT segment, exceeding 110%, as well as that of wholesale services with more than 20%. At the same time, broadband & TV services registered a slight growth in revenues of more than 2%. FMC revenues have grown yoy with approximately 30%.
Additionally, the newly launched product Smart WIFI generated high demand.
In mobile revenues, Telekom had 4 consecutive quarters of growth in 2019 reflected in the overall yearly growth, significantly driven by large ICT transactions in Q4.