Tele Columbus (TC1) Q1 2026 earnings summary

Executive summary

• EBITDA rose 33% year-over-year in Q1 2026 to EUR 43.2 million, driven by efficiency measures, cost discipline, and transformation initiatives.

• Revenue remained stable at EUR 105.5 million (+0.6% YoY), with internet and telephony growth offsetting TV and business segment declines.

• Internet customer base grew 5.3% year-over-year to 746,000 RGUs, confirming a growth trend outpacing competitors.

• Wholesale agreement with 1&1 finalized, with economic impact expected from Q1 2027.

• Strategic focus on high-value customers, profitable growth, and ongoing cost discipline.

Financial highlights

• Q1 2026 revenue was EUR 105.5 million, up 0.6% year-over-year, mainly driven by internet, telephony, and B2B growth.

• Reported EBITDA increased 33% to EUR 43.2 million; normalized EBITDA at EUR 44.2 million (+13% YoY).

• CapEx dropped nearly 50% year-over-year to EUR 18 million, reflecting selective network investment.

• Cash and cash equivalents stood at EUR 61.6 million at quarter-end.

• Operating cash flow increased to EUR 28.4 million.

Outlook and guidance

• For FY 2026, normalized EBITDA expected to improve by high single-digit to low double-digit EUR million; reported EBITDA to grow by low to mid-double-digit EUR million.

• Full-year 2026 revenue expected to decline in the low double-digit million range due to a planned equity investment sale.

• CapEx will remain lower than the previous year, focusing on fiber and HFC infrastructure expansion.

• Guidance does not yet reflect the deconsolidation of MDCC, which would reduce EBITDA by EUR 14 million upon closing in Q2.

• RGU base for internet retail and wholesale expected to increase by 26,000 for the year, with strongest growth in Q4.