Tele Columbus (TC1) Q1 2026 earnings summary

Executive summary

• Upgraded two-way own network footprint expanded to 2.4 million households, with fiberization rate rising to 26% of footprint covered by FTTH/FTTP, up 2% year-on-year; footprint increased by 21.5k homes quarter-over-quarter.

• Strategic focus on high-value customers, profitable growth, and ongoing cost discipline, with selective asset disposals and restructuring measures reducing personnel costs.

• Wholesale agreement with 1&1 finalized, expected to impact results from Q1 2027, enabling access to 1.2 million additional households.

• Internet customer base grew 5.3% year-on-year to 746,000 RGUs, with quarterly net adds of 4,000 in Q1 2026; 45% of gross adds were for products ≥500 Mbit/s, and over 80% chose ≥250 Mbit bandwidth.

• Price increases implemented with churn in line with plan; 3P bundle share was 29%.

Financial highlights

• Revenue grew 0.6% year-on-year to EUR 105.5 million in Q1 2026, mainly driven by internet, telephony, and B2B growth.

• Normalized EBITDA increased by 13% quarter-on-quarter to EUR 44.2 million; reported EBITDA up 33% year-on-year to EUR 43.2 million, reflecting transformation project costs and cost savings.

• CapEx (excluding leasing) decreased by 49.8% year-on-year to EUR 18 million, reflecting selective network investment and CPE refurbishment.

• 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.

• 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.

• Measures implemented to reaccelerate 3P bundle growth, including new incentive schemes.

• Focus remains on sustaining growth in core internet and telephony business and advancing targeted fiber roll-out.