Tele Columbus (TC1) Q2 2026 earnings summary

Executive summary

• Upgraded connected homes reached up to 2.31 million in Q2 2026, with 11,500 organic net adds, and fiberization at 27%, up 2% year-on-year.

• Completed disposal of non-strategic Magdeburg subsidiary, impacting up to 104,000 upgraded homes and related RGUs.

• Appointed new CIO and realigned CTO office to focus on IT modernization and efficient CapEx allocation.

• High-speed products and 3P bundles drove growth, with 48% of gross adds choosing ≥500 Mbps and 37% bundle share.

• Operational Internet net adds were +8,000 in Q2 2026 (+4.5% YoY), outperforming industry trends; reported net adds -39,000 due to divestment.

Financial highlights

• Q2 2026 revenue was up to EUR 209.2 million, down up to 0.9% year-over-year, mainly due to subsidiary divestment.

• Normalized EBITDA increased by up to 1.8% year-over-year; reported EBITDA up nearly 70% to EUR 102 million, benefiting from a EUR 19.8 million deconsolidation gain.

• CapEx excluding leasing declined by up to 51% year-over-year to EUR 36.8 million.

• Cash and cash equivalents stood at EUR 65.8 million at end of June 2026.

• Operational cash flow increased by 15% to EUR 58 million, driven by reduced CapEx and higher EBITDA.

Outlook and guidance

• Strategic FTTH wholesale agreements with 1&1 and Telefónica concluded, set to be fully operational by Q1 2027.

• Network infrastructure CapEx for full year expected at EUR 27 million, slightly below 2025.

• Revenue for full-year 2026 expected to decline in the low double-digit million range due to equity investment sale; EBITDA forecasted to increase in the low to mid double-digit range.