Tele Columbus (TC1) Q3 2025 earnings summary

Executive summary

• Achieved 7.3% year-over-year growth in internet customer base and up to 10.6% quarter-on-quarter revenue growth, outperforming competitors facing customer declines.

• Internet net adds reached 8,900 in Q3 2025, with nearly 50% of gross adds opting for products ≥500 Mbit/s; nearly 80% chose speeds of 250 Mbps or higher.

• TV revenue continued to decline, but gains in internet, telephony, and B2B segments helped offset losses.

• Announced appointment of Tim Rhoenisch as new CFO, effective January 2026, to support financial strategy during fiber expansion.

• Two capital increases in Q3 2025 converted shareholder loans into equity, significantly strengthening the balance sheet.

Financial highlights

• Q3 2025 revenue increased 4.7% quarter-on-quarter to €107.2 million, driven by IP and B2B growth; 9M 2025 revenue was €317.7 million, down 2.2% year-over-year.

• Normalized EBITDA decreased by 5.4% year-over-year, impacted by TV sector challenges and prior-year accrual releases; reported EBITDA rose 1.9% to €107.5 million.

• CapEx (excluding leasing) dropped 48% year-over-year to €27.5 million in Q3 2025; full-year CapEx was €112.3 million, down from €148.6 million.

• Cash position at September 30, 2025, was €67.5 million.

• Net loss widened to €214.6 million from €133.3 million in the prior year, driven by higher interest expenses and negative financial results.

Outlook and guidance

• Management is focused on liquidity preservation, cost reduction, and operational excellence, with selective capital allocation and networking capital management.

• No extraordinary cost impacts expected for Q4 2025; guidance for 2025 reaffirmed.

• Full impact of personnel cost reductions and restructuring measures (€10–15 million annualized EBITDA uplift) expected from Q2 2026.

• New multi-year business plan to be shared in Q1 2026.

• Revenue for full year 2025 expected to decline slightly due to ongoing TV revenue headwinds, partially offset by growth in internet and telephony.