Telekom Austria (TKA) Q2 2026 earnings summary

Executive summary

• Total revenues reached EUR 1,429 mn in Q2 2026, up 4.2% year-over-year, with growth in all service revenue categories except voice and strong CEE market performance offsetting declines in Austria.

• EBITDA excluding restructuring rose 4.3% to EUR 562 mn in Q2 2026, driven by service revenue growth and cost control.

• Net result increased 16% year-over-year to EUR 176 mn in Q2 2026, with net margin improving by 1.2pp to 12.3%.

• Dividend of €0.42 per share (total €279 mn) was paid in July 2026, up 5% year-over-year.

• Fitch confirmed the group's credit rating at 'A-' (stable) in June 2026.

Financial highlights

• Service revenues reached EUR 1,185 mn in Q2 2026, up 3.5% year-over-year.

• Free cash flow for H1 2026 was EUR 335 mn, a 0.7% increase year-over-year, despite a 44.3% decline in Q2 due to spectrum payments and working capital changes.

• EBIT rose 10.1% to EUR 239 mn in Q2 2026, with EBIT margin up 0.9pp to 16.7%.

• CAPEX was EUR 210 mn in Q2 2026 (+26.8% YoY), EUR 374 mn in H1 2026 (-3.6% YoY).

• OPEX increased 4.2% year-over-year, mainly from higher service and equipment costs, offset by savings in Austria.

Outlook and guidance

• 2026 guidance targets total revenue growth of 2-3% year-over-year and CAPEX (excluding spectrum and M&A) of ~EUR 750 mn.

• Growth expected from CEE markets, mobile upselling, connectivity, ICT solutions, and fixed-line business.

• Continued expansion of fiber and 5G networks in Austria and CEE.