Telekom Austria (TKA) Q3 2025 earnings summary

Executive summary

• Total revenues grew by 3.5% in Q3 2025 and 3.8% in the first nine months, mainly driven by equipment sales and strong international performance, offsetting weakness in Austria.

• EBITDA rose by 2.8% in Q3 and 3.7% in Q1–Q3 2025, supported by OPEX control and strong results in Bulgaria and Belarus.

• Free cash flow surged by 52% in Q1–Q3 2025 to €529 million, attributed to lower CAPEX, improved operational results, and favorable working capital changes.

• Net result improved by 7.3% in Q3 and 6.0% in Q1–Q3 2025, supported by better financial results.

• Customer base expanded, with notable increases in mobile postpaid, internet at home, and TV subscribers.

Financial highlights

• Q3 2025 revenues: €1,401 million (+3.5% YoY); Q1–Q3 2025: €4,085 million (+3.8% YoY).

• EBITDA: €563 million in Q3 (+2.8% YoY); €1,562 million in Q1–Q3 (+3.7% YoY).

• Net result: €191 million in Q3 (+7.3% YoY); €468 million in Q1–Q3 (+6.0% YoY).

• Free cash flow: €529 million in Q1–Q3 (+52% YoY); free cash flow margin improved to 12.9%.

• CAPEX: €570 million in Q1–Q3 (–12.0% YoY), mainly due to lower investments in Austria and spectrum payments.

Outlook and guidance

• 2025 guidance confirmed: revenue growth of 2–3% YoY and CAPEX (excluding spectrum) below €800 million.

• Focus remains on digital innovation, operational excellence, and customer relevance.

• Fitch confirmed 'A-' credit rating with stable outlook in July 2025.