Telekom Austria (TKA) Q4 2024 earnings summary

Executive summary

• Achieved a major strategic milestone by offering fixed-line products in all seven core markets, with Serbia becoming convergent.

• Service revenues increased by 4.0% in Q4 2024, with growth across all markets, driven by CEE.

• EBITDA rose 7.1% year-over-year in Q4 2024; free cash flow for FY 2024 reached EUR 575 million, up 62.5%.

• Mobile subscribers increased 7.4% year-over-year; RGUs up 1.3%.

• Recognized in Sustainalytics' 2025 ESG Top-Rated Industry List and validated Net Zero targets by Science Based Targets initiative.

Financial highlights

• Q4 2024 total revenues were EUR 1,476 million (+7.8% year-over-year); FY 2024 revenues EUR 5,413 million (+3.1%).

• Q4 2024 EBITDA was EUR 515 million (+7.1%); FY 2024 EBITDA EUR 2,021 million (+5.1%).

• Net result for Q4 2024 was EUR 185 million (+27.5% year-over-year); FY 2024 net result EUR 627 million.

• Free cash flow for FY 2024 was EUR 575 million, up 62.5% from FY 2023.

• CAPEX decreased 20.9% to EUR 865 million, mainly due to lower spectrum spend and tower spin-off.

Outlook and guidance

• 2025 guidance: total revenues expected to grow 2–3% year-over-year; CAPEX (excluding spectrum) around EUR 850 million.

• Management Board proposes raising the dividend per share from EUR 0.36 to EUR 0.40, delivering a 5% yield.

• Focus on fiber and 5G expansion, with service revenue growth in Austria and international markets.

• Belarusian ruble expected to continue depreciating, pressuring revenue and EBITDA.