Investor Presentaiton
nuuday
In brief
Business and strategy
Performance
Corporate governance
Financial statements
Nuuday's performance
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In 2022, we stabilised or grew our key strategic areas, following several years of declining
customer volumes.
Mobile voice RGUS grew steadily each quarter, totalling net adds of 42,000 throughout 2022,
while we successfully increased broadband RGUS in Q4 2022, for the first time in seven years.
Revenue increased slightly by 0.1% with a 0.5% increase in service revenue, driven by strong
performances in mobility services and high-speed broadband.
Underlying EBITDA (excluding transformation costs¹) declined by 3.1%, driven mainly by gross
profit margin pressure and increasing third-party costs against the background of
stabilisation in our core business.
Underlying capital expenditure dropped slightly by 1.1% but, when including transformation
costs related to Nuuday's technology transformation, capital expenditure rose by 14.4%,
as we began the significant investment in building the new Nuuday.
Gross profit
(DKKm)
Revenue
(DKKM)
14,674
Service revenue
(DKKM)
13,275
4,847
3,081
Our financial performance reflects the phase we have
reached in our transformation; we are clearly focused
on investing in our customer experience and
comprehensive business transformation.
The benefits of our efforts are already visible in im-
proved customer numbers, stable service revenue and
improvements in operating expenditure in our underly-
ing business.
At the same time, we are investing materially to drive
the business transformation; overall, we will invest more
than DKK 1bn to complete our transformation. This will,
over time, produce a sustainable, efficient and profita-
ble business that delivers innovative products and ex-
cellent customer experiences in a truly digital manner.
Service revenue
The company's success in stabilising its customer base
was reflected in slightly growing service revenue, up
0.5% to DKK 13,275m. This rise in service revenue was
driven by a continued strong performance in the
mobile segment, offset by declines in legacy products
and a modest decline in broadband - though with an
increase in our high-speed broadband base. Service
revenue in the mobile segment grew by 3.6%, driven by
increasing ARPU at Telmore, and eesy's growing cus-
tomer base, along with increased A2P SMS prices and
international roaming activity at Mobile Partners.
Gross profit
Gross profit decreased by 2.9%, or DKK 146m, to
DKK 4,847m. The decline was driven by costs related
to customers migrating from legacy products (such as
DSL) to future-proof high-speed products, increased
energy costs and continued increase in third-party
network and content costs.
Underlying Opex
(DKKm)
Underlying EBITDA
(DKKm)
1,766
1 From 2022, Nuuday began reporting transformation costs separately.
from its underlying business performance. Transformation costs
exclusively comprise costs that will cease on completion of the trans-
formation, and that are directly related to Nuuday's comprehensive
business transformation, e.g. direct IT costs, external expenses and
personnel costs for resources working on the transformation as well
as extra costs from running parallel systems during the transfor-
mation. The costs of transformation are fully funded, i.e. the costs
of Nuuday's transformation are covered by Nuuday's current cash
balance.
Nuuday Annual Report 2022
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