A1 Telekom Austria Group

Outlook suspended

The Management of A1 Group decided to suspend the outlook for 2020 on total revenues and capital expenditures due to the Covid-19 pandemic as it is still premature to give a precise estimation on the impact of the Covid-19 pandemic, in particular concerning the full impact on the economy. We will provide a new outlook on total revenues and capex as soon as we have more visibility. The management board currently intends proposing a dividend per share of EUR 0.23 to the annual general meeting 2020, which has been postponed to September 24, 2020. Dividend payments follow our current dividend policy which is closely monitored and adapted if needed.

While the impact of Covid-19 was limited during the first quarter of 2020, the full effects will materialize in the remainder of the year. This will be especially driven by the impact of travel restrictions on roaming revenues, in particular effective in tourist destination countries (Austria, Croatia). The expected lifetime credit loss of accounts receivables was increased in Q1 2020 as a cautious step looking forward while the further development of bad debts is closely monitored. In addition, a possible depreciation of the Belarusian Rouble against the Euro above previously expected levels could have a negative impact in the financial year 2020.
In the last years, A1 Telekom Austria Group focused on deleveraging which led to a resilient balance sheet structure with net debt (excl. leases) / EBITDA after leases at 1.7x as of March 31, 2020. A1 Telekom Austria Group can rely on undrawn committed credit lines of EUR 1.0 bn, resulting in a strong liquidity position, which was recently also underpinned by S&P Global’s affirmation of the BBB+ credit rating (outlook stable). Additionally, A1 Group has a strong track record of continuous efficiency increases which will remain to be a strong focus.



Disclaimer for forward-looking statements:

This document contains forward-looking statements. These forward-looking statements are usually accompanied by words such as “believe”, “intend”, “anticipate”, “plan”, “expect” and similar expressions. Actual events may differ materially from those anticipated in these forward-looking statements as a result of a number of factors. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results or outcomes to differ materially from those expressed in any forward-looking statement. Neither Telekom Austria nor any other person accepts any liability for any such forward-looking statements. Telekom Austria will not update these forward-looking statements, whether due to changed factual circumstances, changes in assumptions or expectations. This report does not constitute a recommendation or invitation to purchase or sell securities of Telekom Austria.


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Martin Stenitzer

Head of Investor Relations
A1 Telekom Austria Group