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1&1:Quarterly Results/2023 Q1: Difference between revisions
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== Summary of Earnings Call == | == Summary of Earnings Call == | ||
Below is a summary of the conference call<ref>https://edge.media-server.com/mmc/p/m9e59tfe</ref>. | |||
=== Appeal for 5G National Roaming in Telefonica, Deutsche Telecom and Vodafone === | === Appeal for 5G National Roaming in Telefonica, Deutsche Telecom and Vodafone === | ||
Their decision to appeal for 5G national roaming in their competitors networks is informed by; | Their decision to appeal for 5G national roaming in their competitors' networks is informed by; | ||
* 5G is the standard network today. | * 5G is the standard network today. | ||
* In 2001, Telefonica and Intercom got the right to national roaming in Deutsche Telecom's network for 10 years. | * In 2001, Telefonica and Intercom got the right to national roaming in Deutsche Telecom's network for 10 years. | ||
* The agreement | * The 2001 agreement was non-discriminatory and identical to Telefonica's own customers. | ||
* New telecomunication law that came into effect in 2021 gave BnetZa the obligation to decide what is important to the customer and ensure favorable competition. | * New telecomunication law that came into effect in 2021 gave BnetZa the obligation to decide what is important to the customer and ensure favorable competition. | ||
* Telefonica committed in 2014 to provide new entrant with 4G national roaming without restrictions. | |||
=== Fines for failure to meet the 2022 antanna sites obligations === | === Fines for failure to meet the 2022 antanna sites obligations === | ||
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=== Price Reviews on National Roaming Agreement === | === Price Reviews on National Roaming Agreement === | ||
* They do plan to seek price reviews for their national roaming agreement with Telefonica. | * They do not plan to seek price reviews for their national roaming agreement with Telefonica. | ||
=== Service Revenues === | === Service Revenues === | ||
Buildings blocks for their 2023 service revenue to grow 2% y/y yet it was flat in Q1 are: | Buildings blocks for their 2023 service revenue to grow 2% y/y yet it was flat in Q1 are: | ||
* | * Q1 2022 was a stronger quarter compared to Q1 2023 due to lose of customers. Left much more customers in the 2nd, 3rd and 4th quarter last year which leads to the service decelaration in the first quarter. | ||
* See higher net growth of 500k in 2023 as they are focusing on higher values in their offers to customers. | |||
* Net adds to come mostly in second half of the year. | |||
=== When will they achieve savings from national roaming? === | |||
They believe that a large part of antenna operations will be financed by national roaming but only if; | |||
* They get access to low-band spectrum in 2026. | |||
* They achieve 60% traffic coverage. | |||
=== Working Capital Out flows === | |||
* They expect further working capital out flows in the second quarter, which shall be a payment to Deuteche Telecom. | |||
* Generally, they expect working capital out flows this year and in 2024. | |||
* After 2024, working capital out flows will be much lower. | |||
=== Fixed Customer Contracts === | |||
* Stabilization in fixed customer contracts will occur in 2025. | |||
* They said fixed customer contracts in 2024 will be lower than in 2023. | |||
== Estimates == | == Estimates == | ||