In 2023, the TDF Group will post :

- Sales up +10.4% to 849.7 million euros, driven by telecom infrastructures and fiber optics

- EBITDAaL of 480.3 million euros, up +7.3

- Capital expenditure of €417.4 million, or 49.1% of sales

- Solid and expanding industrial capacity, with 735,500 FttH connections made marketable since 2017 and 300 new telecommunication towers made available by 2023

This dynamic growth and high level of investment are in line with the ambitious program TDF has been pursuing for several years. The Group's strategy is underpinned by its industrial capacity to build and deploy massively sustainable fixed and mobile broadband infrastructures.

• In mobile telecoms infrastructures, the TDF Group recorded sales growth of +13.9% (+6.3% excluding electricity rebilling). Thanks to its extensive portfolio of sites and long-standing customer relationships, the Group is consolidating the presence of mobile operators on its existing towers and rooftops (+635 points of presence, an increase of +5.1%). The Group now has 21,800 points of presence on its sites in an increasingly competitive market.

With the development of 5G in France, TDF is consolidating its position as a major player in France's digital development. To meet the connectivity needs of French homes and businesses, TDF has continued and accelerated its massive industrial deployment of telecommunications infrastructure. In 2023, 300 new mobile telecommunications towers were made available to operators, bringing the total to 1,700 since the launch of the tower construction program in 2016.

Sales of other telecom services rose by +6.4% to €59.2 million. In response to operators' needs, TDF continued to develop its Mobile Edge Computing equipment, hosting data in dedicated local datacenters close to antennas (sales up +32.5%). The "Indoor" mobile coverage business also continued to grow, with sales up +12.3%.

• In the audiovisual sector, revenues are stable (-0.8% vs. 2022).
  Audiovisual broadcasting confirms its resilience, with a total of 7,119 DTT points of service, down -0.5% year-on-year.

In 2023, radio broadcasting activities are up 1%. The Group stepped up deployment of DAB+ digital radio, in line with the roadmap drawn up by the French Audiovisual and Digital Communications Regulatory Authority (Arcom). Throughout the year, the TDF Group largely continued its deployment work in mainland France. In all, one hundred DAB+ transmitters were commissioned at seventy TDF broadcasting sites. Thanks to accelerated deployment, 55% of the French population now has access to DAB+ digital terrestrial radio. In all, more than 550 radio stations are currently broadcast on DAB+.

The Digital Terrestrial Television (DTT) broadcasting business was down -2.2%. Thanks to its expertise in network operation and supervision, the Group is able to provide its customers with quality service, in a context where the terrestrial platform remains popular with the population. A driving force in innovation, the Group supports its publisher customers in the technological evolution of the DTT platform, notably with the launch of Ultra High Definition quality just a few months ahead of the Paris 2024 Olympic Games.

•  The Group's fiber business continues to enjoy strong growth (+37.6%), with sales of 71.3 million euros.
  With 735,500 marketable outlets, the Group has almost completed deployment of the five networks entrusted to it (Val d'Oise, Yvelines, Loir-et-Cher/Indre-et-Loire, Maine-et-Loire and the Communauté de Communes de Faucigny Glières, in Haute-Savoie).

Sales are progressing in all regions, with 380,300 outlets connected by the end of December 2023 (+40% orders in one year). Overall, the take-up rate has reached 52%.

Sustained investment in mobile telecoms and fiber optics

In 2023, the TDF Group pursued its ambitious strategy of massive investment while strengthening its ability to secure future growth and control costs and resources. The Group invested a total of €417.4 million, or 49.1% of sales. These major investments enabled :

• Expansion of its mobile telephony infrastructure base, which now comprises 21,400 marketable sites, including 8,600 active sites (masts, towers, rooftop terraces, railway stations, etc.).
• Continued deployment of fixed broadband networks.
• Deployment and renewal of new audiovisual broadcasting systems, notably for DAB+ digital radio.

Of these operating investments, 324.9 million euros correspond to growth investments and concern all business sectors: Telecoms, Audiovisual and Fiber.

EBITDAaL amounted to 480.3 million euros, or 56.5% of sales, up 7.3% on 2022.

In addition, the Group's order book reached a record level of 5.6 billion euros, equivalent to 7 years' sales. This growth is the result of contract renewals in all our businesses, and the increase in infrastructure deployed and used by customers.

To support its growth, the TDF Group strengthened its financial structure and liquidity this year:

• In July 2023, the Group finalized a bank refinancing operation for a total of 500 million euros, involving the refinancing and increase of the revolving credit line, as well as the signature of a new syndicated loan.
• TDF also carried out a bond issue for 600 million euros, at a fixed rate of 5.625%, maturing on July 21, 2028.

In February 2023, the Group sold its stake in Monaco Media Diffusion.

TDF launches a new dynamic around its ESG strategy (environmental, social and governance criteria)

A leading industrial player in France, TDF designs, deploys and maintains telecommunications infrastructures (fixed and mobile) and broadcasting networks essential to the population. Through its actions, the company ensures the broadcasting of Digital Terrestrial Television and radio, contributes to improving mobile coverage and deploys fiber optic networks in rural areas.

For its overall Corporate Social Responsibility (CSR) performance in 2022, the TDF Group has been awarded a score of 98/100 (+ 3 points in one year) by the GRESB (Global Real Estate Sustainability Benchmark) for 2023, the benchmark for the real estate infrastructure sector. TDF confirms its position among the best in its sector, with a second place in the "Telecom Infrastructure" category in Europe. The company posted excellent results, thanks in particular to its 100% rating for management. In addition, TDF maintains its "Five Star" status, reserved for the top 20% of companies in all categories.

In terms of energy performance, nearly 120 photovoltaic shading systems have been deployed at telecoms sites by 2023. TDF plans to extend deployment to all eligible sites, i.e. over 2,000 sites. Several solar farm projects are underway.

In terms of social performance, the Group maintains a gender equality index of 94/100. A forerunner in this field for several years, TDF implements a range of support measures aimed at three main objectives: ensuring gender equality in career development and promoting job diversity; supporting and facilitating the balance between parenthood and professional life; and preventing all forms of discrimination, violence, harassment or sexist behavior.

Olivier Huart, Chairman and CEO of the TDF Group, comments: "The TDF Group's 2023 results are once again the fruit of our strategy which, in line with previous years, is based on long-term investments in infrastructure and networks. But they also reflect our ability to control costs despite an increasingly inflationary economic environment, particularly as regards energy and raw materials. This quest for productivity will continue to drive us in 2024, as a pledge of excellence and long-term commitment to our customers."