Telekom Austria Ag

Welcome to the summary of A1 results for the fourth quarter and the full financial year 2025. 2025 was both successful and demanding for A1 Group. We met our growth guidance, advanced transformation and established a new B2B delivery center, launched 5G in Serbia and expanded A1 Digital into Spain. Group revenues went up by 3% and clean EBITDA by 4%. This year we have invested 890 million euros in our best-in-class In Austria, we are navigating a challenging market and macroeconomic environment. But despite declines in revenue and EBITDA, our continued market investments have enabled us to achieve very strong customer growth throughout the year, putting us in a better position for the future. Our CE markets were the key growth driver, with revenues and EBITDA up by 9%. On group level, our customer base continued to expand, with mobile postpaid subscribers increasing by 14% and RGU's by 2%. Overall, we gained more than 250,000 mobile postpaid subscribers in the core business and almost 3 million in the IoT business. Demand for high-speed broadband, TV and digital services remains strong. A big portion of our growth in the residential segment has been coming from new services close to our core, especially security, insurance and streaming offers. They become an essential part of our value proposition and support higher revenue per user. In our B2B segment, ICT and digital services continue their positive momentum. Our cloud and cybersecurity solutions actively contribute to Europe's digital sovereignty. With the new Business Delivery Center, we will further accelerate ICT expansion and sales in 2026. Our transformation journey continues. Thanks to our competence delivery center model, we now consolidate non-customer facing functions in 20 delivery centers. They enable our teams to focus even more on our customers. Free cash flow for the year rose by 4% to 596 million euros, underlying our capacity to fund growth and transformation. Our mission remains clear, stay relevant to customers, anticipate trends and work together as one A1 team. For 2026, we expect revenue growth of 2% to 3% and capex before spectrum of around 750 million euros. We propose to increase our dividend to 42 euro cents per share for the financial year 2025. We would like to sincerely thank our customers, business partners, shareholders and our employees for their trust, support and dedicated commitment throughout the year. Your engagement and partnership are the foundation of growth and continued success.