TDC NET Annual Report 2025: high investments in Denmark’s digital infrastructure and more than halfway to net zero on CO2

TDC NET has published its Annual Report for 2025, which, despite a slight decline in revenue, demonstrates a year of solid earnings and a high level of investment in digital infrastructure for the benefit of Danish citizens, businesses, and for the security of the country.

“2025 has been a year in which we delivered on our strategic ambitions in a challenging market. We have invested heavily in the expansion of Denmark’s digital backbone, cybersecurity, and the green transition, despite a continued decline in investment incentives in the telecom sector,” says TDC NET CEO, Michel Jumeau.

Strong operations and high operational efficiency

Revenue in 2025 amounted to DKK 6,344 million, representing a decrease of 1.7 percent compared with the previous year. This was primarily driven by declining demand for legacy technologies. EBITDA before special items totalled DKK 4,618 million, corresponding to an EBITDA margin of 72.8 per cent, supported by lower operating costs and a targeted focus on increased automation and simplification of processes.

“Our focus on operational discipline and efficiency has enabled us to maintain robust earnings while continuing to invest heavily in the networks of the future,” says Steen Møller, CFO of TDC NET.

Significant investments in fibre, 5G, and networks

In 2025, TDC NET invested a total of DKK 2,9 million in the development and modernisation of digital infrastructure. The investments were primarily directed towards continued fibre rollout, strengthening the mobile network, and modernising and simplifying IT platforms which overall created more resilient and secure infrastructure in Denmark.

By the end of 2025, TDC NET had established approximately 853,000 access points, where households and businesses have the opportunity to connect to its fiber network, and the company gained around 45,000 new fibre customers during the year. At the same time, TDC NET maintained nationwide 5G coverage of 99.7 per cent and was, for the tenth consecutive year, rated as delivering Denmark’s best mobile network experience.

The shutdown of the ageing copper network continued as planned. In 2025, 178 central offices were closed, and a further 273 were announced for closure in 2026. This means that 38 percent of the copper network is planned for active shutdown.

Significant progress on sustainability and circularity

In 2025, TDC NET reduced its total CO2 emissions (Scopes 1, 2, and 3) by 9 percent compared with 2024 and by 54 percent compared with the 2020 base year. The company is therefore more than halfway towards its target of net zero emissions by 2030.

2025 also marked the launch of a new circularity strategy with the ambition of achieving zero waste by 2030. During the year, 82 percent of all waste was recycled or reused, and more than 760 tons of cables were removed from the ground, the majority of which can be recycled.

At the same time, TDC NET increased its share of renewable energy, with 72 percent of the company’s electricity consumption in 2025 covered by power generated from its own solar parks.

“We see sustainability as an integrated part of our business. The progress made in 2025 shows that we can combine technological development, responsible resource use, and solid operations,” says Michel Jumeau.

Solid financing and 2026 outlook

In 2025, TDC NET issued sustainability linked bonds totalling EUR 1 billion, strengthening the company’s financial flexibility and supporting its long term climate ambitions.

“For 2026, we foresee a continued challenging market situation but expect stable earnings development and a continued high level of investment in mobile and fibre networks, as well as in the ongoing transformation of the business,” Steen Møller concludes.

For more information, contact Head of External Communication, Lasse Bjerre Sørensen, 2929 2333.