Nasdaq CopenhagenIFRS · DKK

DKT Holdings ApS

DKT Holdings ApS is a Danish holding company associated with the DKTH Group, which operates in communications and related services. The available filing excerpts indicate a group structure with financing, employee, and subsidiary disclosures, but do not provide enough business detail to identify specific operating products beyond the broader communications context.

Revenue16.0bn DKK
+1.3 %y/y
Operating profit (EBIT)426m DKK
−53.3 %y/y
EBIT margin2.7%
−3.1 ppy/y
Net income-4,127m DKK
−22.6 %y/y
Free cash flow1,093m DKK
−11.1 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

05101520bn DKK2020: 4.0 bn DKK2020: EBIT 0.07 bn DKK20202021: 4.0 bn DKK2021: EBIT 0.49 bn DKK20212022: 16.0 bn DKK2022: EBIT 1.1 bn DKK20222023: 15.8 bn DKK2023: EBIT 1.1 bn DKK20232024: 15.8 bn DKK2024: EBIT 0.91 bn DKK20242025: 16.0 bn DKK2025: EBIT 0.43 bn DKK202516.00.43
RevenueOperating profit (EBIT)

Business

Share of revenue
Communications operations70 %

Group-level communications activities referenced in the annual report context.

Holding company functions15 %

Ownership, governance, and oversight of subsidiaries within the group structure.

Financing activities15 %

Intra-group and external financing arrangements, including debt-related activities.

Customers

The filing excerpts do not identify detailed customer segments, so the business profile must be inferred only at a high level from the communications-industry references. Based on that context, end users would typically include consumers and enterprise customers relying on mobile, multimedia, and network-related services. The holding company itself does not appear to sell directly to customers, but supports operating subsidiaries that do.

Consumer communications users

End users of mobile and multimedia services provided by operating subsidiaries.

Enterprise communications customers

Business customers purchasing connectivity or related communications services.

Group financing counterparties

Lenders and debt investors supporting the group's financing structure.

Strategy

The available excerpts point to a strategy centered on communications operations, financing flexibility, and adaptation to technology and market change. References to new services, product mix, pricing, and licensing suggest a business model that depends on maintaining network relevance and regulatory access while managing financing terms.

Technology and service adaptationMedium term

Communications businesses must respond to new technologies and shifting customer demand to remain relevant.

Financing structure managementShort term

Contractual obligations and interest-rate exposure can materially affect flexibility and capital allocation.

Regulatory and licensing complianceLong term

Operating rights and service continuity depend on telecom regulation and licenses.

Geography

The company is based in Denmark, and the report references Danish taxation and Danish regulatory oversight. The excerpt also mentions domestic and international communications markets, indicating that the group’s operations and exposures are not limited to Denmark. No country-level revenue split is disclosed in the provided material.

Risks

The report highlights standard communications-industry risks, including competition, regulatory change, and shifts in demand for mobile and multimedia services. It also flags financing obligations, interest rates, exchange-rate fluctuations, and operational or technology execution risk, all of which can affect a leveraged communications group with cross-border exposure.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Competitive pressure in communications markets1Financing and interest-rate risk2Regulatory and licensing risk3Technology and operational execution risk4Exchange-rate fluctuations5
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Competitive pressure in communications marketsImpact: HighLikelihood: High

    The report cites competition in domestic and international communications as a key factor affecting results.

    ExposurePricingMarket shareCustomer churn
  2. Financing and interest-rate riskImpact: HighLikelihood: High

    The report explicitly mentions contractual financing obligations and increased interest rates.

    ExposureDebt servicingRefinancing flexibility
  3. Regulatory and licensing riskImpact: HighLikelihood: Medium

    Telecommunications legislation, Danish authority decisions, and license awards can shape access to markets and services.

    ExposureOperating permissionsCompliance costs
  4. Technology and operational execution riskImpact: MediumLikelihood: Medium

    Communications businesses must respond to changing technologies and operational demands.

    ExposureNetwork/service relevanceImplementation risk
  5. Exchange-rate fluctuationsImpact: MediumLikelihood: Medium

    International operations and financing can create currency sensitivity.

    Exposure: Foreign-denominated debt and cross-border cash flows

Accounting

Judgemental items
Derivatives and hedge accounting

The report states that some derivatives are used to hedge financial liabilities measured at amortised cost.

Impact: Can move gains and losses between OCI, P&L, and balance sheet valuations

Fair value measurement of financial liabilities

Fair value and carrying amount include accrued interest on STF loans, HoldCo loan, and EMTNs.

Impact: Affects leverage presentation and reported liability values

Consolidation and subsidiary presentation

Inactive companies may not be listed separately, and consolidation scope determines reported group structure.

Impact: Can affect comparability of operating footprint and headcount disclosure

Publicly listed companies with a comparable business focus.

Last updated: 24/10/2026