TECH SUPPLIER May 2020 - Market Note - Doc # EUR146385920

Impact of COVID-19 on Telcos in Europe: Q1 Results of the First Wave and Changes in 2020 Guidance

By: Bruno TeytonResearch Director, EMEA Telecommunications and Networking

Abstract

This IDC Market Note provides a snapshot of how a first wave of European telcos was impacted by the COVID-19 pandemic in their Q1 results. Even if COVID-19 only took hold in the last half of March, it hit revenues, EBITDA, and capex at different magnitudes depending on lockdown measures and exposure to verticals such as tourism. But more importantly, COVID-19 introduced a high degree of uncertainty and a lack of visibility. Protecting the operating cash flow requires a smart and flexible strategy by domain and country on both opex and capex. In these chaotic circumstances, many telcos have suspended their 2020 guidance. IDC will update its capex and opex forecasts on an ongoing basis in the coming months as economic implications evolve.


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